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Pin to quick picksKazera Global Share News (KZG)

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Share Price: 0.525
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IN BRIEF: Kazera Global updates on operations in Alexander Bay

Wed, 01st May 2024 21:47

Kazera Global PLC - mining-focused investment company - Updates on operations at its Whale Head Minerals Pty Ltd heavy mineral sands project in Alexander Bay, South Africa. Confirms that all mechanical commissioning work has now been completed at the WHM heavy mineral sands plant. This includes building reinforced concrete slabs, reassembling machinery, and building and connecting conveyors, bins and pumps. Says final electrical commissioning work is now underway and is expected to be completed within the next few weeks.

Also updates on National Nuclear Regulator. Says recent changes within the NNR now requires companies to provide additional information as to how they will meet financial obligations associated with any nuclear authorisation granted.

"These financial obligations are not expected to be of a material nature for WHM, will be funded from cashflow, and underwritten by the company. The company has now provided the NNR with all required additional information and awaits a response. It is anticipated that the appropriate permit will be issued soon, which will allow heavy mineral sands production and sales to commence," it adds.

Current stock price: 0.68 pence, closed up 5.2% in London on Wednesday

12-month change: down 24%

By Sophie Rose, Alliance News senior reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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IN BRIEF: Tectonic Gold, Kazera win mining permit in South Africa

Tectonic Gold PLC - mineral explorer in Australia and South Africa - and Kazera Global PLC - diamonds and rare earths explorer in South Africa and Namibia - Joint venture Whale Head Minerals Pty Ltd wins mining permit in South Africa, the two say on Wednesday. The mining permit has a valuation of around GBP150 million, Tectonic says, citing an independent expert report by a partner of the joint venture. The permit does not include the nearby beach area, for which the companies will apply as well.

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IN BRIEF: Kazera Global granted mining permit for Walviskop mine

Kazera Global PLC - diamonds and rare earths explorer in South Africa and Namibia - Granted mining permit for 60% owned subsidiary Whale Head Minerals Pty Ltd, which will allow for the start of heavy mineral sands production at the Walviskop mine in South Africa.

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