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IN BRIEF: Kazera Global updates on operations in Alexander Bay

1st May 2024 21:47

Kazera Global PLC - mining-focused investment company - Updates on operations at its Whale Head Minerals Pty Ltd heavy mineral sands project in Alexander Bay, South Africa. Confirms that all mechanical commissioning work has now been completed at the WHM heavy mineral sands plant. This includes building reinforced concrete slabs, reassembling machinery, and building and connecting conveyors, bins and pumps. Says final electrical commissioning work is now underway and is expected to be completed within the next few weeks.

Also updates on National Nuclear Regulator. Says recent changes within the NNR now requires companies to provide additional information as to how they will meet financial obligations associated with any nuclear authorisation granted.

"These financial obligations are not expected to be of a material nature for WHM, will be funded from cashflow, and underwritten by the company. The company has now provided the NNR with all required additional information and awaits a response. It is anticipated that the appropriate permit will be issued soon, which will allow heavy mineral sands production and sales to commence," it adds.

Current stock price: 0.68 pence, closed up 5.2% in London on Wednesday

12-month change: down 24%

By Sophie Rose, Alliance News senior reporter

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