Canadian Junior Tango Mining Earns Nearly $1,400/Carat from Oena Mine Diamonds

Mining and Exploration
24/07/2019 10:18

Canadian junior miner Tango Mining recently sold at tender a parcel of 230 diamonds weighing 531.82 carats, achieving an average price of $1,382 per carat. The sale included a 19.87-carat diamond which sold for $4,358 per carat, a 49.6-carat diamond which sold for $2,561 per carat and a 24.97-carat diamond which sold for $1,101 per carat. The diamonds on tender were recovered during the most recent production period at its Oena project in South Africa, May 9 to July 7 2019.

The results of the most recent tender of Oena stones is consistent with those from last quarter, when Tango sold 333.25 carats (190 diamonds), achieving an average price of $1,198 per carat. This as well included some exceptional stones, such as a 20.9-carat diamond which sold at an average of $3,807 per carat, as well as a 5.28 carat stone that sold at an average of $7,730 per carat.

Tango Mining Limited (TGV – TSXV) is a Canadian diversified junior mining company that has an interest in the Oena Diamond Mine, an alluvial diamond property in Northern Cape Province, South Africa, which has recently recommenced operations through its mining and processing contractor, Bluedust 7. In addition to its activities in South Africa, Tango is engaged in early-stage projects in Angola and Liberia.