Katoro Gold PLC Statement re broker (5513G)
02 March 2018 - 10:58PM
UK Regulatory
TIDMKAT
RNS Number : 5513G
Katoro Gold PLC
02 March 2018
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
Dated: 2 March 2018
Katoro Gold Plc ('Katoro' or the 'Company')
Statement re broker
Katoro Gold Plc (AIM:KAT), the Tanzania focused gold exploration
and development company, notes the announcement made today by the
Financial Conduct Authority ("FCA") regarding Beaufort Securities
Limited ("BSL"), the Company's broker, and Beaufort Asset Clearing
Services Limited ("BACSL") being placed into insolvency and that
the FCA has imposed requirements on BSL and BACSL to cease all
regulatory activity with immediate effect.
The Company is seeking to appoint a new broker as soon as
possible and a further announcement will be made when this
appointment is made.
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014.
For further information please visit www.katorogold.com or
contact:
Louis Coetzee +27 (0) 83 Katoro Gold Executive Chairman
2606126 plc
Richard +44 (0) 20 Strand Hanson Nominated Adviser
Tulloch 7409 3494 Limited
Ritchie
Balmer
Frederick
Twist
Isabel de +44 (0) 207 St Brides Investor and
Salis 236 1177 Partners Ltd Media Relations
Priit Piip Adviser
Notes to editors:
In May 2017 Katoro was admitted to trading on AIM. Katoro owns
100% of the Imweru and Lubando Gold Projects in Tanzania, which
both have Mineral Resources established in accordance with the JORC
(2012) Code. The total Mineral Resources stated for Imweru consist
of 11.607 Mt at grade of 1.38 g/t for a Mineral Resource of 515,110
oz Au at a resource pay limit of 0.4 g/t for the open pittable
material and 1.3 g/t for the underground material, while the
Lubando Mineral Resources equate to 6.78 Mt at grade of 1.10 g/t
for 239,870 oz Au at a pay limit of 0.4 g/t to a depth of 200 m and
1.3 g/t below the 200 m depth cut-off. The respective projects also
include the earlier stage Sheba (within the Imweru Licence
Portfolio and Imweru Option Portfolio), Pamba and Busolwa (both
within the Lubando Licence Portfolio and Lubando Option Portfolio)
projects. The JORC Code compliant Competent Person's Report for
each of Imweru and Lubando are available on Katoro's website
www.katorogold.com.
The Company's primary focus is on advancing and developing
Imweru through a work programme which will include, inter alia, a
feasibility study and a drilling programme, with the aim, subject
to funding, to commence production with an initial target of 50,000
oz gold per annum within 18-24 months from admission to AIM.
Updates on the Katoro's activities will be announced as required
and posted on its website www.katorogold.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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