Share Name Share Symbol Market Type Share ISIN Share Description
Kazera Global Plc LSE:KZG London Ordinary Share GB00B830HW33 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.425 1.40 1.45 1.425 1.40 1.425 419,979 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.3 -0.4 - 10

Kazera Global PLC Maiden Diamond Delivery

11/11/2020 10:16am

UK Regulatory (RNS & others)

Kazera Global (LSE:KZG)
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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 
   Camarco (PR) 
   Gordon Poole / James Crothers / Hugo Liddy         Tel: +44 (0)20 3781 8331 


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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(END) Dow Jones Newswires

November 11, 2020 05:16 ET (10:16 GMT)

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