Kazera Global PLC Maiden Diamond Delivery (9742E)
November 11 2020 - 5:16AM
UK Regulatory
TIDMKZG
RNS Number : 9742E
Kazera Global PLC
11 November 2020
11 November 2020
Kazera Global Plc
Maiden Diamond Delivery
Kazera Global Plc ("Kazera Global", "Kazera" or "the Company"),
the AIM quoted investment company, is pleased to provide the
following update.
Diamond Production
The Company is pleased to announce that, following the
commissioning of its scalping /screening plant on Monday, 2
November 2020, it has produced a total of 4,000 tonnes of gravel.
Of this, just over 2,000 tonnes of gravel have been processed by
the final recovery plant and will be sold in the auction due to
take place this month. The actual carat value is likely to be low
(around 50 carats), but this is to be expected as the focus was on
quantity of gravel produced, rather than the carat content of the
gravel.
This is an important milestone as it proves the success of the
mining operation and the newly commissioned scalping/screening
plant working in tandem to produce diamondiferous gravel. The focus
now will be on carat content and increased monthly production.
Heavy Mineral Sands Project
The Company continues to work towards the acquisition of a 90%
stake in Whale Head Minerals (Pty) Limited. The Company is
currently working with Tectonic PLC to secure the Mining Permit and
Prospecting Licence related to the project following which it will
move toward completion of the acquisition on the terms announced on
4 June 2020. Progress has been delayed due to office closures
brought about by Covid-19 in South Africa, but the system now
appears to be working normally.
Financing for the Orange River Pipeline
In tandem with our maiden diamond bearing gravel delivery which
will lead to first cashflow from that project, the Company remains
in discussions with future investors for the Orange River pipeline
in Namibia. Several parties have undertaken site visits and
successfully completed their due diligence investigations.
As a result, the Company is in the advanced of stages of
negotiation with a major Namibian investor for a substantial equity
investment into the Company. The final terms of such investment
remain under negotiation and subject to regulatory clearances in
Namibia. As such, while the board remains optimistic, there can be
no guarantee that such negotiations will be successful or upon what
terms.
In addition, two other groups have completed due diligence and,
following discussions at CEO level, the board understands they are
both currently preparing proposals for investment.
Dennis Edmonds, Kazera Executive Director managing the South
African projects, c ommented:
"This first shipment of diamond bearing gravel to auction is a
fantastic moment for Kazera and proves that our investment in our
South African diamond project can provide the Company with a
meaningful and dependable source of income which can be reinvested
for growth. We do not anticipate any major income from this maiden
delivery as the focus has been on the production process.
Nonetheless, income at this very early stage of mine development is
very positive for a Company of our size and starts to put Kazera
Global in a position where it is fully-funded for further
outstanding growth from all three of its investments in tantalum,
heavy mineral sands and diamonds.
"I would like to thank all those involved in the diamond project
for their hard work on delivering our maiden delivery.
"Further to progress being achieved in South Africa, discussions
at the most senior levels with future investors in Namibia continue
to progress positively, with multiple investors now having visited
the site and completed due diligence to support the building of the
water pipeline from the Orange River. This is a very valuable
process for Kazera, and we look forward to further engagement with
these investors.
Kazera owns its' interest in its' South African diamond and
heavy mineral sands project via its' stake in Deep Blue Minerals
(Pty) Limited and an option over equity in Whale Head Minerals
(Pty) Limited.
For further information on the Company, visit: www. kazeraglobal
.com
Kazera Global plc (c/o Camarco) Tel: +44 (0)203 757 4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint Broker) Tel: +44 (0)207 220 0500
Christopher Raggett / Charlie Beeson (corporate
finance)
Camarco (PR)
Gordon Poole / James Crothers / Hugo Liddy Tel: +44 (0)20 3781 8331
**ENDS**
About Kazera Global
Kazera Global is an investment company focused on opportunities
principally, but not exclusively in the resources and energy
sectors. The Company's first investment was in African Tantalum, a
Namibian based operation of which it now owns 100%, followed in
June 2020 by the acquisition of its South African diamond and
mineral sands assets.
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