LONDON: Kazera Global plc report that the Board have now been informed that the banking due diligence on the investment package totaling €9,130,000 announced in previous RNS’s has now been successfully completed.
The Company is now awaiting final confirmation of the transfer of funds, at which point it will make a further announcement.
In anticipation of completion of the investment package, the Company has focused on making the site functionally ready for operational activity to resume. As part of this process, DJ Drilling, an independent contractor, have begun preparing road access in anticipation of the mine once again becoming fully operational.
Larry Johnson, Kazera Chief Executive Officer, commented: “In anticipation of completion of the investment package, we have been working tirelessly at the mine to make sure that it is functionally ready to restart operations as soon as funds are received. The due diligence process has been a necessary, but lengthy and very detailed process, and we are delighted that it has now been successfully concluded.
“We now look forward to completion of the deal and the receipt of funds, with which we can unlock the value we have from our world-class tantalite mine, as well as accelerating developments in our diamond and HMS operations.”