Business
Interim Results for six months ended 31 Dec 2019
Interim Results for six months ended 31 Dec 2019.
About this update from Kazera Global Plc
[{"type":"text","content":"\n \n \n RNS Number : 7940H\n Kazera Global PLC\n 27 March 2020\n \n \n \n \n 27 March 2020 \n \n \n Kazera Global plc \n \n \n Interim Results for the six months ended 31 December 2019\n \n \n Kazera Global plc (\"Kazera Global\", \"Kazera\" 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 (\"NTI\" or the \"Mine\") in Namibia, is pleased to announce its unaudited interim results for the six months ended 31 December 2019 (\"the Period\").\n \n \n Highlights:\n \n \n Operational\n \n \n · \n Successful exploration campaign at Homestead and Purple Haze deposits with material increases on initial estimates and a Maiden JORC (2012) compliant Mineral Resource identified at these deposits\n \n \n ·\n Maiden Inferred tantalite Resource at White City Deposit of 297.6 thousand tonnes (\"kt\"), in line with the Company's pre-exploration programme expectation. Strong grades of 105 parts per million Ta2O5 measured.\n \n \n · \n Across White City, Purple Haze and Homestead, the mine now has a maiden JORC Compliant Mineral Resource Estimate of 622.2 kt of lithium and tantalite resources.\n \n \n ·\n Kazera registered a subsidiary named Kazera Trading, which will operate in conjunction with Kazera Global. Kazera Trading will function as an ore trading arm of the Company facilitating the global movement of resources such as tantalum, leveraging the experience of Kazera's management. Initial trades have already been agreed by the Company. \n \n \n ·\n Implemented water management and efficiency measures across the property. \n \n \n · \n Endeavoured to reduce diesel usage and has begun to use solar panels to power all water bore holes across the property. Additionally, the Company installed a bulk diesel system directly at the village generator which enables the Company to have access to 50 days of energy supply from the generator \n \n \n \n \n \n Financial\n \n \n · \n At 31 December 2019, cash at bank amounted to £0.26m\n \n \n · \n Total Current Assets at 31 December 2019 amounted to £0.35m\n \n \n · \n Overall Net Assets at 31 December 2019 amounted to £3.3m\n \n \n · \n Successful placing to raise £400,000 (bef...