Katoro Gold PLC Statement re broker (5513G)

TIDMKAT

RNS Number : 5513G

Katoro Gold PLC

02 March 2018

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

Dated: 2 March 2018

Katoro Gold Plc ('Katoro' or the 'Company')

Statement re broker

Katoro Gold Plc (AIM:KAT), the Tanzania focused gold exploration and development company, notes the announcement made today by the Financial Conduct Authority ("FCA") regarding Beaufort Securities Limited ("BSL"), the Company's broker, and Beaufort Asset Clearing Services Limited ("BACSL") being placed into insolvency and that the FCA has imposed requirements on BSL and BACSL to cease all regulatory activity with immediate effect.

The Company is seeking to appoint a new broker as soon as possible and a further announcement will be made when this appointment is made.

**ENDS**

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

For further information please visit www.katorogold.com or contact:

 
 Louis Coetzee   +27 (0) 83    Katoro Gold     Executive Chairman 
                  2606126       plc 
 Richard         +44 (0) 20    Strand Hanson   Nominated Adviser 
  Tulloch         7409 3494     Limited 
  Ritchie 
  Balmer 
  Frederick 
  Twist 
 Isabel de       +44 (0) 207   St Brides       Investor and 
  Salis           236 1177      Partners Ltd    Media Relations 
  Priit Piip                                    Adviser 
 

Notes to editors:

In May 2017 Katoro was admitted to trading on AIM. Katoro owns 100% of the Imweru and Lubando Gold Projects in Tanzania, which both have Mineral Resources established in accordance with the JORC (2012) Code. The total Mineral Resources stated for Imweru consist of 11.607 Mt at grade of 1.38 g/t for a Mineral Resource of 515,110 oz Au at a resource pay limit of 0.4 g/t for the open pittable material and 1.3 g/t for the underground material, while the Lubando Mineral Resources equate to 6.78 Mt at grade of 1.10 g/t for 239,870 oz Au at a pay limit of 0.4 g/t to a depth of 200 m and 1.3 g/t below the 200 m depth cut-off. The respective projects also include the earlier stage Sheba (within the Imweru Licence Portfolio and Imweru Option Portfolio), Pamba and Busolwa (both within the Lubando Licence Portfolio and Lubando Option Portfolio) projects. The JORC Code compliant Competent Person's Report for each of Imweru and Lubando are available on Katoro's website www.katorogold.com.

The Company's primary focus is on advancing and developing Imweru through a work programme which will include, inter alia, a feasibility study and a drilling programme, with the aim, subject to funding, to commence production with an initial target of 50,000 oz gold per annum within 18-24 months from admission to AIM.

Updates on the Katoro's activities will be announced as required and posted on its website www.katorogold.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 02, 2018 06:58 ET (11:58 GMT)