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Tanzania is the 4th largest gold producer in Africa with majors like Barrick operating here

agree with UK investor. The Haneti drill was finished 7 weeks ago so results should be due any time. As it has been stated before that the asset has world class potential, anything remotely positive imo will re rate the shares. If you look around this sector on aim, there is nothing in this sector with this much potential as cheap as this.

Maiden drill programme now complete with 1,965 metres of Rotary Air Blast ("RAB") drilling completed over 50 holes at Mihanza Hill and Mwaka Hill with 1,965 samples collected.



· 776 three metre composite samples prepared from the RAB drill programme with a Quality Assurance/Quality Control sample inserted every 10 samples.



· All RAB samples have now been sent to SGS Tanzania ("SGS"), an accredited assay laboratory, all samples will be analysed by their multi-element Aqua Regia Digestion/ICP-OES method with 13 select samples to also be tested using Fire Assay for gold, platinum and palladium.



· In addition, 4 rock samples collected from mapping have been sent to SGS for assay.

Louis Coetzee, Chairman of Katoro Gold plc, commented: "We are very pleased with the successful completion of the first drill programme at Haneti, marking a significant milestone in the ongoing exploration programme at the Project. We have a very clear exploration strategy for Haneti and, subject to the outcome of results from the maiden drill programme, are ready to proceed with the next phase.

"We would like to thank the exploration team who forfeited their Christmas break and worked hard over the traditional Christmas season to implement this programme successfully, particularly given the challenging weather conditions towards the latter half of the programme."

HANETI PROJECT - NICKEL SULPHIDE AND PGM TARGETS - FURTHER INFORMATION

PROJECT OVERVIEW

The Haneti Nickel Project covers an area of approximately 5,000 km2 in central Tanzania approximately 88 km north of the capital city Dodoma. It comprises tenements (prospecting licences, offers and applications) prospective for nickel, PGMs and gold.

One of the key exploration objectives for the JV partners at Haneti is to delineate the potential for economic nickel mineralisation on the linear dyke-like, Haneti-Itiso Ultramafic Complex ("HIUC") which sporadically crops out over a strike length of 80 km through the centre of the tenement holding. The HIUC mainly comprises serpentinites (metamorphosed ultrabasic rocks such as dunite and peridotite), with metabasic rocks such as metagabbro and metadolerite and is being targeted for a Chonolith-Type Nickel exploration model.

RAB DRILL PROGRAMME

The RAB drilling programme focussed on the Mihanza Hill and Mwaka Hill targets which were selected based on the recommendations of the 2012 airborne electromagnetic ("AEM") geophysics survey, the detailed field programme undertaken in 2013 and further supplementary exploration findings. Drilling was focused on Mihanzi Hill and Mwaka Hill for this campaign, as they were considered to be the priority targets at this stage.

The 1,965m RAB drilling programme consisted of 50 holes drilled on linear fences across the targets. The programme is seeking to verify the existence of near surface nickel sulphide mineralisation at each target whilst increasing the geological understanding such that the

Yep. Results any time. Circa 7-8 weeks in. 50 holes, 40 m depth at 2 drill locations. I fancy the chances of hitting something decent. On a miner if you are say drilling 2 holes you are at risk if the hole is not what you are after. Here the risk somewhat reduced imo

Nookie - agree. The main driver here is the creditor settlement which Kiran himself has said is not related to the shipping. The 3 financial institutions will not be doing a deal sat around in Amapa port in a bar. Will all be done by remotely.

Nickel super cycle coming

Agree Ukinvestor.
Haneti was discovered over 10 years ago in Tanzania by Richard Spear and Christian Schaffalitzky (as in Chairman of EUA)
The initial project work has nothing to do with Louis Coetzee.
The initial grab samples with high grade nickel and platinum has been described as a rare finding so they now years later have the money to drill - which is what they have done now and what we are waiting on

Haneti drill has been 8 or so years in the making. Results any day. Practically nothing priced in and all other battery metal miners flying.
Tier 1 potential

I’ve loaded up some shares today. Tier 1 potential. 80km of strike. Same geology as barrick’s nickel play in development. Can see this going up 3-500% on decent news over time. Positive news too on blyvoor and it’s 20p imo

Flying. !!! Boom

Added some more. Completely forgot they have lithium spodumene and petalite at haneti. Could be huge this

Added some more. Will keep adding. Positive haneti it’s 5-10p imo despite LC

During the construction phase they will be buying shares at 78p yet we can buy now at 19p.
I will sell some at £1

30-50p for starters imo.
Broker note target price £1.71
And that was before yesterday’s funding news !

Cheapest production costs on the planet when they get this done. NPV $1.4 billion. Now we have some of the biggest players in the mining industry providing funding and offtake up the value curve. Brilliant

http://www.ferro-alloy.com/en/news/VSA%20Research%2012%20May%202020.pdf

Target price £1.71
NPV $1.4 billion

Now funded all the way up the curve plus offtake for up to 25%.
This has attracted some of the best players in the mining industry. This RNS and funding package is up there with the best ive seen over the 10 years or so I’ve been buying mining stocks. Could tag 20p today imo

So what? I’m up about 300% since Jan - but of course have no knowledge of aim or how it works.
That’s why I’ll keep adding here as I have no clue what I’m talking about. Like buying copl at 0.08, eua at 0.9p etc.

Amazing RNS. Funding all the way up from very astute investors including ex ceo of xstrata and ex ceo of Anglo American. They won’t be here for pennies. Funding all the way up the curve. Multi billion dollar asset. How many bags coming ? I think 30-50p smashed soon.

Rollover

And we would have had the usual trio bashing the shares when prem was stuck at 0.05p for the past year.