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Katoro Gold (KAT)

Discussion in 'Forum Requests' started by BigP, Jun 25, 2020.

  1. BigP

    BigP Keeping the Faith

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    Katoro Gold PLC
    £1.1m Raised in Oversubscribed Placing
    RNS Number : 0743R
    Katoro Gold PLC
    25 June 2020

    Katoro Goldplc(Incorporated in England and Wales)

    ( Registration Number: 9306219)

    Share code on AIM: KAT

    ISIN: GB00BSNBL022

    ("Katoro"or"theCompany")

    Dated: 25 June 2020


    Katoro Gold PLC ('Katoro' or the 'Company')


    Katoro Gold Raises £1.1m in Oversubscribed Placing


    Katoro Gold PLC (AIM: KAT), the gold and nickel exploration and development company, is pleased to announce that is has raised £1.1m (gross), through an oversubscribed placing and subscription of new ordinary shares at 1.5 pence per share (the 'Fundraise').



    Fundraising Rationale:



    The recent disposal of the Imweru Gold Project to Lake Victoria Gold Limited ('LVG') has enabled Katoro Gold to focus on its core assets - The Blyvoor Gold Project and The Haneti Polymetallic Project. With both the Blyvoor and Haneti projects at a pivotal moment in their development / commercialisation, our bolstered financial strength now enables the company to accelerate the development strategies for all projects aggressively.


    Louis Coetzee, Executive Chairman of Katoro Gold plc commented:

    "I am delighted with the support shown from our current shareholders and welcome a number of new high net worth investors to our register. This is indicative of the significant progress Katoro Gold has made over the last 6 months on our strategic base and precious metal portfolio. The Company is particularly pleased that funding in the latest oversubscribed placing was offered directly to the Company, originating from current and new high net worth investors who are eager to see the developing business model gain further traction."

    "The board believes that the Katoro projects hold the potential for near term cashflow generation, royalty streaming and tier-one exploration discoveries. The oversubscribed placing, augmented by the proceeds of the recent sale of Imweru, provides Katoro with the ability to drive forward at pace on multiple fronts".



    "The Company will provide the market in the near term with further updates related to progress on our core projects."

    Use of Proceeds:


    The Blyvoor Gold Project:

    The recent positive announcement of the Blyvoor Gold Scoping Study saw significant interest from 14 possible funders, looking at providing the necessary financing to support the construction and development of the Project. Further updates to these financing discussions will be provided in due course.


    With long term working capital now secure, the Company can immediately navigate from a position of strength and deliver the best possible financing package that allows the Company to drive the project towards commercialisation and strengthen shareholder value.


    The Haneti Polymetallic Project :

    In recent months, Katoro has received mid and tier 1 approaches with a view to earn-in, joint venture or similar, in respect of the Haneti Project, with a primary focus on the nickel sulphide potential.


    Whilst these discussions are ongoing, the Company will continue to enhance the intrinsic value of the project through further exploration work. In this regard the Company intends to finalize and execute an exploration drill program over the existing drill ready targets at Haneti. (For further information on Haneti please see RNS dated 26 June 2019)



    Details of Fundraise:

    · Katoro has raised £1.1m (gross) through a placing and subscription of 73,333,333 new ordinary shares of 1 pence each in the capital of the Company ('Ordinary Shares') ('Financing Shares') at 1.5 pence per share with new and existing shareholders; and

    · Every two Financing Shares has an attaching warrant to subscribe for a further new Ordinary Share at an exercise price of 3 pence per warrant, with a life to expiry of 3 years from the Financing Shares admission to trading on AIM ('Admission'), creating 36,666,666 new warrants ('Financing Warrants').

    In addition to the Financing Warrants, the Company currently has 32.4 million warrants outstanding, including 10 million warrants held by Power Metal Resources plc (LON: POW) exercisable at 1.25p per warrant, 5.2 million warrants held by participants in the October 2019 fundraise exercisable at 1.50p per warrant, and 17.2 million warrants held by participants in the March 2020 fundraise exercisable at 2p per warrant.


