News from LC , today via kibo ?27 Jun 2022 18:04
Blyvoor remains a substantial gold asset, especially in light of the current gold price upsurge, with a clear path to commercial development clearly indicated, Katoro continues to explore funding options to enable it to construct a mine and put Blyvoor into production as soon as possible.
On its Tanzanian projects, Katoro completed two phases of drilling on its Haneti Nickel-PGM Project in which it holds a 65% interest. The results from a first phase comprising 1,965 meters of rotary air blast drilling completed in April 2021 gave sufficient encouragement for a follow-on 900 meters diamond drilling programme which has recently been completed (February 2022), the results of which enables Katoro to refine the geological modelling and vector in on target areas for next stage work. Katoro also recently announced in March 2022 that it has regained a joint venture interest in the Imweru Gold Project in Tanzania which it had previously sold. It has now cancelled the sale and restructured the transaction as an incorporated joint venture with the previous purchaser, private Australian company, Lake Victoria Gold, to develop the gold asset. The joint venture provides for Lake Victoria Gold to earn up to 80% of the project by arranging all funding, while Katoro retains the remaining 20% as a carried interest.