Katoro Gold plc (AIM:KAT), the gold and nickel exploration and development company , announces the completion of the disposal of the Imweru gold project (‘Imweru’ or ‘the Project’) to Lake Victoria Gold Limited (‘LVG’).
Louis Coetzee, Executive Chairman joined us in the studio to give an update on the latest company news and what Katoro has planned for the future in this 20-minute in-depth interview.
Louis Coetzee, Executive Chairman of Katoro Gold, said: “ The completion of this disposal enables the management team at Katoro to focus financial and managerial resources on the highly significant Blyvoor gold tailings production project. The focus on Blyvoor is important, particularly recognising the progress being made and the extensive interest from project level financing partners.
“The disposal also adds to the Company’s working capital, including up to US$1 million in cash payments and a 1.5% net smelter royalty, which is a valuable asset recognising the near-term operational plans and anticipated scale of production.
“I wish the team at LVG well as it develops the business and executes a smooth and accelerated pathway into gold production.”
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