    The Directors also participated in the Fundraise. Details of the shares purchased by Directors are as follows:



    Table 1: Directors' Shareholding Before & After Fundraise






    BEFORE FUNDRAISE


    AFTER FUNDRAISE



    Shares Held Prior to Issue of Financing Shares

    % Holding in Katoro Before Issue of Financing Shares




    Number of Financing Shares Issued

    Number of Katoro Shares Held after Issue of Financing Shares

    Total Value of Financing Shares Issued at Deemed Value of GBP 0.015 per Katoro Share


    % Holding in Katoro After Issue of Financing Shares


    Name

    Position

    Paul Dudley

    Non-Exec. Director

    1,166,667

    0.47


    666,666

    1,833,333

    £10,000

    0.57

    Myles Campion

    Non-Exec. Director

    1,750,000

    0.70


    666,666

    2,416,666

    £10,000

    0.75

    Tinus Maree

    Non-Exec. Director

    0

    0


    666,667

    666,667

    £10,000

    0.21

    Louis Scheepers

    Non-Exec. Director

    0

    0


    666,667

    666,667

    £10,000

    0.21

    Louis Coetzee

    Executive Chairman

    0

    0


    666,667

    666,667

    £10,000

    0.21



    Table 2: Directors' Warrant Holding Position Before & After Placing






    BEFORE FUNDRAISE


    AFTER FUNDRAISE



    Warrants Held Prior to Issue of Financing Shares



    Number of Financing Warrants exercisable at 3p each

    Expiry Date

    Total Number of Warrants



    Name

    Position




    Paul Dudley

    Non-Exec. Director

    0


    333,333

    8 July 2023

    333,333



    Myles Campion

    Non-Exec. Director

    0


    333,333

    8 July 2023

    333,333



    Tinus Maree

    Non-Exec. Director

    0


    333,333

    8 July 2023

    333,333



    Louis Scheepers

    Non-Exec. Director

    0


    333,333

    8 July 2023

    333,333



    Louis Coetzee

    Executive Chairman

    0


    333,334

    8 July 2023

    333,334




    The Directors and Management of the Company shown in the above tables are Persons Discharging Managerial Responsibility ("PDMRs") under the Market Abuse Regulation 2016 ("MAR"). In compliance with MAR and the Company's Share Dealing Code they have submitted dealing request forms to the designated Company executives seeking permission to participate in the Fundraise and authority has been granted. Dealing notification forms will be completed by the PDMRs and submitted to the FCA within 3 days of completion of the Fundraise in accordance with MAR.


    Admission and Total Voting Rights

    Application will be made for the Admission of the Financing Shares, with such Admission expected to become effective on or around 9 July 2020. Following Admission, the share capital of the Company will comprise 323,698,310 Ordinary Shares.
     
  2. BigP

    BigP Keeping the Faith

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    KATORO GOLD PLC (KAT) ORDINARY 1P
    Sell:1.80p Buy:2.00p [​IMG] 0.30p (13.64%)
     
  3. BigP

    BigP Keeping the Faith

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    HawaiifiveO

    Posts: 1,841

    Price: 1.70

    RE: KAT PRESENTATIONToday 13:28
    Coetzee has ability to deliver on feasibility studies and introducing partners into projects, the $hit hit the fan at Kibo when the blue sky Mbeya Coal/Power project was booted out by the erratic Tanzania Government which has destroyed so many overseas companies operating in country.

    Fact is KAT's gold project is in South Africa where Coetzee many of his advisors reside, they have also recruited the former CEO of Harmany Gold to oversee operations and he will surely assist in securing the ultimate financial plan.

    Also of note, the stake held by POW, Paul Johnson held a large position in Kibo Mining for the then micro cap Metal Tiger, he made a cool £1m profit for them when Kibo shares multi bagged. I suspect he will make similar money here.

    This looks a great entry point IMO.
     
  4. BigP

    BigP Keeping the Faith

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    12 June 2020

    Katoro Gold plc ('Katoro' or the 'Company')


    Completion of Disposal - Imweru Gold Project


    Katoro Gold plc (AIM:KAT), the gold and nickel exploration and development company, is pleased to announce the completion of the disposal of the Imweru gold project ('Imweru' or 'the Project') to Lake Victoria Gold Limited ('LVG').


    Highlights:

    · Further to the Company's announcement of 8 April 2020, the disposal of Imweru is now complete for a total staged consideration of US$1.0 million and a 1.5% Net Smelter Royalty ('NSR') on all future gold production (the 'Transaction')

    · The Transaction has been approved by the Mining Commission in Tanzania with a "Consent Certificate" issued by the Executive Secretary of the Mining Commission

    · Final Condition Precedent now met and the Transaction between LVG and Katoro has been completed


    Louis Coetzee, Executive Chairman of Katoro Gold, said: "The completion of this disposal enables the management team at Katoro to focus financial and managerial resources on the highly significant Blyvoor gold tailings production project. The focus on Blyvoor is important, particularly recognising the progress being made and the extensive interest from project level financing partners.


