Kazera Global PLC Record breaking end to year (8085V)
16 Décembre 2021 - 8:00AM
UK Regulatory
TIDMKZG
RNS Number : 8085V
Kazera Global PLC
16 December 2021
16 December 2021
Kazera Global plc
("Kazera" or the "Company")
Record breaking end to year
Kazera Global plc, the AIM quoted investment company, is pleased
to announce that diamond production for the current production
cycle (ending in January 2022) is already in excess of 750 carats,
with a target of 1,000 carats for the entire cycle. In addition,
the Tantalite Valley mine is now in the final phase of testing,
with Tantalum production on schedule to commence imminently.
Highlights
-- Production in excess of 750 carats during current production
cycle, beating previous highest diamond production of 242
carats.
-- Production target of 1,000 carats now set for the current cycle.
-- Extensive work has been undertaken on the processing plant at
Tantalite Valley in order to enable it to start production.
o The focus has been on water recycling and conservation so as
to be able to produce Tantalum using the water supplies currently
available.
-- The first shipment to the Company's Tantalum off-take partner
is expected by the end of December, with a steady increase in
production during 2022
-- With production increases across its business, the Company
expects to be significantly cash flow positive during 2022 which
will be reinvested into resource definition and mining across the
business.
Background
The past year has been a difficult one operationally due to
Covid and the difficulties in getting diamond gravels mined and
processed. Despite this, the Company has succeeded in getting the
processing plant fully operational and has accordingly been able to
start processing diamond gravels in accordance with its original
business plan. In the year in which it has been operational (the
Company announced its first production of 52 carats in December
2020), the Company has made enormous strides.
At Tantalite Valley, production has always been constrained by
lack of water. The current focus is on producing water from
boreholes and then ensuring that over 65% of the water is
recaptured and reused. The plant has now been totally repurposed to
achieve minimum water loss with plans to cover the entire plant
with a roof to minimise water loss through evaporation. With the
available water now being sufficient to permit production on a
commercial scale, the first consignment of Tantalum is now being
produced and is anticipated that it will be dispatched to the
Company's off-take partner by the end of the year.
Forward Strategy
The Company is confident that it has now overcome the various
difficulties which face all start up mining operations. Both of its
projects are now in production and the Company expects
significantly positive cash flows from the combined operations
during 2022. This will mean that the Company will be able to spend
cash in Namibia on identifying further reserves and on
beneficiating its lithium and other mineral resources. It will also
be able to invest in improving the current plant and sinking
further boreholes to step up production.
The grant of the Mining Permit for Heavy Mineral Sands, expected
before the end of 2021, has not yet been received. The expectation
is that it will finally be received early in 2022. Upon receipt of
this, as previously announced, we expect that within 6 months the
Company will begin generating additional profits of up to $300,000
per month. It is our expectation that these numbers will be
improved even further by introducing a third party to build and
operate a separation plant for which discussions are already
underway with a number of interested entities. Simultaneously, the
Company is pursuing an application for a Prospecting Right over an
area which is approximately 34 times larger than the current
site.
Dennis Edmonds, Kazera Chief Executive Officer, commented:
"2021 has been a very good year for the Company, despite the
difficulties we have had to overcome. With minimal cash we have
succeeded in getting both our diamond and tantalum operations into
commercial production. We look forward with increased confidence to
building upon that foundation in 2022.
"Apart from the material growth of revenues, we see major
upsides from proving up further resources at Tantalite Valley and
developing our lithium resources - a commodity in extremely high
demand as the global economy continues its transition to Net Zero
and increased electrification. We are also enormously excited by
the opportunity to finally commence mining Heavy Mineral Sands.
"My thanks go to all the people who have gone the extra mile to
get the Company to the stage at which we now are. I believe that
2022 will be a transformational year in the fortunes of
Kazera."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No. 596/2014 ('MAR').
For further information on the Company, visit: www. kazeraglobal
.com
Kazera Global plc (c/o Camarco) Tel: +44 (0)203 757 4980
Dennis Edmonds (CEO)
finnCap (Nominated Adviser and Joint Broker) Tel: +44 (0)207 220 0500
Christopher Raggett / Tim Harper (Corporate
Finance)
Camarco (PR)
Gordon Poole / James Crothers / Hugo Liddy Tel: +44 (0)20 3781 8331
**ENDS**
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END
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