Business
Maiden Diamond Delivery
Maiden Diamond Delivery.
About this update from Kazera Global Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 9742E\n Kazera Global PLC\n 11 November 2020\n \n \n \n \n 11 November 2020\n \n \n Kazera Global Plc \n \n \n Maiden Diamond Delivery\n \n \n Kazera Global Plc (\"Kazera Global\", \"Kazera\" or \"the Company\"), the AIM quoted investment company, is pleased to provide the following update.\n \n \n \n \n \n Diamond Production\n \n \n The Company is pleased to announce that, following the commissioning of its scalping /screening plant on Monday, 2 November 2020, it has produced a total of 4,000 tonnes of gravel. Of this, just over 2,000 tonnes of gravel have been processed by the final recovery plant and will be sold in the auction due to take place this month. The actual carat value is likely to be low (around 50 carats), but this is to be expected as the focus was on quantity of gravel produced, rather than the carat content of the gravel.\n \n \n This is an important milestone as it proves the success of the mining operation and the newly commissioned scalping/screening plant working in tandem to produce diamondiferous gravel. The focus now will be on carat content and increased monthly production.\n \n \n Heavy Mineral Sands Project\n \n \n The Company continues to work towards the acquisition of a 90% stake in Whale Head Minerals (Pty) Limited. The Company is currently working with Tectonic PLC to secure the Mining Permit and Prospecting Licence related to the project following which it will move toward completion of the acquisition on the terms announced on 4 June 2020. Progress has been delayed due to office closures brought about by Covid-19 in South Africa, but the system now appears to be working normally.\n \n \n \n \n \n Financing for the Orange River Pipeline\n \n \n In tandem with our maiden diamond bearing gravel delivery which will lead to first cashflow from that project, the Company remains in discussions with future investors for the Orange River pipeline in Namibia. Several parties have undertaken site visits and successfully completed their due diligence investigations. \n \n \n As a result, the Company is in the advanced of stages of negotiation with a major Namibian investor for a substantial equity investment into the Company. The final terms of such investment remain under negotiation and subject to regulatory clearances in Namibia. As such, while the board remai...