Business
Corporate Update
Corporate Update.
About this update from Focus Xplore Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Katoro Gold plc (Incorporated in England and Wales)\n \n (Registration Number: 9306219)\n \n \n Share code on AIM: KAT\n \n \n ISIN: GB00BSNBL022\n \n \n (\"Katoro\" or \"the Company\")\n \n \n \n \n \n Dated: 22 December 2022\n \n \n \n \n \n \n \n \n \n \n \n Katoro Gold PLC ('Katoro' or the 'Company')\n \n \n \n \n \n \n \n \n \n CORPORATE UPDATE\n \n \n \n \n \n \n Katoro Gold PLC ('Katoro' or 'the Company') (AIM: KAT), the strategic and precious minerals exploration and development company,\n announces the following corporate update.\n \n \n \n Project development and funding\n \n \n \n As previously announced on 20th September 2022, the Company continues to develop and determine the work programme and budget for its joint venture agreement regarding the TNMM iron ore project in Namibia (the \"Project\"). The further development and work required in order to advance the Project to bankable feasibility status continues to be based on the initial evaluation and review of the substantial amount of historic work done to date on the Project. In addition, the Company has been undertaking due diligence on a number of other potential projects of interest and will seek to provide an update as soon as appropriate should any develop to become tangible opportunities.\n \n \n As part of the planned and scheduled development of the Project or any other corporate opportunity, the Company will need to raise funds in order to continue progressing its interests and for other general working capital purposes. To this extent the Company will seek to raise further funding during Q1 2023 to also ensure that it continues to operate as a going concern. In this regard the Company is in continuous discussion and consultation with the Company's financial advisors to ensure that the Company has sufficient cash resources.\n \n \n \n Nomad\n \n \n \n The Company has also, in accordance with the relevant termination clause of the existing Nomad agreement with RFC Ambrian Ltd, received notice that the latter will cease to act as nominated adviser for the Company, with its last day being close of market on 10 January 2023. The Company is at the moment in very advanced discussion with a new nominated adviser with their appointment subj...