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Katoro Gold boasts of “highly active” first half

"2018 has already been a highly active year for the company,” Coetzee said
miners
"2018 has already been a highly active year for the company,” Louis Coetzee said

Katoro Gold PLC (LON:KAT) executive chairman Louis Coetzee highlighted an already “highly active” year as the Tanzania-focused explorer released results for the first half.

The company, in the interim statement, described ‘positive progress’ in its efforts to build a diversified mining portfolio.

READ: Katoro Gold booms as it confirms plans to press ahead at Imweru project

During the period, it entered into a deal to acquire 100% interest in Kibo Nickel Ltd, the polymetallic Haneti nickel project, and, elsewhere, it has completed the technical aspects of the Imweru gold project.

"2018 has already been a highly active year for the company,” Louis Coetzee, the company's executive chairman said.

“We have focused on the development of the Imweru gold project as well as delivering on our strategy to diversify the company's asset portfolio by agreeing to the conditional acquisition of Kibo Nickel. 

“We now believe that we have a strong platform for growth in order to provide value to our shareholders."

Katoro raised £325,000 of new capital via a share placing during the period, with the funds earmarked for the continuing development of the portfolio.

It ended the six month period with £384,677 in cash and equivalents, while the pre-revenue firm reported a £153,279 loss.

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