Kazera Global Secures US$750,000 Initial Payment from South Africa AT Investments in Strategic Mining Partnership

Strategic Partnership Marks Initial Commercial Milestone for Whale Head Minerals

Kazera Global plc announced the receipt of US$750,000 from South Africa AT Investments (Pty) Ltd, representing the first advance payment under a long-term Mining Cooperation and Production Sharing Agreement with its South African subsidiary Whale Head Minerals (Pty) Ltd. Initially announced on 9 July 2026, this agreement establishes a fully funded strategic partnership to develop Whale Head Minerals' Walviskop operations and the larger 2A Project, subject to the granting of the 2A Mining Right.

This initial payment underscores South Africa AT Investments’ commitment to the long-term development of Whale Head Minerals' Heavy Mineral Sands assets located in South Africa's Northern Cape province. It signifies a key commercial milestone, with both parties now initiating implementation activities, including the preparation of a comprehensive Mine Plan. The Mine Plan will define production targets and Heavy Mineral Concentrate grade objectives, outlining the roadmap for subsequent development phases. The milestone-based payment structure and planning approach highlight the partners’ dedication to a phased development strategy for these mineral assets.

Funding Structure and Capital Terms of the Mining Cooperation Agreement

According to the Mining Cooperation and Production Sharing Agreement, South Africa AT Investments will finance 100% of capital expenditures, mining and processing operational costs, infrastructure, equipment deployment, and working capital for the covered mining and processing operations. This fully funded arrangement is significant for Kazera Global, as it relieves the company from funding operational expansion while maintaining a substantial economic interest. Whale Head Minerals retains a 20% entitlement to Heavy Mineral Sands production and ownership of its mining rights and permits, safeguarding the company’s long-term asset interests.

The agreement also stipulates a further advance payment of US$1.75 million from South Africa AT Investments contingent upon the granting of the 2A Mining Right, subject to regulatory approval. This staged payment aligns funding with operational milestones and regulatory progress, offering Kazera Global visibility on future cash inflows and motivating both parties to advance permitting and development efforts. This capital-efficient model enables Kazera Global to benefit from production growth without committing its own capital to mining and processing operations.

Enhanced Financial Position Following Dual Cash Inflows

The US$750,000 payment from South Africa AT Investments, combined with a recent US$500,000 receipt under the Hebei Settlement Agreement, has materially strengthened Kazera Global's financial position. Richard Jennings, Interim Chief Executive Officer, stated that the company’s financial standing has improved significantly compared to previous management. The board has determined that no further drawdowns from the existing Richard Jennings loan facility are anticipated following these cash inflows, indicating sufficient liquidity for near-term needs.

These combined cash inflows totaling US$1.25 million have substantially enhanced the company’s financial flexibility, alleviating immediate pressure on loan facilities and enabling management to concentrate on operational development and mine planning. The absence of expected further drawdowns from the loan facility reflects increased management confidence in the company’s financial outlook. Investors will likely monitor updates on the company’s cash position and its capacity to self-fund activities ahead of the additional US$1.75 million payment upon 2A Mining Right approval.

Heavy Mineral Sands Assets and Walviskop Operations in Northern Cape, South Africa

Kazera Global operates Heavy Mineral Sands assets through Whale Head Minerals in South Africa's Northern Cape province. The existing Walviskop operations serve as the near-term production base under the agreement with South Africa AT Investments, while the larger 2A Project offers significant growth potential pending the grant of the 2A Mining Right. Heavy Mineral Sands mining is an established industry in South Africa, with applications in construction, chemical, and manufacturing sectors, and the Northern Cape is rich in mineral resources.

Kazera Global’s strategic focus on Heavy Mineral Sands production, alongside its Deep Blue Minerals diamond asset also located in the Northern Cape, reflects a diversified commodity approach in the region. The Walviskop operations provide an existing production platform, while the 2A Project represents a growth asset that could substantially increase production capacity upon full development and permitting. The forthcoming comprehensive Mine Plan will establish operational parameters and grade targets, serving as a technical blueprint for future development. This phased development strategy, beginning with Walviskop and advancing toward the 2A Project, exemplifies a pragmatic value-unlocking approach for the company’s South African mineral assets.

