Last checked at 3 Sep 2020 08:00
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
Dated: 03 September 2020
Katoro Gold PLC ('Katoro' or the 'Company')
BLYVOOR GOLD PRODUCTION JV - GENERAL PROGRESS UPDATE
Katoro Gold plc (AIM: KAT), the AIM listed gold and nickel exploration and development company, is pleased to announce an update in respect of the Blyvoor gold tailings project (the "Project").
Following the successful site visit during July 2020 (See RNS of 20 July 2020), the Blyvoor Gold Joint Venture ("JV") management and technical team have concluded all final planning and preparations for the resource upgrade program at TSF6 and 7. A suitable drilling contractor has since been engaged and drilling is currently well underway and on schedule. The drilling programme is a key activity in the resource upgrade programme that forms part of the technical work required for the completion of the Definitive Feasibility Study ("DFS").
On 29 May and 21 July 2020, the Company updated the market on the very positive interest it received in project level funding for the Blyvoor Gold Project. The Company has since and continues to make good progress in this regard and is currently engaged in very focussed discussions / negotiations with a selected number of potential funders on the basis of formal expressions of interest / proposals received.
Louis Coetzee, Executive Chairman of Katoro Gold plc, commented:
"We are very pleased with the significant increase in momentum across all project activities and work streams, in spite of the very real COVID-19 restrictions and impact in South Africa. We are particularly pleased with progress on the various funding initiatives over the past month.
"This is an exciting time in the Company's development. We have a competent team on the ground and look forward to provide further updates to the market on this exciting project as we continue to progress towards gold production from Blyvoor."
**ENDS**
For further information please visit www.katorogold.com or contact:
Louis Coetzee
| louisc@katorogold.com | Katoro Gold plc | Executive Chairman |
Bhavesh Patel Andrew Thomson | +44 20 3440 6800 | RFC Ambrian Limited | Nominated Adviser |
Nick Emmerson Sam Lomanto
| +44 (0) 1483 413 500
| SI Capital Ltd
| Broker
|
Isabel de Salis Beth Melluish | +44 (0) 20 7236 1177 | St Brides Partners Ltd | Investor and Media Relations Adviser |