1st Oct 2021 19:10
Kazera Global PLC - diamonds and rare earths explorer in South Africa and Namibia - Agrees with Tectonic Gold PLC to acquire a 60% controlling interest in Whale Head Minerals Pty Ltd.
Whale Head Minerals owns two heavy minerals sands opportunities in the Port Nolloh/Alexander Bay area of South Africa.
In addition, Whale Head is awaiting the final grant of a mining permit over a five hectare beach sand deposit at Walviskop, which has a JORC indicated mineral resource of 3.11 million tonnes of value heavy minerals at a grade of 61%.
The remaining 10% of the stake will be held by Tectonic and 30% held on trust for future black economic empowerment partners.
The acquisition will be satisfied by the issue of USD250,000 in Kazera shares at the volume weighted average price of 1.36 pence each. The number of shares being issued is 13.5 million shares
Current stock price: 1.325 pence
Year-to-date change: down 7.0%
By Dayo Laniyan; [email protected]
Copyright 2021 Alliance News Limited. All Rights Reserved.
Related Shares:
Kazera Global