RNS Reach
16 October 2024
Kazera
Global plc
('Kazera'
or 'the Company)
Optimo
Capital Research Report
Kazera Global plc, the AIM-quoted
investment company, is pleased to announce that Optimo Capital has
published a research report on the Company. The report is available
to view on the Company's website at https://kazeraglobal.com/reports-presentations/
and at https://www.optimocapital.co.uk/library-2
**ENDS**
|
Kazera Global
plc
Dennis Edmonds, CEO
|
kazera@stbridespartners.co.uk
|
|
Cavendish Capital Markets Ltd
(Nominated Adviser and Broker)
Derrick Lee / Pearl Kellie
(Corporate Finance)
|
Tel: +44 (0)207 220
0500
|
|
St Brides Partners (Financial
PR)
Paul Dulieu / Isabel de
Salis
|
kazera@stbridespartners.co.uk
|
About Kazera Global plc
Kazera is a global investment
company focused on leveraging the skills and expertise of its Board
of Directors to develop early-stage mineral exploration and
development assets towards meaningful cashflow and production. Its
three principal investments are as follows:
Alluvial diamond mining through Deep
Blue Minerals (Pty) Ltd, Alexander Bay, South Africa
Kazera currently has a 100% direct
interest in Deep Blue Minerals, of which 74% is held beneficially
by Kazera and 26% is held on behalf of Black Economic Empowerment
partners.
Heavy Mineral Sands mining
(including ilmenite, monazite, rutile, and zircon) through
Whale Head Minerals (Pty) Ltd, Alexander Bay, South
Africa.
Kazera currently has a 70% direct
beneficial interest in Whale Head Minerals together with the
benefit of a loan facility entitling it to receive approximately
£38m out of dividends from the other shareholders.
Tantalite mining in South-East
Namibia (divestment in progress)
As announced on 20 December 2022,
Kazera has agreed to dispose of African Tantalum (Pty) Ltd
("Aftan") for a cash
consideration of US$13 million plus a debenture payment of 2.5% of
the gross sales of produced lithium and tantalum for life-of-mine.
Completion of the sale is subject to receipt of full consideration
proceeds. Aftan has been deconsolidated from the Company's
financial statements with effect from 4 January 2023 because in
accordance with the terms of the sale agreement, it has
relinquished control of the Aftan in favour of the purchaser, Hebei
Xinjian Construction Close Corp ("Hebei Xinjian") with effect from that
date. Kazera retains the right to cancel the transaction and retain
all amounts paid to date in the event of default by Hebei Xinjian.
The Company is now instituting legal proceedings against Hebei for
payment of the balance due to it.
The Company will consider
additional investment opportunities as appropriate, having regard
to the Group's future cash flow requirements.