LONDON - Kazera Global PLC (AIM:KZG), the AIM-quoted investment company, has been featured in a research report published by Optimo Capital, according to a statement released today. The report, which provides an analysis of Kazera's business and prospects, is now accessible on the company's website.
Kazera's investment strategy focuses on developing early-stage mineral exploration and development assets. The company has a 100% interest in Deep Blue Minerals Pty Ltd, which is engaged in alluvial diamond mining in Alexander Bay, South Africa. Kazera holds 74% beneficially and 26% on behalf of Black Economic Empowerment partners.
The company also has a 70% direct beneficial interest in Whale Head Minerals Pty Ltd, involved in heavy mineral sands mining in the same region. This includes minerals like ilmenite, monazite, rutile, and zircon. Additionally, Kazera is entitled to receive approximately £38 million from dividends through a loan facility agreement with other shareholders of Whale Head Minerals.
Regarding its tantalite mining interests in Southeast Namibia, Kazera had previously announced the sale of African Tantalum Pty Ltd ("Aftan") on December 20, 2022. The deal, worth US$13 million in cash and a debenture payment of 2.5% of gross sales of produced lithium and tantalum for the life of the mine, is pending completion upon full payment receipt. As of January 4, 2023, Aftan has been deconsolidated from Kazera's financial statements due to a relinquishment of control to the purchaser, Hebei Xinjian Construction Close Corp, following the terms of the sale agreement. However, Kazera has initiated legal proceedings against Hebei for the remaining payment owed.
Kazera is actively considering additional investment opportunities to complement its portfolio, taking into account future cash flow requirements.
The information in this article is based on a press release statement and provides an overview of Kazera Global PLC's current business activities and recent developments. Investors are advised to refer to the full Optimo Capital research report for a more detailed analysis of the company.
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