Tango Mining failed to comply with all the terms of the sale and disposal of mining operations Firestone Diamonds in Botswana.
Tango was given to the company by September 9, at which it was necessary to close the deal, but three times before she was able to do this.
"Terms of the conditional sale agreement reached, and divestments will not happen", - noted in Firestone.
Firestone operations in Botswana including share in kimberlite BK11 low-quality diamonds are currently on the care and maintenance.
As stated in the Firestone, the company is still looking for ways to increase profits for its shareholders through the sale of assets in Botswana, which, she believes, have sufficient value.
However, in the main diamond company focused on the completion and commissioning of its diamond mine Likhobong (Liqhobong) in Lesotho. It is expected that production on it will begin in the fourth quarter of this year.
At the same time, the Firestone suggests that the available funds of the company will be around $ 9 million by the end of 2016.
As a result of the sale of assets in Botswana amounts of cash the company will not change.
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