    "The disposal also adds to the Company's working capital, including up to US$1 million in cash payments and a 1.5% net smelter royalty, which is a valuable asset recognising the near-term operational plans and anticipated scale of production.


    "I wish the team at LVG well as it develops the business and executes a smooth and accelerated pathway into gold production."
     
  5. BigP

    BigP Keeping the Faith

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  6. BigP

    BigP Keeping the Faith

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    RNS Number : 5783R
    Katoro Gold PLC
    01 July 2020

    Katoro Goldplc(Incorporated in England and Wales)

    (Registration Number: 9306219)

    Share code on AIM: KAT

    ISIN: GB00BSNBL022

    ("Katoro"or"theCompany")

    Dated: 1 July 2020


    Katoro Gold PLC ('Katoro' or the 'Company')


    Blyvoor Gold Production JV - Project Update


    Katoro Gold plc (AIM: KAT), the AIM listedgold and nickel exploration and development company, is pleased to provide an update with regard to its Blyvoor Joint Venture (the "JV") in respect of the Blyvoor gold tailings project (the "Project").


    The Company is delighted to announce that the JV-management and technical team will be conducting an extensive site visit from 1 to 2 July 2020, at the Project; the main objective is the acceleration of progress in two key areas of the JV:


    Blyvoor Project Financing

    The Company announced on 29 May 2020, that as a result of the positive Blyvoor Scoping Study results, no less than 14 parties had expressed interest in providing project level financing to support the construction and development of the Project. The level of partner interest exceeded expectations and required the Company to undertake a period of intensive review work to investigate and review potential partners.


    The Company has now progressed the funding process to the point where it is finalising a shortlist of potential financing partners and is working closely with these potential finance partners, advisors, and its JV partners, to finalise an appropriate project level financing package. As this continues to be adversely impacted by COVID-19 associated delays, the JV-management will, during the site visit on 1 and 2 July 2020, address these issues and identify measures that will ensure the expeditious completion of the funding process.


    The Company expects to provide a further update to the market in respect of project level financing and associated timelines shortly after completion of the site visit referred to above.


    Definitive Feasibility Study

    The upcoming site visit will mark the commencement of the resource upgrade programme that forms part of the technical work required for the completion of the Definitive Feasibility Study ("DFS"). The resource upgrade programme will consist of both an exploration and geotechnical drill programme as well as confirmatory metallurgical test work. The programme will increase the resource confidence level to declare a probable reserve for DFS purposes. It will also provide critical metallurgical data to ensure optimal gold recovery rates in the final detail design of the gold processing plant required to process the Blyvoor tailings.


    Louis Coetzee Executive Chairman of Katoro Gold plc commented: "We were pleased to see the level of interest shown in the Blyvoor gold project, with the number of potential finance partners exceeding expectations. We have therefore spent much of June reviewing the parties and focusing on identifying a select shortlist from which we believe we can secure the best possible funding solution for the Project. We are, however, experiencing various frustrating delays due to COVID-19 constraints, most notably where it concerns the most ordinary of activities like, for example, free movement of people and the resultant impact on something like conducting due diligence site visits.


    "In the meantime, we are pushing ahead at pace with the DFS and other work programmes focused on preparing for gold production and remain confident that the timelines set out in previous announcements will still be achieved.


    "This is an intensive, but highly exciting point in the Company's development and we are looking forward to providing further updates to the market as we continue to progress towards first gold production from the Blyvoor tailings facilities.
     
  7. BigP

    BigP Keeping the Faith

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    Financiers line up for Katoro Gold’s Blyvoor gold tailings project
    Jul 1, 2020


    [​IMG]Katoro Gold has provided an update with regard to its Blyvoor Joint Venture in respect of the Blyvoor gold tailings project.

    The Company is happy to announce that the JV-management and technical team will be conducting an extensive site visit from 1 to 2 July 2020, at the Project; the main objective is the acceleration of progress in two key areas of the JV:

    Blyvoor Project Financing

    The Company announced on 29 May 2020, that as a result of the positive Blyvoor Scoping Study results, no less than 14 parties had expressed interest in providing project level financing to support the construction and development of the Project.

