Kazera Global PLC - investment company focused on opportunities principally, but not exclusively in the resources and energy sectors - Notes, following the exploration of just 30% of Tantalum Valley mine in Namibia, it has identified the presence of three different minerals in "commercially viable quantities" across the area explored. Finds tantalite at grades exceeding 25%; lithium at grades exceeding 4% which, with a flotation plant extension, could be increased to 6%; and feldspar at grades exceeding 12% to supply high quality ceramics and glass smelters among others.
"The critical pathway to monetising each mineral remains construction of the Orange River Pipeline, which now has all the necessary government approvals to supply vital water supply to Tantalum Valley mine. The company requires substantial funding to be able to commence construction," company adds.
Is in the process of agreeing terms with a "major Namibian investor" for an initial equity investment reflective of the company's net asset value which is in excess of its current share price. This investment is conditional upon finalization of contractual agreements and receipt of funds from the investor, Kazera notes.
Separately, enters into a memorandum of understanding with Manschaft Mining & Energy the holder of five exploration and prospecting licences in central and north western sections of Namibia. Under the terms of the deal, Manschaft has granted Kazera an exclusive right to evaluate each of the EPLs with a view to partnering with Manschaft to "exploit the minerals".
The EPLs are valid until October 2024.
Current stock price: 0.92 pence
Year-to-date change: more than doubled from 0.43 pence
By Paul McGowan; paulmcgowan@alliancenews.com
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Kazera Global (KZG)