Investee Company Operational Update

RNS Number : 7987V

Kazera Global PLC

25 July 2018

 

26 July 2018

Kazera Global plc

Investee Company Operational Update

Kazera Global plc ("Kazera Global" or "the Company") the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited ("Aftan"), has an interest in the Namibia Tantalite Investment Mine ("NTI" or the "Mine") in Namibia, provides the following operational update.

Kazera Global confirms that it has commenced its drilling campaign across Tantalite Valley to establish a JORC resource. Early drill cores from the MSA Group ("MSA") look highly encouraging with the programme continuing on its path.

The drilling campaign will ultimately define a JORC resource and enable a comprehensive understanding of the mineralisation on the property and to truly assess the fundamental and future value of the operation. The expectation is for the target zones to represent extensive satellite deposits to feed the refurbished and scalable plant. The Mine workforce has been redirected to building access roads in the steep terrain on the Signaalberg to target exploration zones and potential mining orebodies on the Licence.

Mining has continued at Homestead producing stockpiled Tantalite and Lithium bearing ore for future processing and Aftan shipped its 6^th shipment of high grade tantalum to its customer during July. In light of the Company and Aftan's focus on mineralisation through exploration and strict capital discipline, Aftan has ceased ore processing while the exploration campaign takes place and a conclusive long-term mine plan is developed.

The strategic focus on total resource definition has also led to the Company receiving a number of approaches from additional potential customers of Aftan's product. Together with Aftan, Kazera is exploring these various opportunities with the interests of delivering additional long-term value.

As the exploration programme develops across the property, the Company intends to provide updates on results as each specific ore body is drilled, tested and analysed.

Orange River

Following receipt of the water licence to acquire water from the Orange River, Aftan, under the guidance of Kazera's CEO, has had 7 companies inspect the property and river as part of the tender process on the Orange River pipeline. This is a very important licence and process. The licence will ensure water will not be an issue for the operation regardless of the future size of the plant. In a dry country this is of critical importance. Additionally, the tender process will identify the cost of the pipeline assisting future strategic planning.

Photos of recent core samples and contractor visits can be found on the Company's website at https://kazeraglobal.com/gallery/photos/ 

Larry Johnson, CEO of Kazera Global, said:

"I am pleased to report positive momentum in the exploration campaign and I am excited to see the results as it develops. The strategic focus on truly understanding the mineralisation on the licence is critical to extract, in the long term, the most value out of Tantalite Valley. This will allow Aftan and Kazera to conclusively develop a long-term mine plan that goes beyond Homestead and includes what we think will prove to be economic satellite deposits across the licence. In light of this, it is important the business is run with strict capital discipline and the recent retrenchments, ceasing processing and building access roads will ensure the operation restarts in an optimal position. Our existing Customer continues to support this approach and our strategic shift has been vindicated through further approaches from a wider group of customers. I look forward to reporting updates on the results of drilling and analysis of specific ore bodies when they come available."  

**ENDS**

Kazera Global plc (c/o Camarco)	Tel: [phone]
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint broker) Christopher Raggett / Scott Mathieson / Anthony Adams (corporate finance)	Tel: [phone]
Shore Capital (Joint broker) Mark Percy / Toby Gibbs (corporate finance) Jerry Keen (corporate broking)	Tel: [phone]
Camarco (PR) Gordon Poole / James Crothers / Monique Perks	Tel: [phone]

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

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