Business
Consolidated Annual Financial Results 31 Dec 2022
Consolidated Annual Financial Results 31 Dec 2022.
About this update from Focus Xplore Plc
[{"type":"text","content":"\n\n\nKatoro Gold Plc\n(Incorporated in England and Wales)\n(Registration Number: 9306219)\nShare code on the AIM: KAT\nISIN: GB00BSNBL022\n('Katoro' or 'the Company')\n \n\n \n\nCondensed Consolidated Annual Financial Results for the year ended 31 December 2022\n\n \n\n \nDated: 9 June 2023\n \nKatoro Gold PLC (\"Katoro\" or the \"Company\") (AIM: KAT), the gold and nickel exploration and development company is pleased to release its audited results for the year ended 31 December 2022. A condensed set of financial statements accompanies this announcement below, while the Company's full Annual Report and Financial results can be found on the Company's website www.katorogold.com. The Company's Annual Report is in the process of being prepared for dispatch to shareholders. Details of the date and venue for this year's AGM, will be announced on posting of the Annual Financial results.\n \nOverview\n· The diamond drilling programme at Haneti, executed by an excellent drill contractor in a blistering 17 days, eventually completed 900.04 metres across three drill holes as planned and with depths of 430.24m, 245.78m and 224.02m respectively, by the first week in February 2022. The results could enable us to focus on specific target areas in future endeavours.\n· The Company entered into a Joint Venture Agreement with Lake Victoria Gold ('LVG') for the development of the Company's Imweru Gold Project ('Project'). Under the Agreement, LVG will earn up to 80% in the Project, with the balance of 20% being held by Katoro as a carried interest, with the JV reimbursing Katoro for previous expenditures in the amount of €792,000 on or before 31 December 2023 (see Note 8 of the Accounts for full details).\n· During the latter part of the year the Company evaluated several new projects with the aim of diversifying its portfolio geographically.\n· Post period end:\no The Company announced the successful conclusion of a next fundraise through which an amount of £150,000 (gross) was raised at 0.1 pence per share which will be utilized for ongoing working capital and to conclude the project assessment process.\no The Company proceeded to appoint Beaumont Cornish Limited as its new NOMAD. This appointment was made in accordance with R...