    The level of partner interest exceeded expectations and required the Company to undertake a period of intensive review work to investigate and review potential partners.

    The Company has now progressed the funding process to the point where it is finalising a shortlist of potential financing partners and is working closely with these potential finance partners, advisors, and its JV partners, to finalise an appropriate project level financing package.

    As this continues to be adversely impacted by COVID-19 associated delays, the JV-management will, during the site visit on 1 and 2 July 2020, address these issues and identify measures that will ensure the expeditious completion of the funding process.

    The Company expects to provide a further update to the market in respect of project level financing and associated timelines shortly after completion of the site visit referred to above.

    Definitive Feasibility Study

    The upcoming site visit will mark the commencement of the resource upgrade programme that forms part of the technical work required for the completion of the Definitive Feasibility Study (DFS).

    The resource upgrade programme will consist of both an exploration and geotechnical drill programme as well as confirmatory metallurgical test work.

    The programme will increase the resource confidence level to declare a probable reserve for DFS purposes.

    It will also provide critical metallurgical data to ensure optimal gold recovery rates in the final detail design of the gold processing plant required to process the Blyvoor tailings.

    Louis Coetzee Executive Chairman of Katoro Gold commented:

    “We were pleased to see the level of interest shown in the Blyvoor gold project, with the number of potential finance partners exceeding expectations.

    “We have therefore spent much of June reviewing the parties and focusing on identifying a select shortlist from which we believe we can secure the best possible funding solution for the Project.

    “We are, however, experiencing various frustrating delays due to COVID-19 constraints, most notably where it concerns the most ordinary of activities like, for example, free movement of people and the resultant impact on something like conducting due diligence site visits.

    “In the meantime, we are pushing ahead at pace with the DFS and other work programmes focused on preparing for gold production and remain confident that the timelines set out in previous announcements will still be achieved.

    “This is an intensive, but highly exciting point in the Company’s development and we are looking forward to providing further updates to the market as we continue to progress towards first gold production from the Blyvoor tailings facilities.”
     
  8. BigP

    BigP Keeping the Faith

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    Record gold prices beckon huge profits for Katoro at Blyvoor (KAT)


    With gold prices soaring, junior miners with strong projects are in ultra-high demand.

    The yellow metal pushed past eight-year highs against the US dollar on Monday 18 May to reach $1,762 per ounce (“/oz”). The same trading session saw the precious commodity smash all-time records against most of the world’s other major currencies. Strength has continued throughout the week.

    In a market like this, one company, in particular, has a prime opportunity to make its investors a lot of money.

    We sat down with Louis Coetzee, chief executive of Katoro Gold (LSE:KAT), to get the inside track on what’s next for Blyvoor – the firm’s exciting precious metals project in South Africa.

    upload_2020-7-4_15-27-17.png

    Aerial view of the Blyvoor project (Source: Katoro Gold)

    Carltonville is a busy mining town west of South Africa’s capital Johannesburg. When gold was first discovered there in 1886, it transformed the country from a farming-led economy into the most industrialised nation on the continent. It also helped to create some of the world’s most profitable mining companies, like Anglo American(LSE:AAL).

    The area is now home to Katoro’s Blyvoor project, a 50-50 joint venture with Blyvoor Gold Operations. At Blyvoor, Katoro and its partner will focus on processing “tailings” from previous gold mining schemes in the local area.

    This is a lucrative niche.

    Tailings are mineral loads that were once considered to be waste products. However, thanks to novel extraction techniques developed only in the last ten years, previously-overlooked gold in this discarded rock can now be extracted economically.

    This approach has worked wonders for De Beers in South Africa. Thanks to advances in separating, sorting and crushing equipment, the world’s largest diamond miner famously managed to extract 815,036 carats of diamonds from several million tons of tailings in 2013 and operations will continue beyond 2030.

    Outstanding scoping study

    Earlier this month, Katoro took a huge step forward at Blyvoor when it released the results of its scoping study for the project.

    The work assumes the asset will operate for 25 years, during which production capacity will build up to 500,000 tons of tailings ore per month and 35,000 ounces of gold production per year.

    These rates translate into a net present value of US$131 million, a 25% internal rate of return, and a return on investment (“ROI”) of 260%. Meanwhile, revenues over the life of mine are expected to reach US$992 million against total capital costs of US$110 million. All-in sustaining costs are forecast to sit at just US$727 per ounce of gold.

