California-based financial lender Vanderbilt Commercial Lending has presented TSX-V-listed Tango Mining with a proposal outlining a $30-million loan commitment to fund Tango’s acquisition and the capital required to restart the BK11 kimberlite diamond mine (BK11 mine), in Botswana. Pending finalising the loan commitment agreement, the outstanding principal, plus accrued and unpaid interest would be due at the end of the five‐year term of the loan, which included an 18‐month pre‐paid interest Reserve Fund.
