Kazera confident after 'frustrating' recent performance
By Josh White
Date: Tuesday 19 Apr 2022
(Sharecast News) - Kazera Global said on Tuesday that diamond sales of $236,547 were achieved for the December-January cycle from production at Alexander Bay in South Africa.
The AIM-traded firm said that, following a trial period of operating the Muisvlak plant in conjunction with MV5, it had now decided to hire a pan plant, which would give it "total independence" from the Muisvlak plant and a "much greater" level of control over the processing of its diamonds.
In Namibia, Kazera upgraded the tantalum processing plant to ensure that the plant could meet its export expectations.
As a result, Kazera said it expected successful production to be imminent.
Finally, in expectation of the grant of the Heavy Mineral Sands permit, the firm's subsidiary Whale Head Minerals had appointed Dr Gil Mahlati and Dr Dempsey Naidoo - two "highly respected" South African businessmen - to its board.
Looking at the December-January cycle, Kazera said a further 160 carats were still to be sold, while a 13 carat stone sold for $45,938.
"In South Africa, we are greatly encouraged by the words of the president Cyril Ramaphosa,, who is actively encouraging foreign investment into South Africa," said chief executive officer Dennis Edmonds.
"We are also hopeful that the new board of Alexkor will bring a fresh and entrepreneurial approach to the region.
"Within the scope of our own operations, the last couple of months have been frustrating for the company, however, we are very proud of becoming largely independent of the ability of outside forces to influence our diamond production."
Edmonds said it was also "very encouraging" to see the developments in Namibia, which would give the company a facility capable of meeting all of its requirements in the "very near" future.
"On behalf of the board, I am very excited to welcome Gil and Dempsey to the board of WHM.
"I have no doubt that their wisdom, experience and local knowledge will be huge factor in making WHM the success it deserves to be, both financially, but also in terms of the creation of jobs and opportunities in a community which is desperately short of both "
At 0815 BST, shares in Kazera Global were down 6.95% at 0.93p.
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