(Alliance News) - Kazera Global PLC on Friday said it is postponing its annual results, blaming the consequences of Covid-19.
Shares in Kazera were down 8.3% at 1.08 pence on Friday morning in London. The stock has lost 25% so far in 2021.
The investment company focused on mining of minerals such as tantalum and diamonds in Nambia was granted a three month extension by the AIM market for the publication of its full year result.
Kazera said it now expects to release its results for the financial year that ended June 30 in February. The Covid-19 pandemic had prevented the company's auditors from accessing all required information, Kazera explained.
For the recent year, the company said it expects to report income of GBP55,000 and a loss of GBP1.2 million. In its 2020 financial year it reported a loss of GBP1.0 million.
Kazera said that, despite the difficulties and operational issues of the year, it is now processing diamonds in accordance with its original business plan.
The company had last week reported a "record breaking" end of year with diamond production in excess of 750 carats and its Tantalite Valley mine was in the final phase of testing with tantalum production imminent.
By Heather Rydings; heatherrydings@alliancenews.com
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Kazera Global (KZG)