Results overdue June 2128 Feb 2022 15:55
Company expects to release its full year results for the 12 month-period ended 30 June 2021 during February 2022 and provides the following trading update below.
Unaudited Key Financials
· Income for the year to 30 June 2021 £55k
· Loss for the year to 30 June 2021 £1,164k
· At 30 June 2021, cash at bank amounted to £47k
· Group Total Current Assets at 30 June 2021 £215k
· Group Overall Net Assets at 30 June 2021 £2,892k
Year End Summary
Like most other businesses, Kazera has had a number of operational issues to overcome this year. Despite these obstacles Kazera has progressed promisingly throughout the year and is now successfully processing diamonds in accordance with its original business plan.
The Company's balance sheet has subsequently increased since 30 June 2021 as a result of warrants totaling £288,250 exercised over the period. Cash has been made available as a result of the loan facility referred to in the Company's RNS of 27 October 2021. Cash currently stands at £30,000 with £103,500 of the Loan Facility still available for drawdown. In addition, the Company has commitments from shareholders to exercise a further £150,000 of Warrants. In December the Company sold over R1,000,000 worth of diamonds and anticipates ongoing significant revenue from both its diamond and Tantalum operations in 2022. In light of this the Directors of the Company consider that it continues to trade as a going concern.