Katoro Gold (KAT)

Sector:

Mining

Index:

FTSE AIM All-Share

0.090p
   
  • Change Today:
      0.003p
  • 52 Week High: 0.28
  • 52 Week Low: 0.085
  • Currency: UK Pounds
  • Shares Issued: 1,596.42m
  • Volume: 31,967,251
  • Market Cap: £1.44m

Katoro agrees financing strategy for Blyvoor joint venture

By Josh White

Date: Tuesday 21 Jul 2020

LONDON (ShareCast) - (Sharecast News) - Gold and nickel exploration company Katoro Gold updated the market on the Blyvoor joint venture on Tuesday, in respect of the gold tailings project.
The AIM-traded firm said that following a "significant" increase in interest from possible funders and an "extensive" site visit by the joint venture's management and technical team, the partners had agreed a strategy and deadlines for securing project financing.

It said it would look to complete financing on or before 30 September, which would be sufficient to fund the construction and commissioning of a beneficiation plant and auxiliary operations.

With that revised time frame, Katoro said the joint venture partners believed there was sufficient time to entertain and properly consider preferred funding options and proposals from the potential funders, so as to secure the best possible financing option.

The impact of Covid-19 still remained what the board called a "harsh reality", however, and would continue to influence the pace and manner in which the company could meet agreed deadlines.

"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," said executive chairman Louis Coetzee.

"Whilst we have always been comfortable alongside our joint venture partners with regard to our ongoing partnership, we recognised that many investors wanted some clarity as to Katoro's exclusivity position after the expiry of the June 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 joint venture."

At 1628 BST, shares in Katoro Gold were down 7.37% at 1.76p.

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Katoro Gold Market Data

Currency UK Pounds
Share Price 0.090p
Change Today 0.003p
% Change 2.86 %
52 Week High 0.28
52 Week Low 0.085
Volume 31,967,251
Shares Issued 1,596.42m
Market Cap £1.44m

Katoro Gold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
17.24% below the market average17.24% below the market average17.24% below the market average17.24% below the market average17.24% below the market average
46.56% above the sector average46.56% above the sector average46.56% above the sector average46.56% above the sector average46.56% above the sector average
Value
17.24% below the market average17.24% below the market average17.24% below the market average17.24% below the market average17.24% below the market average
46.56% above the sector average46.56% above the sector average46.56% above the sector average46.56% above the sector average46.56% above the sector average
Income Not Available
Growth Not Available

Katoro Gold Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
14:23 80,360 @ 0.085p
13:25 254,036 @ 0.092p
12:37 5,000,000 @ 0.088p
10:00 52,631 @ 0.095p
10:00 52,631 @ 0.095p

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