TIDMTTAU 
 
30 September 2021 
 
                               TECTONIC GOLD PLC 
                      ("Tectonic Gold" or the "Company") 
 
               SALE OF MAJORITY INTEREST IN WHALE HEAD MINERALS 
 
Tectonic Gold plc (TDIM: TTAU), is pleased to announce that joint venture 
partner Kazera Global Investments Plc ("Kazera") (AIM:KZG)  has exercised its 
option under the 4 June 2020 agreement, to acquire a 60% interest in Whale Head 
Minerals Pty Ltd ("Whale Head"), the South African mineral sands subsidiary. 
 
Highlights: 
 
  * Kazera has exercised its option for an immediate acquisition of 60% of 
    Whale Head 
  * Tectonic retains a non-diluting 10% interest 
  * Tectonic negotiating sale of final 30% to Black Economic Empowerment 
    partner as required under the South African Mining Charter 
  * KZG issuing 13,527,957 shares in consideration 
  * KZG shares to be assigned to Consolidated Minerals Pte in settlement of 
    A$279,732 loan 
 
Mr. Brett Boynton, Managing Director - Tectonic Gold Plc 
 
"This is a very encouraging development in the South African projects. Kazera 
is taking operational control of Whale Head on the back of their success on 
site with bringing Deep Blue, our diamond joint venture (10% non-diluting 
interest to Tectonic) into production. KZG have also announced that they have 
secured a contract to run the South African Government owned diamond processing 
plant on site and have restarted this facility. The opportunity with the 
mineral sands dovetails nicely into this mix as the diamonds and mineral sands 
can be mined together and should significantly enhance cash flows to the joint 
venture partners. 
 
Under the June 2020 agreement, Tectonic will retain a non-diluting 10% interest 
in Whale Head. The Kazera equity being issued as consideration is being 
assigned to Consolidated Minerals Pte, the group that laid much of the 
groundwork for this project and the issuance of this equity extinguishes a 
legacy loan of A$279,732 from Consolidated Minerals Pte to Tectonic. 
Consolidated Minerals Pte is a long-term partner and Tectonic will be holding 
their equity in trust. 
 
Tectonic is also negotiating a sale of an additional 30% of Whale Head to a 
Black Economic Empowerment syndicate which will include employees and the local 
community, as required under South African regulations. This should bring 
significant additional value to local stakeholders and our shareholders. 
 
Whale Head holds exceptionally high grades of mineral sands, and we are hopeful 
that it will support a long-life mining operation, creating much needed 
additional employment in the Northern Cape." 
 
For further information, please contact: 
 
Tectonic Gold plc                                               +61 2 9241 7665 
Brett Boynton 
Sam Quinn 
www.tectonicgold.com 
@tectonic_gold 
 
Aquis Stock Exchange Corporate Adviser and 
Broker                                                         +44 20 3005 5004 
VSA Capital Limited 
Andrew Raca, Pascal Wiese - Corporate 
Finance 
Andrew Monk - Corporate Broking 
 
 
 
 
END

(END) Dow Jones Newswires

September 30, 2021 06:00 ET (10:00 GMT)

Tectonic Gold (AQSE:TTAU)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Tectonic Gold.
Tectonic Gold (AQSE:TTAU)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Tectonic Gold.