REG - Kazera Global PLC - Walviskop Mining Permit granted

Kazera GlobalAnnouncement

31/08/2022 07:00

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RNS Number : 6664X  Kazera Global PLC  31 August 2022

31 August 2022

Kazera Global plc

("Kazera" or the "Company")

 Walviskop Mining Permit granted

Kazera Global plc, the AIM quoted investment company, is pleased to confirm
that, further to the Company's announcement on 28 July 2022, the mining permit
(the "Permit") has now been granted to the Company's 60% owned subsidiary
Whale Head Minerals (Pty) Ltd ("WHM"), which will facilitate the start of
heavy mineral sands ("HMS") production at the Walviskop mine in South Africa.

The Permit grants the Company a five-year period to mine the deposit, with the
possibility of further extensions. Following the grant of the Permit, the
Walviskop mine is expected to generate positive cashflow from operations
within the next six months and produce circa 6,000 tons of HMS per month,
achieving an estimated gross profit in excess of US$ 300,000 per month at
current prices.

 

Dennis Edmonds, Kazera Chief Executive Officer, commented:

 

"We are delighted with the latest developments at the Walviskop mine. The
grant of the Permit vindicates our confidence in South Africa's mining
legislation and the way in which it is currently being implemented. We are now
focused on commencing production of Heavy Mineral Sands from the Walviskop
mine, in addition to enhanced diamond production rates.

This development will have a substantial positive impact on the Company's
profitability and could also generate broader opportunities for Kazera in the
Richtersveld."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No. 596/2014 ('MAR'). Investor Presentation.

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 (c/o Camarco)                        Tel: +44 (0)203 757 4980

 Dennis Edmonds (CEO)

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

 Christopher Raggett / Tim Harper (Corporate Finance)

                                                        Tel: +44 (0) 207 220 9797

 Peterhouse Capital Limited (Joint Broker)

 Duncan Vasey and Lucy Williams (Corporate Broker)

 Camarco (PR)                                            Tel: +44 (0)20 3781 8331

 Gordon Poole / James Crothers / Hugo Liddy

 

 

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