Katoro Gold (KAT)

Sector:

Mining

Index:

FTSE AIM All-Share

0.085p
   
  • Change Today:
      0.005p
  • 52 Week High: 0.28
  • 52 Week Low: 0.082
  • Currency: UK Pounds
  • Shares Issued: 1,596.42m
  • Volume: 4,052,357
  • Market Cap: £1.36m

Deal with Barclays    Trade now with Barclays Stockbrokers

Katoro Gold shares tank on funding fears

By Benjamin Chiou

Date: Friday 22 Sep 2023

LONDON (ShareCast) - (Sharecast News) - Katoro Gold lost almost a fifth of its market value on Friday after the Sub-Saharan Africa-focused miner warned that it could run out of money by the end of the month.
In its interim results, Katoro, which currently generates no revenue as it continues to develop projects and pursue new opportunities, had a net liability position of £303k and cash reserves of just £25k as of 30 June.

"The company's existing cash resources are expected to run out by approximately the end of September 2023 and therefore the company is reliant on completing a fundraise by that date to fund its ongoing working capital," the statement said.

However, the Katoro couldn't assure that fundraising via equity contributions from new and existing shareholders (as it has done in the past) would continue to be an option.

Katoro's directors are now reviewing options to secure more funds, and have agreed to defer their salaries in the short term.

"There is a material uncertainty related to the events or conditions described [...] that may cast significant doubt on the entity's ability to continue as a going concern, and, therefore, that it may be unable to realise its assets and discharge its liabilities in the normal course of business."

The company registered a pre-tax loss of £311k in the first half, compared with a £540k loss the previous year.

By the close, the stock had falling 18% to 0.07p, giving the company a market capitalisation of just £0.44m.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Katoro Gold Market Data

Currency UK Pounds
Share Price 0.085p
Change Today 0.005p
% Change -5.56 %
52 Week High 0.28
52 Week Low 0.082
Volume 4,052,357
Shares Issued 1,596.42m
Market Cap £1.36m

Katoro Gold Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
18.5% below the market average18.5% below the market average18.5% below the market average18.5% below the market average18.5% below the market average
43.28% above the sector average43.28% above the sector average43.28% above the sector average43.28% above the sector average43.28% above the sector average
Value
18.5% below the market average18.5% below the market average18.5% below the market average18.5% below the market average18.5% below the market average
43.28% above the sector average43.28% above the sector average43.28% above the sector average43.28% above the sector average43.28% above the sector average
Income Not Available
Growth Not Available

Katoro Gold Dividends

No dividends found

Trades for 03-May-2024

Time Volume / Share Price
13:01 1,039,640 @ 0.088p
09:30 3,000,000 @ 0.082p
08:00 12,717 @ 0.082p

Top of Page