Katoro Gold PLC Imweru Project Update (0863P)
May 24 2018 - 1:00AM
UK Regulatory
TIDMKAT
RNS Number : 0863P
Katoro Gold PLC
24 May 2018
Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
Dated: 24 May 2018
Katoro Gold Plc ('Katoro' or the 'Company')
Project Update
Katoro Gold Plc (AIM: KAT), the Tanzania focused gold
exploration and development company, provides an update on its
Imweru Gold Project ('Imweru' or 'the Project') in Tanzania.
The Company is pleased to confirm that further to its
announcement of 20 March 2018, having completed its assessment of
the economic feasibility of Imweru, based on the preliminary
pre-feasibility results and the new mining legislation and
regulations in Tanzania, it is of the opinion that there is still
good upside exploration and development potential for the further
development of the Project. Furthermore, Tanzania's new Mining
Commission sat for the first-time last week and indicated that it
was open to engaging with companies to ensure the economic success
of projects within the frame work of the current mining
legislation. The Company therefore looks forward to continuing its
engagement with the Ministry of Minerals ("MoM") to determine the
next steps with regards to the development of Imweru.
Additionally, the Company has made excellent progress as it
seeks to diversify Katoro's portfolio. It has assessed several
projects and drawn up a short-list of projects that fit its
investment criteria.
Executive Chairman, Louis Coetzee commented: "We are delighted
that the exploration / development upside potential for Imweru
remains and hope that following further dialogue with the new
Tanzanian Ministry of Minerals, we can take the Project forward and
ultimately develop a gold mine. Our optimism is further bolstered
by the latest positive outcomes of discussions between the Tanzania
Chamber of Mines and the MoM in relation to various contentious
matters in the current mining legislation. In tandem with this, we
have established a short-list of exciting other potential
value-adding projects and look forward to updating shareholders on
progress in this regard in the future."
**ENDS**
This announcement contains inside information as stipulated
under the Market Abuse Regulations (EU) no. 596/2014.
For further information please visit www.katorogold.com or
contact:
Louis Coetzee louisc@katorogold.com Katoro Gold Executive Chairman
plc
Richard +44 (0) 20 Strand Hanson Nominated Adviser
Tulloch 7409 3494 Limited
Ritchie
Balmer
Frederick
Twist
Ben Tadd +44 (0) 203 SVS Securities Broker
Tom Curran 7000 093
Isabel de +44 (0) 207 St Brides Investor and
Salis 236 1177 Partners Ltd Media Relations
Priit Piip Adviser
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END
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