    These are already very impressive figures. However, they become even more impressive when you consider the extremely conservative measurements Katoro used to reach them.

    One such example is the company’s assessment of Blyvoor’s recovery rate. Although test work showed this to be as high as 62%, Katoro used an average recovery of 52% - 10% lower.

    Likewise, the ROI was calculated using a very conservative gold price of just $1500/oz. With gold now breaking record prices, this figure is free to rise exponentially.

    The context of the numbers is critical to consider,” explains Coetzee. “Our approach was not to see what is the best-case scenario, it was to say “If we pick this apart, and if we strip it down to the bare bones, does it still present us with a decent opportunity?" The answer is a clear yes, and this scoping study has demonstrated Blyvoor’s true integrity as a project."

    Alongside the attractive economics of its contained resource, there are several other areas of potential financial upside to consider at Blyvoor.

    For example, although novice investors often overlook the impact of currency on overseas operations, the exchange rate is essential for Katoro. See, the firm is paid in US dollars but incurs costs in South African rand. In the last 12 months, the rand exchange rate has surged against the US dollar- there is now 18.46 rand to the dollar, compared to just 14 a year ago. This means there’s no better time to undertake work in the country.

    Meanwhile, another pivotal point is the fact that previous work completed at Blyvoor has been significant enough to allow Katoro to proceed straight to the definitive feasibility study (“DFS”) stage from its scoping study. In doing so, it skips the time burden and costs associated with the pre-feasibility stage.

    Is this particularly common in mining?

    No,” says Coetzee. “It’s not common for projects like this at all, especially in the mining side. The historic work that was done on Blyvoor was more than enough in terms of quality and quantity that we can progress and proceed immediately with a DFS. This saves us both time and money.”

    Finally, one of the most exciting things about Blyvoor is Katoro's belief that the project will reach first production within just 18-24 months. For shareholders, this is a very short timeline to revenue – especially when Katoro’s market cap currently sits at just £5.2 million.

    So, where will news come from next? More importantly, will it be able to extend the strong run Katoro’s share price has enjoyed since March?

    Coetzee believes so, pointing to the numerous potential funding partners now circling Blyvoor:

    From the time we first announced this transaction we started engaging with potential funders. There's quite a number of them. There's quite a few that have shown quite a keen interest, and this has only increased since we made the scoping study results available,” he says.

    All in all, Katoro looks to have a brilliant opportunity ahead of it at Blyvoor. New investors should watch closely – the firm’s current 2p share price could soon look very cheap
     
  9. BigP

    BigP Keeping the Faith

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    RE: Expectations05 Jul 2020 16:30
    All depends on the terms of the deal and how it unfolds, regardless of terms, I believe it's in the ball park of 11mil cash, 30-35 complete funding, and that's fully funded to production in 18month.

    Once production starts at 250,000 tones
    Ramp up to 500,000 tones
    And in the most recent interview spoke about even further to 1,000,000 tones

    KATs percentage of 500,000 tones would equate to ruffly 20mil an year.

    Plus hanteti, currently undergoing it's scoping study to produce a JORC resource, and in discussions for tier 1 funding similar to blyvoor.

    Depending on how the deal looks I expect someone in the region of 10-20 mil Mcap, and then having the potential to be a great investment to hold up to production in 18months while hanteti plays out.
     
  10. BigP

    BigP Keeping the Faith

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    With price now seemingly on a consistent upward trajectory it's important to remember that this has come in the aftermath of a significant placing which underlines how big an opportunity and the scale of investor sentiment in my view.
    With the financials put together on a basis of 1,500/oz and recover rate of 50% and it's a highly lucrative opportunity at that we now discover that the price of gold has soard to almost 1800/oz and recovery rate closer to 60% then this is a stone wall no brainer.
    Site visits completed and imminently waiting Katoros decision on JV partner. Exciting times ahead!

    correct re recovery being closer to 60% than 50%.
    In addition the $/ZAR exchange rate has moved in
    their favour as all costs are ZAR and sales $. On top
    of this the numbers haven't even been optomised
    Yet.
    So the question is how much has the original $131m
    NAV(5%) been increased. The main influence is the
    POG which was assumed to be a constant $1500/oz
    With an all I cost of $730 and gold at $1500 the profit
    per oz is $770. However with costs slightly lower at
    $700 and gold at $1780 this increases to $1080 representing
    an improvement of 40%....... In other words the project has
    it's own leverage to the POG. If gold were to rise to $2100
    over the next 12 months then that profit would be further
    enhanced to $1400 an oz.
    The NAV(5%) is highly leveraged to the POG
    @$1500 NAV $131m ........ 50% is. 21p a share
    @$1780 NAV $183m..................... or 30.5p
    @$2100. NAV $238m. ................. or. 40p

