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Highlights:
- Kazera Global signs a landmark offtake agreement for 100,000 tonnes of heavy minerals sands.
- Key operational milestones achieved, including increased stakes in WHM and Deep Blue Minerals.
- Production at WHM on track, with revenues expected to begin in the near term.
Kazera Global PLC (LSE:KZG) experienced a significant boost in its share price on Friday, climbing 26% to reach a three-year high. The surge followed the announcement of a major offtake agreement and positive updates on its operations and financial performance.
Offtake Agreement with Fujax South Africa
The headline announcement was the signing of an offtake agreement with Fujax South Africa for the sale of 100,000 tonnes of heavy minerals sands. This deal is a cornerstone in Kazera's operational strategy, with production expected to commence by March 2025. The agreement underscores the company's ability to secure key partnerships in its sector and paves the way for substantial revenue generation.
Operational Milestones Achieved
Kazera also highlighted significant progress in its core projects:
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Increased Stakes in Key Assets:
The company raised its ownership in the WHM and Deep Blue Minerals projects, reinforcing its foothold in strategically important resources. -
Permits Completed for WHM Production:
All necessary regulatory approvals for production at WHM have been finalized, marking a crucial step toward achieving operational readiness. -
Broadening Resource Portfolio:
Alongside its focus on heavy minerals sands, Kazera continues to advance its diversified resource strategy, leveraging its portfolio to deliver long-term growth.
Financial Performance
For the year ending June 30, Kazera reported a loss of £2.92 million. Despite the setback, management remains optimistic about the company's trajectory. Non-executive chairman John Wardle remarked, “This is an extremely exciting time for the Group with every one of our initiatives seeming to reach inflection points at or around the same time. Together, we are building a resilient and forward-looking company which is well-positioned for sustained success.”
Future Outlook
Kazera’s immediate focus will be on ramping up production at WHM, meeting its commitments under the Fujax agreement, and further optimizing its asset base. The company’s proactive approach in securing permits and strengthening partnerships signals strong momentum heading into 2025.
Shares in Kazera were last traded at 1.42p, reflecting renewed investor confidence and anticipation of near-term operational and financial milestones.
