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Katoro Gold PLC - Update re Joint Venture with Blyvoor

RNS Number : 7558B
Katoro Gold PLC
03 February 2020
 

Katoro Gold plc (Incorporated in England and Wales)

(Registration Number: 9306219)

Share code on AIM: KAT

ISIN: GB00BSNBL022

("Katoro" or "the Company")

 

 

3 February 2020

 

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

 

UPDATE RE BLYVOOR JV

 

Katoro Gold plc (AIM: KAT), the gold and nickel focussed exploration and development company, is pleased to confirm that, further to its announcement of 30 January 2020 ('the Announcement') regarding the Agreement with Blyvoor and Target to form the JV to exploit potentially viable deposits of gold and any other minerals from six gold tailings dams owned by Blyvoor in South Africa, the Company has, in accordance with the terms of the Agreement:

·        transferred the Initial Tranche of ZAR5.0 million (approximately £263,000); and

·        confirmed to Blyvoor that it has completed a corporate, legal and technical due diligence investigation in respect of Blyvoor and the Tailings and Rights.

 

The Initial Tranche will allow the JV Partners to now continue and accelerate work on the confirmatory test work to optimise the financial projections and conceptual designs for the processing plant as the Company seeks to secure the requisite funding for the Project.

 

Further details on the Agreement, the JV and the Tailings are set out in the Announcement, which can be viewed at the following link:

https://polaris.brighterir.com/public/katoro_gold/news/rns/story/x43nzkw

 

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as those used in the Announcement.

 

Louis Coetzee, Executive Chairman of Katoro, said: "I am pleased to confirm that we are now underway with the JV and the start of what Katoro are aiming to be a highly exciting journey into near term gold production.

 

"I would encourage shareholders and investors generally to read the announcement of 30 January 2020, which provides full details on this significant gold production opportunity for the Company, the transactional terms around this together with the key risk factors. 

 

"This is a substantial opportunity for Katoro.  The size and scale of the project means we have lots of work to do and I look forward to keeping shareholders updated on our progress."

 

 

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.

 

**ENDS**

 

For further information please visit www.katorogold.com or contact:

 

Louis Coetzee

 

[email protected]

Katoro Gold plc

Executive Chairman

Richard Tulloch

Ritchie Balmer

Georgia Langoulant

 

+44 (0) 20 7409 3494

Strand Hanson Limited

Nominated Adviser

Nick Emmerson

Sam Lomanto

 

+44 (0) 1483 413 500

 

SI Capital Ltd

 

Broker

 

Isabel de Salis

Beth Melluish

+44 (0) 20 7236 1177

St Brides Partners Ltd

Investor and Media Relations Adviser

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Katoro Gold

Price: 1.4

Market: AIM
Market Cap: £2.95 m
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