A 10.92 ct diamond sold at US$3,800p/ct

Tango Mining diamond announced sales results from the alluvial Oena Diamond Mine, Republic of South Africa. During the period from 18 January to 14 February 2018, a total of 107.11 carats (76 diamonds) were produced, placed on tender in Kimberley and sold with an exceptional average price of US$1,329 per carat.

 

The top three highest value diamonds recovered during this period include: a 10.92 carat diamond which sold at US$3,800 per carat, a 2.23 carat diamond which sold at US$3,650 per carat and a 5.45 carat diamond which sold at US$2,731 per carat.

 

The Contract Mining and Diamond Recovery Agreement with Bluedust 7 Proprietary Limited considers processing both run of mine (RoM) gravel and pan tailings and bantam material. Bluedust, at its own cost and expense, provides and maintains all plant and equipment as required and Tango’s subsidiary receives 40% of the gross income, less commission from diamonds recovered from Tailings and 25% of the gross income less commission from RoM for the duration of the 60-month contract.

 

Diamond production from Oena, since acquisition, including production from both Tailings and RoM, now totals 1501 carats and have been sold at an average price of US$1,180 per carat.

 

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