Archives for News

Q4 2020 OPERATIONAL UPDATE, RECOVERY OF A 63.88 CARAT DIAMOND AT OENA AND JOINT VENTURE WITH GUMROCK MINING

Download as PDF VANCOUVER, BRITISH COLUMBIA — 5 October 2020 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide a production and operational update for the period 1 June 2020 to 31 August 2020 (Q4 2020) on its project portfolio located in South Africa. Oena Diamond Mine, Republic of South Africa Production at the Oena Diamond Mine during Q4, 2020 operated normally and during the period a 63.88 carat diamond, the largest diamond recovered by Southstone, was recovered. In addition, a 42.06 carat and 31.14 carat diamond were recovered and sold. There is one
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SOUTHSTONE SIGNS AGREEMENT TO ACQUIRE FARM PANFONTEIN 58 HO DIAMOND PROPERTY, SOUTH AFRICA

Download as PDF VANCOUVER, BRITISH COLUMBIA — 17 August 2020 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to announce it has entered in an Acquisition Agreement to acquire the 1607.7 hectare Prospecting Right (“PR”) covering the Farm Panfontein 58 HO alluvial diamond property (the “Property”) situated approximately 8 kilometers (“km”) east of the town of Schweizer Reneke in the Northwest Province of the Republic of South Africa (“RSA”). The Property has a historical alluvial diamond resource estimate, as discussed below, and lies at the approximate northern end of the well-known ‘London Run’ which has
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Q2 and Q3 2020 OPERATIONAL UPDATE

Download as PDF VANCOUVER, BRITISH COLUMBIA — 8 July 2020 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide a production and operational update for the period of 1 December 2019 to 28 February 2020 (Q2 2020) and 1 March to 31 May 2020 (Q3 2020) on its project portfolio located in South Africa. Oena Diamond Mine, Republic of South Africa Southstone continues to focus and prioritize its efforts on the Oena Diamond Mine. There is currently one mining contractor on site using eight (8) pan plants to process run of mine (“ROM”) material
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SOUTHSTONE REPORTS SHARES FOR DEBT SETTLEMENT

Download as PDF VANCOUVER, BRITISH COLUMBIA — 28 May 2020 – Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that it has agreed to settle outstanding indebtedness in the sum of $705,456.75 by the issuance of 7,524,872 common shares in the capital stock of the Company at a price of $0.09375 per share, which transaction is subject to the approval of the TSX Venture Exchange. CC Mining Limited (“CCML”) has agreed to settle indebtedness in the sum of C$498,363 by the issuance of 5,315,872 common shares, resulting in CCML holding 19.90% of the outstanding shares of the
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SOUTHSTONE CONFIRMS SHAREHOLDER APPROVAL FOR DISPOSITION OF THE KWENA GROUP

Download as PDF VANCOUVER, BRITISH COLUMBIA — 15 May 2020 – Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to announce that at the annual and special shareholders meeting held on 15 May 2020, the Company received disinterested and minority shareholder approval of the Company’s disposition of the Company’s 49% interest in the issued and outstanding Ordinary Shares and 74% interest in the issued and outstanding Preference Shares of each of Kwena Mining Projects (Pty) Ltd., Kwena Mining and Metallurgical Services (Pty) Ltd. and Kwena Springlake Projects (Pty) Ltd., as more particularly described in the Company’s
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SOUTHSTONE ANNOUNCES CLOSURE OF OENA MINE DUE TO COVID-19 PRECAUTIONS

Download as PDF VANCOUVER, BRITISH COLUMBIA — 27 March 2020 – Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces the closure of the Oena mine in the Northern Cape, South Africa in compliance with the South African government’s instructions for a 21 day lockdown period starting from March 26th until April 16th, 2020. Kwena Group will continue to operate only a day shift as the three coal washing facilities are partially exempt from the lockdown. ON BEHALF OF THE BOARD OF DIRECTORS OF SOUTHSTONE MINERALS LIMITED Mr. Samer Khalaf Chief Executive Officer info@southstoneminerals.com  Neither TSX Venture Exchange nor
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SOUTHSTONE ANNOUNCES RELATED PARTY TRANSACTION – DISPOSITION OF THE KWENA GROUP

Download as PDF VANCOUVER, BRITISH COLUMBIA — 23 March 2020 – Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that it is proposing to sell its 49% interest in the issued and outstanding Ordinary Shares and 74% interest in the issued and outstanding Preference Shares of each of Kwena Mining Projects (Pty) Ltd., Kwena Mining and Metallurgical Services (Pty) Ltd. and Kwena Springlake Projects (Pty) Ltd. (collectively the “Kwena Group“). The Company has entered into a disposition agreement dated 20 March 2020 (the “Disposition Agreement”) with Kevin C. Gallagher (“Gallagher”), whereby Gallagher or his nominee(s) will acquire
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SOUTHSTONE ANNOUNCES PROFIT FOR Q1 AND AVERAGE DIAMOND PRICES OF US$1,844/CARAT

Download as PDF VANCOUVER, BRITISH COLUMBIA — 07 February 2020 – Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to announce a record quarter, having made a profit for the Q1 2020 period (1 September 2019 to 30 November 2019) of C$364,838, compared to a loss incurred in the comparative period in Q1 2019 of C$88,636. These results are directly related to the increase in diamond sales from Oena Diamond Mine, South Africa (“Oena”). Southstone continues to focus and prioritize its efforts on improving and increasing production at Oena resulting in operational improvements and the production
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Q1 2020 OPERATIONAL UPDATE

Download as PDF VANCOUVER, BRITISH COLUMBIA — 27 December 2019 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to announce the below Q1 Operational update. Operational Update Q1 2020 Management is pleased to provide a production and operational update for the period of 1 September 2019 to 30 November 2019 (Q1 2020) on its project portfolio located in South Africa and Liberia. DIAMOND PRODUCTION Oena Diamond Mine, Republic of South Africa Southstone continues to focus and prioritize its efforts on improving and increasing production at the Oena Diamond Mine. There are currently two mining contractors
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SOUTHSTONE ANNOUNCES PROFIT FOR THE 2019 FINANCIAL YEAR

Download as PDF VANCOUVER, BRITISH COLUMBIA — 23 December 2019 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to announce results of the audited financial statements for the Financial Year ending 31 August 2019. Southstone`s strategic focus on its diamond operations, in particular the Company’s flagship asset, the Oena Diamond Mine, South Africa, resulted in a diamond production increase of 76% to 1,694.50 carats during the 2019 Financial Year (2018: 961.90 carats), which sold for an average of US$1,664 (2018: US$1,462). The Oena Diamond Mine continues to improve operationally, produce very high‐ quality diamonds and
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