    Conclusion ......... this if 'probably the best'
    way to hold some gold in a share portfolio
    'in the world'. Carlsberg Investing !!!!!

    is how much has this
    With an all in cost of $730 per oz
     
  11. BigP

    BigP Keeping the Faith

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    KATORO GOLD PLC (KAT)
    Sell:2.10p Buy:2.30p [​IMG] 0.25p (+12.82%)
     
  12. BigP

    BigP Keeping the Faith

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    Tue, 21st Jul 2020 12:45

    RNS Number : 6513T
    Katoro Gold PLC
    21 July 2020

    Katoro Goldplc(Incorporated in England and Wales)

    (Registration Number: 9306219)

    Share code on AIM: KAT

    ISIN: GB00BSNBL022

    ("Katoro"or"theCompany")


    21 July 2020


    Katoro Gold plc ('Katoro' or the 'Company')


    BLYVOOR GOLD TAILINGS PROJECT: PROJECT FUNDING UPDATE


    Katoro Gold plc (AIM: KAT), the AIM listedgold and nickel exploration and development company, is pleased to announce an update with regard to the Company's Blyvoor Joint Venture (the 'JV') in respect of the Blyvoor gold tailings project (the 'Project').

    Following a significant increase in interest from possible funders and an extensive site visit by the JV-management and technical team, the Company is pleased to announce that the JV partners have agreed a strategy and associated deadlines for securing Project financing. Katoro will look to complete the Project Financing on or before 30 September 2020, which will be sufficient to fund the construction and commissioning of a Beneficiation Plant and auxiliary operations.

    With this revised timeframe the JV Partners believe there is sufficient time to duly entertain and properly consider preferred funding options/proposals from the potential funders they have received interest from and are in dialogue with, so as to secure the best possible financing option. The impact of COVID-19 however remains a harsh reality and it will continue to influence the pace and manner in which we can meet agreed deadlines.

    Louis Coetzee, Executive Chairman of Katoro, said:

    "The strong levels of interest we have received from no less than 14 parties keen to provide project level financing to support the construction and development of the Blyvoor Project is a clear indication of its value potential.


    "Whilst we have always been comfortable alongside our JV partners with regard to our ongoing partnership, we recognized that many investors wanted some clarity as to Katoro's exclusivity position after the expiry of the June 2020 project level funding deadline caused principally by Covid-19 disruption and the extensive interest from third parties. In response we have agreed a formal extension to 30 September 2020 which we trust will address concerns investors may have with the security of our position in the Blyvoor JV.


    "Our primary responsibility remains to ensure we identify the best possible partner(s) and funding option(s) that will best support and realize our JV goal of delivering significant near-term revenue generation within a very aggressive timeline."


    Further background details on the Blyvoor Scoping Study and project are available in the announcements of 30 January 2020, 07 May 2020, 29 May 2020 and 1 July 2020 on the Company's website at www.katorogold.com
     
  13. BigP

    BigP Keeping the Faith

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    RE: StockBox Interview with Louis Coetzee & Graham Briggs Released Today

    Katoros full funding deadline is on the 30th of September. 4 weeks and 2 days away.

    Here's the interview from this weekend, it shows all confidence in the 30-35 mil deal happening in 4 weeks. Below iv posted the transcript from the interview. 7-10p on conclusion.

    https://www.pscp.tv/w/1yNxaBVPAAqKj

    "Without getting myself into hot water, by divulging into information that isn't already in the public domain, I can confirm we are making good progress on the funding side. Things are progressing quite well, and we continuing to have very constructive and very productive engagement with a number potiencial funders. That process i must say I am very pleased with, the progres that we've be making especially in the last couple weeks, it's always a challenge to get something like this up and running, to get it going from the moment you decide to do it. We've been inundated with approaches as we've said in the past, and as we've communicated with the market aswell, we are pursuing a quite number of these initiatives at this moment, and as iv said just now, making really good press, I'm very satisfied with the progress we are making"

    "Still on target, still on-time, confident we will meet our deadlines from a funding and from a operational point of view"

    https://goldprice.org/live-gold-price.html

    14 bidders looking to fully fund blyvoor
    Containing and derisking 1.3mil Oz
    $688 all in sustaining costs
    Production 12-18 months
    Working capital and cash until after deal conclusions
    +
    Hanteti drilling program due to start shortly. 2nd asset a potiencially a giant nickle resource.
    Stagger payments from sale or imeru - first and second 100k due shortly



    Production numbers to be optimised to 70k Oz per annum.

