Business
Delay of Results & Trading Update
Delay of Results & Trading Update.
About this update from Kazera Global Plc
[{"type":"text","content":"\n \n \n \n Kazera Global Plc\n \n \n (\n \n \n \"\n \n \n Kazera\n \n \n \" or the \"Company\")\n \n \n \n \n Delay of Results\n \n \n &\n \n \n Trading Update\n \n \n \n \n \n \n Kazera Global plc\n ,\n the\n AIM-quoted investment company,\n announces that\n it\n will not be able to publish its\n Annual Report & Accounts\n for the year ended 30 June 2022 (the \"\n Results\n \"\n )\n by the end of February 2023. Trading in the Company's shares will continue to be suspended on AIM until\n the\n publication of the Results in accordance with Rule 19 of the AIM Rules for Companies.\n The Company has submitted final accounts to its auditors\n , which is\n currently conducting\n its\n review process\n that it hopes\n to conclude before the middle of March 2023.\n \n \n \n \n \n Further to the RNSs dated 20 December 2022 and 9 January 2023 regarding the sale of Kazera's interest in 100% of the shares in African Tantalum to Hebei Xinjian Construction (\"Xinjian\"),\n the Company has now received an aggregate of\n US\n $2,225,034.51 from Xinjian.\n \n \n \n \n \n Operationally, the Company continues to make progress, with both its\n Heavy Mineral Sands (HMS) and\n Diamond\n operations\n now\n in production\n . The\n Company has\n also placed an order for the manufacture of equipment\n to\n undertake\n the\n separation\n of HMS\n at its Alexander Bay site. The equipment, on which the Company has made a substantial downpayment and has sufficient funds\n to\n complete the purchase,\n is expected\n to be delivered\n in approximately\n four\n months\n and, once installed, will allow the Company to sell Ilmenite and Garnet. Accordingly,\n the Company is\n in discussions with several prospective purchasers for these products, whilst it continues\n to stockpile\n large volumes of\n HMS\n , whilst also separating\n out diamonds.\n \n \n \n \n \n Finally, the Company can confirm that it has paid off all outstanding debt to the former Directors and loan providers and now sits in a healthy net cash position.\n \n \n \n \n \n \n This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\"), and is disclosed in accordance with the company's obligations unde...