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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 1.375 1.425 114,926 08:00:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.3 -0.4 - 10

Kazera Global PLC Operational Update Namibia Tantalite Valley Mine

04/08/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 0016V

Kazera Global PLC

04 August 2020

04 August 2020

Kazera Global plc

Operational Update Namibia Tantalite Valley Mine

Kazera Global plc ("Kazera Global", "Kazera" or "the Company"), the AIM quoted investment company, is pleased to provide an operational update on progress at the Namibia Tantalite Valley Mine, Namibia (the "Mine").

Highlights :

   --       Kazera has now completed the drilling portion of its Phase ll exploration program 

o Preliminary study of the Phase ll cores continues to identify presence of lithium and tantalite mineralisation within the intermediate zone of pegmatite at Purple Haze, Snake, Homestead and Signaalberg

o Homestead, Purple Haze, Snake and Signaalberg have all outperformed expectations, averaging a 95% pegmatite intersect for holes drilled

o An estimated 300 drill core samples being prepared to ship to ALS to be assayed and reported by MSA by the end of 2020

o Lateral and depth extent of the mineralisation host pegmatite remains open-ended

o Completion of testing on channel samples to demonstrate grade of established resources is ongoing at White City

-- Based on these positive Phase II results, and a further 70% of the licence being untested (including White City, due to mechanical issues), the Company is exploring options for a Phase III exploration program which would test virgin ground

-- Discussions are well advanced with a new mine operator who will be responsible for drilling, blasting, processing plant and earth moving. The proposed mine operator has over 30 years' experience as a Namibian based company

-- The Orange River Pipeline project has progressed, with Aftan completing all government compliancy certificates as well as engaging with local farmers for the installation of the pipeline

-- Positive discussions continue with a Namibian Investor with regards to the Orange River Pipeline

-- In keeping with the Company's focus on supporting local businesses while expanding the network from which Kazera Trading operates, Kazera Trading has engaged with local mine operators in Namibia to bring together their mineral samples and have them analysed at the TVM laboratories. This reduces cost for local operators while also increasing the reach and capability of Kazera Trading .

The Company is pleased to announce further strengthening the African Tantalum Board with the appointment of Mr. Odilon Ilunga who currently sits on the Kazera Board as an Executive Technical Director as well as Mr. Tshivute Iipinge who is a Senior Mine Engineer and Senior Lecturer at the Namibian University of Science and Technology and is now also African Tantalum's Country Representative.

Focus at the Mine remains on completing the preparation, sampling and reporting of Phase ll exploration to further delineate the extent of resources in the licence area.

As previously announced, COVID-19 has had minimal impact on operations at the Mine with mine staff adhering to COVID-19 safety guidelines and testing measures. The pandemic has however impeded the sending of recovered cores to ALS for assaying and reporting by MSA Group.

Larry Johnson, Chief Executive Officer of Kazera Global commented:

"We are delighted to have completed the drilling portion of our second exploration phase at the Mine. The continued identification of both lithium and tantalite mineralisation within the same ore bodies during the process are very positive signs for the economic viability and efficiency of TVM, particularly with the bulk of the processing facilities already in place. We look forward to receiving the results of our Phase II exploration program in the near future.

"In tandem with our exploration program, the Company has been focused on increasing the potential of the Mine for production by achieving significant progress on the Orange River Pipeline construction and planning. We have been focused on engaging with local landowners, government and other stakeholders to ensure their compliance with the building and have been engaging with local Namibian investors with regards to its financing. We look forward to updating shareholders on this workflow as progress is achieved."

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 / Anthony Adams (corporate 
   finance) 
 
   Camarco (PR) 
   Gordon Poole / James Crothers / Hugo Liddy        Tel: +44 (0)20 3781 8331 
 

**ENDS**

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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August 04, 2020 02:00 ET (06:00 GMT)

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