Mine Plan Preparation and Production Target Establishment Under the Agreement

Following the US$750,000 payment, the parties will commence implementation activities, including preparing a comprehensive Mine Plan. This plan will set production and Heavy Mineral Concentrate grade targets for the project. Developing this technical document is essential to translating the commercial agreement into operational execution, defining expected output levels and quality standards across the partnership’s operations.

Richard Jennings, Interim CEO, identified Mine Plan preparation as a key immediate focus for both Kazera Global and South Africa AT Investments, marking the next development phase after the initial payment. The Mine Plan will serve as a foundational reference for project execution, establishing benchmarks for future operational performance. Investors are likely to watch for updates on Mine Plan completion and the production and grade targets it sets, which will offer greater insight into the partnership’s economic prospects and production scale from the Walviskop and 2A assets.

Diversified Commodity Investment Strategy and Growth Outlook

Kazera Global operates as a diversified commodity investment company focused on value creation through production growth and disciplined portfolio management. Beyond Heavy Mineral Sands at Whale Head Minerals, the company holds the Deep Blue Minerals diamond asset in the Northern Cape. Its strategy includes expanding production at current assets and evaluating new opportunities to grow its pipeline, reflecting an active approach to portfolio development and shareholder value enhancement.

Positioned as a diversified commodity investor rather than a single-asset operator, Kazera Global benefits from multiple value creation avenues and reduced concentration risk. The combination of developing Heavy Mineral Sands via the South Africa AT Investments partnership alongside an existing diamond asset demonstrates a multi-commodity strategy in a mineral-rich region. The company continues to assess opportunities to expand its growth pipeline, indicating potential upcoming announcements on portfolio additions or strategic collaborations. This diversified approach offers shareholders exposure to multiple commodity markets and production profiles.

Hebei Settlement Agreement and Recent Cash Receipts

The announcement also references a recent US$500,000 receipt under the Hebei Settlement Agreement, presented alongside the US$750,000 payment from South Africa AT Investments as part of recent cash inflows. Although details on the Hebei Settlement Agreement’s terms are limited, the timing and amount suggest a significant corporate development. These two substantial cash receipts have materially strengthened Kazera Global’s balance sheet and working capital.

The combined US$1.25 million inflow has influenced the board’s decision to anticipate no further drawdowns under the Richard Jennings loan facility, reflecting heightened management confidence in the company’s financial path. Investors seeking full context on the company’s financial improvements should review announcements related to the Hebei Settlement Agreement. The timing of these payments signals a period of positive corporate progress and improved financial momentum.

Regulatory Outlook and 2A Mining Right Approval

A key factor for fully realizing the Mining Cooperation and Production Sharing Agreement is the granting of the 2A Mining Right, referenced multiple times as a conditional milestone. The additional US$1.75 million advance payment from South Africa AT Investments depends explicitly on this approval, making regulatory consent a critical hurdle for unlocking further funding and advancing the larger 2A Project. The company has not disclosed the expected timing for the 2A Mining Right application or approval process.

This regulatory dependency presents both opportunity and risk for shareholders. Successful granting of the 2A Mining Right would unlock significant funding and enable development of a major growth asset, enhancing long-term production and earnings potential. Conversely, delays or denial could limit growth prospects and reduce funding visibility. The announcement indicates active efforts to progress Mine Plan and development activities, suggesting momentum toward meeting conditions for approval. Investors should monitor South African mining regulatory developments and company updates on the 2A Mining Right status.

Management Insights and Shareholder Communication

Richard Jennings, Interim CEO, highlighted the importance of the initial US$750,000 payment as a key commercial milestone and emphasized the company’s improved financial flexibility. He noted that Kazera Global’s financial position has strengthened considerably relative to prior management, marking positive momentum under interim leadership. Jennings outlined the immediate priority of developing the comprehensive Mine Plan to establish production and grade targets and guide the next development phase.

The interim CEO also committed to updating shareholders as Mine Plan milestones are achieved, establishing a framework for regular communication on the strategic partnership’s progress. This milestone-driven communication approach offers investors transparency regarding execution and progress. The company’s contact information and website, www.kazeraglobal.com, are available for investors seeking further details on operations and developments.