    Still sub 8milmcap at 2.42p. I'm expecting a 10-15 Mcap 3-4.5p before news, and 7-10p on conclusion of the 30-35million deal. ( 25-35+Mcap )

    After the last delays, I believe we will find out before the 30th.
     
  14. BigP

    BigP Keeping the Faith

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    Katoro Goldplc(Incorporated in England and Wales)

    (Registration Number: 9306219)

    Share code on AIM: KAT

    ISIN: GB00BSNBL022

    ("Katoro"or"theCompany")

    Dated: 03 September 2020


    Katoro Gold PLC ('Katoro' or the 'Company')

    BLYVOOR GOLD PRODUCTION JV - GENERAL PROGRESS UPDATE

    Katoro Gold plc (AIM: KAT), the AIM listedgold and nickel exploration and development company, is pleased to announce an update in respect of the Blyvoor gold tailings project (the "Project").

    Following the successful site visit during July 2020 (See RNS of 20 July 2020), the Blyvoor Gold Joint Venture ("JV") management and technical team have concluded all final planning and preparations for the resource upgrade program at TSF6 and 7. A suitable drilling contractor has since been engaged and drilling is currently well underway and on schedule. The drilling programme is a key activity in the resource upgrade programme that forms part of the technical work required for the completion of the Definitive Feasibility Study ("DFS").

    On 29 May and 21 July 2020, the Company updated the market on the very positive interest it received in project level funding for the Blyvoor Gold Project. The Company has since and continues to make good progress in this regard and is currently engaged in very focussed discussions / negotiations with a selected number of potential funders on the basis of formal expressions of interest / proposals received.

    Louis Coetzee, Executive Chairman of Katoro Gold plc, commented:

    "We are very pleased with the significant increase in momentum across all project activities and work streams, in spite of the very real COVID-19 restrictions and impact in South Africa. We are particularly pleased with progress on the various funding initiatives over the past month.

    "This is an exciting time in the Company's development. We have a competent team on the ground and look forward to provide further updates to the market on this exciting project as we continue to progress towards gold production from Blyvoor."
     
  15. BigP

    BigP Keeping the Faith

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    Katoro Gold PLC
    01 October 2020

    Katoro Goldplc(Incorporated in England and Wales)

    (Registration Number: 9306219)

    Share code on AIM: KAT

    ISIN: GB00BSNBL022

    ("Katoro"or"theCompany")


    01 October 2020


    Katoro Gold plc ('Katoro' or the 'Company')


    Haneti Project Nickel Drill Programme - Pre-Mobilisation


    Katoro Gold plc (AIM:KAT), the AIM listedgold and nickel exploration and development company, is pleased to provide an update with respect to the planned drilling programme targeting the discovery of nickel and platinum group metals ("PGM") at the Haneti Project ("Haneti") in Tanzania.

    Katoro Gold PLC holds a 65% ownership interest in Haneti with 35% held by Power Metal Resources PLC ("POW").

    HIGHLIGHTS:

    · Pre-drill rig mobilisation now underway to finalise preparations for the maiden drilling programme targeting nickel sulphide and PGM mineralisation.


    · Technical team mobilising to site shortly to liaise with the Tanzania Ministry of Minerals and regional/local government, prepare equipment for mobilisation and arrange ground operational staffing.


    · The drill contractor availability has now been confirmed and the key objective is for mobilisation of the drilling rig and field team to site as soon as possible, subject to applicable Covid-19 related restrictions.

    Louis Coetzee, Chairman of Katoro Gold plc, commented: "I am very pleased that we are able to announce the mobilisation of the first exploration drilling program at Haneti. We believe that Haneti holds significant potential to host a world class nickel deposit within a previously identified 80km long ultramafic complex. Previous exploration work in this complex delivered nickel values as high as 13.6% and 2.33 g/t combined platinum and palladium."
     

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