Download as PDF VICTORIA, BRITISH COLUMBIA — 18 FEBRUARY 2025 — Southstone Minerals Limited (“Southstone”) (TSXV – SML) is pleased to announce that it has entered into a binding term sheet (the “Term Sheet”) dated 18 February 2025, with Afrium Energy Pte. Ltd. (“Afrium”), pursuant to which Southstone has agreed to acquire all the issued and outstanding securities of Afrium (the “Acquisition”), an arms-length party, (and collectively with the Concurrent Equity Financing as defined below, the “Transactions”). Afrium, a private Singapore corporation, is the holder of 100% of two private subsidiaries, Afrium Energy Botswana (Pty) Ltd. and Copper Falcon Botswana
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Archives for News
SOUTHSTONE MINERALS REPORTS DIAMOND SALES FROM OENA MINE
Download as PDF VICTORIA, BRITISH COLUMBIA – 19 December 2024 – Southstone Minerals Limited (TSX.V: SML) today reported diamond sales results from its majority-owned Oena Diamond Mine in South Africa. Key Highlights: Q4 2024 Performance (June-August 2024): Sold 174.73 carats (61 diamonds) Achieved average price of USD $2,586 per carat Total revenue: USD $451,915 Q1 2025 Performance (September-November 2024): Sold 146.65 carats (88 diamonds) Achieved average price of USD $782 per carat Total revenue: USD $114,708 Special Size Diamond Sales (>10.8 carats): Q4 2024 (Sandberg Section): Special stone: 23.06 carats sold for USD $225,559 ($9,781 per carat) Second stone: 13.04
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SOUTHSTONE ANNOUNCES MUTUAL TERMINATION OF PADSTONE TRANSACTION
Download as PDF VICTORIA, BRITISH COLUMBIA — 4 SEPTEMBER 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that the Company and Padstone Pte. Ltd. (“Padstone“) have mutually agreed to terminate the previously announced share purchase agreement (the “Agreement”) of the remaining 90% interest of the issued and outstanding shares of Padstone. The 1,152 fully paid ordinary shares of Padstone currently held by Southstone representing 10% of the issued share capital of Padstone, will be transferred back to the Padstone shareholders with an effective date of 31 August 2024 as per the terms of the Agreement. The
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SOUTHSTONE ANNOUNCES EXTENSION OF LONG-STOP DATE FOR PADSTONE TRANSACTION and PRIVATE PLACEMENT
Download as PDF VICTORIA, BRITISH COLUMBIA — 3 July 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that the Company and Padstone Pte. Ltd. (“Padstone“) have mutually agreed on an additional two month extension of the completion “Long-stop Date” for the previously announced share purchase agreement (the “Agreement”) of the remaining 90% interest of the issued and outstanding shares of Padstone (see news releases dated 10 January 2024 and 28 March 2024). The process of obtaining the two alluvial and kimberlite diamond exploration permits in the Republic of Guinea, collectively referred to the “Soromaya Project”
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OENA DIAMOND MINE SALES RESULTS Q3 2024 and JUNE 2024
Download as PDF VICTORIA, BRITISH COLUMBIA — 25 JUNE 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide an update on diamond sales from the Company’s majority owned Oena Diamond Mine (“Oena”), Republic of South Africa for the period 1 March 2024 to 31 May 2024 (“Q3 2024”) and June 2024 diamond sales (part of Q4 2024). During Q3 2024, three diamond tenders were held at CS Diamonds (Pty) Ltd and one tender was held in June 2024. These four tenders represent mine diamond production from 1 February 2024 to a cutoff date
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SOUTHSTONE ANNOUNCES EXTENSTION OF LONG-STOP DATE FOR PADSTONE TRANSACTION
Download as PDF VICTORIA, BRITISH COLUMBIA — 28 March 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that the Company and Padstone Pte. Ltd. (“Padstone“) have mutually agreed on an extension of the completion “Long-stop Date” for the previously announced share purchase agreement (the “Agreement”) of the remaining 90% interest of the issued and outstanding shares of Padstone (see news release dated 10 January 2024). The process of obtaining the two alluvial and kimberlite diamond exploration permits in the Republic of Guinea, collectively referred to the “Soromaya Project” or the “Permits” is ongoing and as
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SOUTHSTONE ANNOUNCES EXTENSION FOR CLOSING OF PRIVATE PLACEMENT
Download as PDF VICTORIA, BRITISH COLUMBIA — 13 March 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that further to its news releases dated November 6, 2023 and January 10, 2024, it has extended the closing of the non-brokered private placement of up to 10M units at a price of C$0.05 per unit for gross proceeds up to C$500,000 (the “Private Placement“). Each unit of the Private Placement shall consist of one common share in the capital of the Company and one-half of a share purchase warrant, with each whole warrant entitling the holder to
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OENA DIAMOND MINE UPDATE Q2 2024
Download as PDF VICTORIA, BRITISH COLUMBIA — 11 MARCH 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide an update of diamond sales, mining and diamond production at the Company’s majority owned Oena Diamond Mine (“Oena”), Republic of South Africa for the period 1 December 2023 to 29 February 2024 (“Q2 2024”). During Q2 2024 mining was initially focused on Sandberg Section (Map 1) where a double sixteen-foot pan is in operation and continues to operate. A double eighteen-foot pan plant was mobilized in January 2024 to Oena Section, was recently commissioned and
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SOUTHSTONE ANNOUNCES PROPOSED ACQUISITION OF REMAINING 90% INTEREST IN PADSTONE PTE. LTD
Download as PDF VICTORIA, BRITISH COLUMBIA — 10 JANUARY 2024 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) announces that it has entered a share purchase agreement (the “Agreement”) with five arm’s length parties, collectively the “Sellers”, setting out the terms of an acquisition (the “Acquisition”) of the remaining 90% interest of the issued and outstanding shares of Padstone Pte. Ltd. (“Padstone“) a private Singaporean company. Southstone is currently a passive shareholder of Padstone, holding a minority 10% interest. Padstone, via a wholly owned subsidiary, has applied for two alluvial and kimberlite diamond exploration permits in the
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OENA DIAMOND MINE QUARTERLY UDPATE, SOUTH AFRICA
Download as PDF VICTORIA, BRITISH COLUMBIA — 11 DECEMBER 2023 — Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide an update of mining and diamond production at the Company’s majority owned Oena Diamond Mine (“Oena”), South Africa for the period 1 September 2023 to 30 November 2023 (Q1 2024). Mining is progressing on schedule with a significant increase in production capacity scheduled for 2024 following the December holiday break. During the quarter mining and production was focused on the Sandberg Section (see Map 1). A total of 126.20 carats (60 diamonds) were recovered including
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