REG - Kazera Global PLC - Delay of Results & Trading Update

Kazera GlobalAnnouncement

28/02/2023 17:45

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RNS Number : 4032R  Kazera Global PLC  28 February 2023

Kazera Global Plc ("Kazera" or the "Company")

Delay of Results & Trading Update

 

Kazera Global plc, the AIM-quoted investment company, announces that it will
not be able to publish its Annual Report & Accounts for the year ended 30
June 2022 (the "Results") by the end of February 2023. Trading in the
Company's shares will continue to be suspended on AIM until the publication of
the Results in accordance with Rule 19 of the AIM Rules for Companies. The
Company has submitted final accounts to its auditors, which is currently
conducting its review process that it hopes to conclude before the middle of
March 2023.

 

Further to the RNSs dated 20 December 2022 and 9 January 2023 regarding the
sale of Kazera's interest in 100% of the shares in African Tantalum to Hebei
Xinjian Construction ("Xinjian"), the Company has now received an aggregate of
US$2,225,034.51 from Xinjian.

 

Operationally, the Company continues to make progress, with both its Heavy
Mineral Sands (HMS) and Diamond operations now in production. The Company has
also placed an order for the manufacture of equipment to undertake the
separation of HMS at its Alexander Bay site. The equipment, on which the
Company has made a substantial downpayment and has sufficient funds to
complete the purchase, is expected to be delivered in approximately four
months and, once installed, will allow the Company to sell Ilmenite and
Garnet. Accordingly, the Company is in discussions with several prospective
purchasers for these products, whilst it continues to stockpile large volumes
of HMS, whilst also separating out diamonds.

 

Finally, the Company can confirm that it has paid off all outstanding debt to
the former Directors and loan providers and now sits in a healthy net cash
position.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

For further information on the Company, visit: www.
(http://www.kazeraglobal.com/) kazeraglobal (http://www.kazeraglobal.com/)
.com (http://www.kazeraglobal.com/)

 

 Kazera Global plc

 Dennis Edmonds (CEO)

 finnCap (Nominated Adviser & Broker)                        Tel: +44 (0)207 220 0500

 Christopher Raggett / Fergus Sullivan (Corporate Finance)

 St Brides Partners (Financial PR)                           kazera@stbridespartners.co.uk (mailto:kazera@stbridespartners.co.uk)

 Paul Dulieu / Isabel de Salis / Will Turner
                                                             Tel: +44 (0) 20 7236 1177

 

**ENDS**

About Kazera Global

Kazera is a global investment company focused on developing early-stage assets
towards meaningful cashflow and production in the resource sector. Its current
assets include a diamond mine and heavy mineral sands production in South
Africa. The Company intends to leverage its unique board expertise, investment
capability and operational proficiency, to facilitate exceptional cash
generation and shareholder growth.

 

 

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