Kazera Global PLC Investee Company Operational Update (7987V)
26 July 2018 - 4:02PM
UK Regulatory
TIDMKZG
RNS Number : 7987V
Kazera Global PLC
25 July 2018
26 July 2018
Kazera Global plc
Investee Company Operational Update
Kazera 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 ("NTI" or the "Mine") in Namibia,
provides the following operational update.
Kazera Global confirms that it has commenced its drilling
campaign across Tantalite Valley to establish a JORC resource.
Early drill cores from the MSA Group ("MSA") look highly
encouraging with the programme continuing on its path.
The drilling campaign will ultimately define a JORC resource and
enable a comprehensive understanding of the mineralisation on the
property and to truly assess the fundamental and future value of
the operation. The expectation is for the target zones to represent
extensive satellite deposits to feed the refurbished and scalable
plant. The Mine workforce has been redirected to building access
roads in the steep terrain on the Signaalberg to target exploration
zones and potential mining orebodies on the Licence.
Mining has continued at Homestead producing stockpiled Tantalite
and Lithium bearing ore for future processing and Aftan shipped its
6(th) shipment of high grade tantalum to its customer during July.
In light of the Company and Aftan's focus on mineralisation through
exploration and strict capital discipline, Aftan has ceased ore
processing while the exploration campaign takes place and a
conclusive long-term mine plan is developed.
The strategic focus on total resource definition has also led to
the Company receiving a number of approaches from additional
potential customers of Aftan's product. Together with Aftan, Kazera
is exploring these various opportunities with the interests of
delivering additional long-term value.
As the exploration programme develops across the property, the
Company intends to provide updates on results as each specific ore
body is drilled, tested and analysed.
Orange River
Following receipt of the water licence to acquire water from the
Orange River, Aftan, under the guidance of Kazera's CEO, has had 7
companies inspect the property and river as part of the tender
process on the Orange River pipeline. This is a very important
licence and process. The licence will ensure water will not be an
issue for the operation regardless of the future size of the plant.
In a dry country this is of critical importance. Additionally, the
tender process will identify the cost of the pipeline assisting
future strategic planning.
Photos of recent core samples and contractor visits can be found
on the Company's website at
https://kazeraglobal.com/gallery/photos/
Larry Johnson, CEO of Kazera Global, said:
"I am pleased to report positive momentum in the exploration
campaign and I am excited to see the results as it develops. The
strategic focus on truly understanding the mineralisation on the
licence is critical to extract, in the long term, the most value
out of Tantalite Valley. This will allow Aftan and Kazera to
conclusively develop a long-term mine plan that goes beyond
Homestead and includes what we think will prove to be economic
satellite deposits across the licence. In light of this, it is
important the business is run with strict capital discipline and
the recent retrenchments, ceasing processing and building access
roads will ensure the operation restarts in an optimal position.
Our existing Customer continues to support this approach and our
strategic shift has been vindicated through further approaches from
a wider group of customers. I look forward to reporting updates on
the results of drilling and analysis of specific ore bodies when
they come available."
**ENDS**
Kazera Global plc (c/o Camarco) Tel: +44 (0)203
757 4980
Larry Johnson (CEO)
finnCap (Nominated Adviser and Joint Tel: +44 (0)207
broker) 220 0500
Christopher Raggett / Scott Mathieson
/ Anthony Adams (corporate finance)
Shore Capital (Joint broker) Tel: +44 (0)207
Mark Percy / Toby Gibbs (corporate finance) 408 4090
Jerry Keen (corporate broking)
Camarco (PR) Tel: +44 (0)203
Gordon Poole / James Crothers / Monique 757 4980
Perks
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END
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