21 Jan 2021
DiamondWorld Directory
Home |
News
Home
Firestone Diamonds extends deadline for deal with Tango Mining
The deal involves disposal of the company's Botswana operations
By: Diamond World News Service
|
Apr 8 2016 10:55AM
|
Reference: 12882  

DecreaseIncrease
Diamond development company Firestone Diamonds plc is extending the date by when all conditions for the disposal of the company's Botswana operations to Tango Mining Limited are required to be satisfied.

The company entered into a conditional sale agreement (CSA) with Tango Mining for the disposal, for a total consideration of US$8.0 million on 9 July 2015. Further, on 13 October 2015 certain terms of the CSA were amended by the amendment letter.

Pursuant to a further amendment letter, all conditions of the CSA and Amendment Letter must now be satisfied by 29 July 2016, which is the revised drop date. The terms of the CSA allows for the Revised Drop Dead to be extended, in certain circumstances, to 29 August 2016.

This extension is to enable Tango Mining to finalise the proposed US$30.0 million loan commitment with Vanderbilt Commercial Lending, Inc. to finance the acquisition of the company's Botswana operations and to recommence operations at the BK11 mine.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
 
*  Name:
 
*  Mobile:
 
*  Email:
 
 
Subscribe for DiamondWorld weekly Newsletter
 
Search News by City
Advertisement
Kosher 23460
Advertisement
Kosher 23460
Recent Issue
2020
AVAILABLE NOW...!
Advertisement
Kosher 23460
News in Pictures
Videos
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 28285
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 3460
GJEPC Chairman Interview
Views: 24858
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 33023
Promo for IJ Awards 2012 at NDTV Profit
Views: 46980
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 59445
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 19346
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 45791
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 44668
Advertisement
Kosher 250300
Member of:
Supporter of: