Business
Final Results for the Year Ended 30 June 2019
Final Results for the Year Ended 30 June 2019.
About this update from Kazera Global Plc
[{"type":"text","content":"\n \nRNS Number : 7471X Kazera Global PLC 23 December 2019 \n\n23 December 2019\n \n \nKazera Global plc\n \nFinal Results for the Year Ended 30 June 2019\n \nKazera Global plc (\"Kazera Global\" or \"the Company\"), the AIM quoted investment company who, through its stake in African Tantalum (Pty) Limited (\"Aftan\"), has an interest in the Namibia Tantalite Investment Mine (\"Tantalite Valley\" or the \"Mine\") in Namibia, is pleased to announce its audited final results for the full year ended 30 June 2019 (\"the Period\").\n \nHighlights\n \nOperational\n· Continued drilling campaign to define JORC compliant resources at Mine and enable a comprehensive understanding of the mineralisation on the property and to assess fully the fundamental and future value of the operation\n· Completed the borehole drilling campaign at both the Homestead and Purple Haze deposits \n \nFinancial\n· At 30 June 2019, cash at bank amounted to £421k\n· Group Total Current Assets at 30 June 2019 amounted to £484k\n· Group Overall Net Assets at 30 June 2019 amounted to £420k\n· Successful placing to raise gross proceeds of £0.5 million through the issue of 29,411,765 new ordinary shares of 1p each at a price of 1.70p each\n \nPost Period\n· Exploration at Homestead and Purple Haze deposits has been successful in expanding the footprint with material increases on initial estimates and a Maiden JORC (2012) compliant combined total Indicated and Inferred tantalite and lithium Mineral Resource at these deposits of 324.6 thousand tonnes (\"kt\"), with further resource upside expected to be identified. \n· Successful placing to raise £400,000 (before expenses) through the issue of the 66,666,667 Placing Shares\n· Maiden Inferred Tantalite Resource at White City Deposit of 297,600 tonnes, in line with the Company's pre-exploration programme expectations\n· Company has registered a subsidiary named Kazera Trading, which will operate in conjunction with Kazera Global. Kazera Trading will function as an ore trading arm o...