Tango Q1 2015 Operational and Financial Overview
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/09/15 -- Tango Mining Limited ("Tango" or the "Company") (TSX VENTURE : TGV) is pleased to provide its quarterly operational and financial overview for Q1 2015 (September 2014 to November 2014).
Highlights
Operational overview and financial results for Q1 2015 (Unaudited for 3 months ending 30 November 2014)
Mr. Marco Moller, President and Chief Executive Officer, commented:
"We are very pleased with the positive results presented in our first quarter results following our recent acquisition of ASM's South African mining operations, positioning us as a diversified junior mining company, with a portfolio of cash generating production assets, a near term low cost diamond mining asset and historic development properties to further the scalable growth strategy of the Company. We believe that it provides us with a competitive edge in the current market, considering that junior mining companies as a norm are reliant on the financial markets to sustain exploration and development intensive activities. We are confident that our newly acquired technical and operating capability will allow the successful transition from a purely exploration concern to one that of an operating concern with capabilities to successfully evaluate, expand and acquire new projects, while maintaining sound operating and commercially feasible projects in South Africa and globally.
"We are confident that we will see the same positive production results from our operations over the next quarter that will support the generation of a positive EBITDA from existing projects. The historical performance of our production assets have been outstanding in terms of the mine call factor per contract achieved, which in turn are complemented by the potential increased in diamond recovery efficiency on our diamond mining asset through the introduction of new generation concentrate handling and BVX technology to be commissioned during Q2 2015.
"We are hopeful to announce in the near future the possible acquisition of further near term producing precious and gem stone mining assets to grow and enhance the viability of our existing mining portfolio, while maintaining profitability during the current financial year."
Operational Forecast for Q2 2015 (3 months ending 28 February 2015)
Metallurgical and Mining Projects
Oena Project
Other Projects
About Tango Mining Limited
Tango Mining Limited is a Canadian company that recently acquired African Star Minerals Group's ("ASM") operations in South Africa. Tango has four thermal coal, metallurgical and processing plant and engineering contracts that process 6.5 million tonnes per annum (19.5 million tonnes are contracted over next 3 years), with clientele that include Total (SA) and Glencore plc. The four projects are located within the Ogies and Highveld coalfields, Mpumalanga Province and Kliprivier coalfield, KwaZulu-Natal Province. The Company also holds a 100% interest in the Oena Project, a past producing alluvial diamond property, Northern Cape Province, South Africa and a 100% interest in the 2,088.8 ha El Santo Project, Nicaragua. El Santo is believed to host several east-west trending, low sulphidation, epithermal gold-quartz vein systems. The Company`s vision is to become a diversified junior mining company with interests in precious and base metals, coal, diamond and precious stone mining projects
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. The presence of gold deposits mentioned nearby the Company's property is not indicative of the gold mineralization on the Company's property. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at . These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. The technical disclosure in this news release have been approved by Terry L. Tucker, P.Geo., Executive Chairman of the Company and a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators.
Contacts:
Tango Mining Limited
Mr. Terry L. Tucker, P.Geo.
Executive Chairman
Tango Mining Limited
Mr. Marco Moller
President and CEO
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 09.02.2015 - 18:42 Uhr
Sprache: Deutsch
News-ID 370164
Anzahl Zeichen: 0
contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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"Tango Q1 2015 Operational and Financial Overview"
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