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Kazera Global PLC (LSE:KZG), a mining-focused investment company, has entered into a debt facility agreement with its two largest shareholders, Richard Jennings and Tracarta Ltd. Under this agreement, Jennings and Tracarta Ltd will each provide unsecured term loans amounting to £150,000 and £350,000, respectively. The funds from these loans will be allocated towards the cash component required for the acquisition of shares in Tectonic Gold PLC, as announced on Wednesday.
Details of the Acquisition
Kazera Global PLC's latest deal involves acquiring a 10% stake in Tectonic Gold PLC’s shareholdings in both Deep Blue Minerals (Pty) Ltd and Whale Head Minerals (Pty) Ltd. The agreement also includes acquiring Tectonic Gold's economic interest in loans associated with WHM’s Black Economic Empowerment partners. CEO Dennis Edmonds has indicated that these loans are expected to provide sufficient financial coverage to transition the company towards becoming cash generative.
Kazera Global PLC operates as a mining investment company with a focus on exploring and developing assets related to lithium, diamonds, and heavy mineral sands. The company holds a 60% interest in the Diamond project located in Alexander Bay, South Africa, as well as the Walviskop Heavy Mineral Sands project in South Africa. Additionally, it has interests in the Tantalum and Lithium project situated in southeastern Namibia. Kazera Global PLC was formerly known as Kennedy Ventures plc and rebranded in March 2018. The company was incorporated in 2006 and is headquartered in Caerphilly, United Kingdom.
