https://www.miningweekly.com
Business|Copper|Environment|Exploration|Gold|Platinum|Power|PROJECT|Projects|Resources
Business|Copper|Environment|Exploration|Gold|Platinum|Power|PROJECT|Projects|Resources
business|copper|environment|exploration|gold|platinum|power|project|projects|resources

Katoro hopes to sell subsidiary soon, continues to explore Tanzanian deposit

14th February 2020

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Aim-listed gold and nickel project developer Katoro Gold has been pursuing various project opportunities to benefit the company and advance what it says is a transformational phase for the company.

Subject to funding being secured, the company’s tailings exploitation joint venture (JV) with South African gold producer Blyvoor offers significant revenues from future gold production.

The company also has the potential to monetise its interests in the Lake Victoria gold interests and upside from future exploration in respect of its Haneti polymetallic deposit, in Tanzania.

“These opportunities have been created and advanced during incredibly difficult market conditions and the board believes Katoro is well positioned for a recovering environment with business interests of substantial value and potential for shareholders,” says executive chairperson Louis Coetzee.

Katoro has a 75% interest in Haneti. The development of the project is being advanced with JV partner Power Metal Resources.

Power Metal has the right to increase its interest in Haneti to 35% through a cash payment of £25 000 by May 15.

The project has identified potential for nickel, copper, platinum-group metals, gold, lithium and rare earth elements.

The company will start a drill programme at Haneti soon, subject to funding being available.

Meanwhile, Katoro hopes to conclude a transaction soon whereby Lake Victoria Goldfields will buy the company’s subsidiary Reef Miners.

Reef Miners holds 100% of the Imweru and Lubando gold projects, in Tanzania.

Katoro will receive a cash payment of $1-million and a 1.5% net smelter royalty, should the transaction proceed.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

GreaseMax
GreaseMax

GreaseMax is a chemically operated automatic lubricator.

VISIT SHOWROOM 
Hanna Instruments Image
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.348 0.384s - 113pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: