6th Aug 2021 11:05
Katoro Gold PLC - Exploration and development company operating with projects in South Africa and Tanzania - Says funding process for Blyvoor gold project joint-venture in South Africa came to "abrupt standstill" amid civil unrest in Kwazulu-Natal and Gauteng provinces. Katoro says some investors and lenders, who made initial funding proposals, need time to reassess whether unrest has and country risk impacts plans. "Some of the potential funders have subsequently indicated that they are satisfied that the latest events in South Africa did not have any adverse impact on their existing risk rating, and negotiations/discussions with these potential funders have since resumed, while the company awaits the final decision from those preferred funding parties who have not yet completed their country risk re-assessment," Katoro adds. At Haneti polymetallic project in Tanzania, Katoro says drill programme and associated budget for asset to be submitted for approval.
Current stock price: 0.84 pence
Year-to-date change: down 63%
By Eric Cunha; [email protected]
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