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Southstone Minerals: Oena Diamond Sales – Q1 2022 Report
VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide a
About this update from Southstone Minerals Limited
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 02, 2021 (GLOBE NEWSWIRE) -- Southstone Minerals Limited (“Southstone” or the “Company”) (TSX.V – SML) is pleased to provide a production and operational update for the period 1 September 2021 to 30 November 2021 (Q1 2022) on Oena Diamond Mine located in the Republic of South Africa. Oena Diamond Mine, Republic of South Africa Production at the Oena Diamond Mine was limited during Q1 2022 with one mining contractor on site processing both run of mine (“ROM”) material and pan tailings and bantam material (“Tailings”). One Bourevestnik (“BVX”) unit is used for diamond recovery. Mining and processing of ROM and Tailings material occurred during the period and diamond production results for Q1 2022: Carats Produced Number of Diamonds US $ / carat average Q1 2022 169.94 108 1'216 The Oena Diamond Mine continues to produce large and high-quality diamonds as summarized below. Top 9 Diamonds by Value per Carat for Q1 2022 Diamond Diamond Size (carats) Sold Price US $ US $ / carat 1 13.83 18'362 1'328 2 13.77 42'878 3'114 3 7.73 34'027 4'404 4 4.30 6'449 1'500 5 3.96 3'989 1'008 Pursuant to the News Release issued October 13, 2020, the Company confirms that it has now received shareholder approval of the settlement of outstanding indebtedness to a director of the Company in the sum of C$226,500 by the issuance of an aggregate of 4,530,000 common shares in the capital stock of the Company at a price of $0.05 per share, which transaction is subject to the approval of the TSX Venture Exchange. The Company also reports that Mr. Simon van der Loo has resigned as CFO due to personal reasons. Terry L. Tucker has consented to act as Interim Chief Financial Officer and holds the position at the discretion of the Board of Directors. The technical disclosure in this news release has 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. THE BOARD OF DIRECTORS OF SOUTHSTONE MINERALS LIMITED [email protected] Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Forward-Looking Statement Certain information set forth in...