Katoro Gold PLC Blyvoor Gold Tailings Project: General Update (2298R)
March 04 2021 - 08:24AM
UK Regulatory
TIDMKAT
RNS Number : 2298R
Katoro Gold PLC
04 March 2021
Katoro Gold plc (Incorporated in England and Wales )
( Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
04 March 2021
Katoro Gold plc ('Katoro' or the 'Company')
BLYVOOR GOLD TAILINGS PROJECT: GENERAL UPDATE
Katoro Gold plc (AIM: KAT), the AIM listed gold and nickel
exploration and development company, is pleased to provide a
general update on the Blyvoor Gold Tailings Project ("the Project")
following the Company's RNS' dated 15 December 2020 and 22 December
2020, respectively.
Highlights
-- Confirmatory metallurgical test work completed;
-- Integration of metallurgical test results into final CPR and
related reports completed, pending final outcome of metallurgical
optimization;
-- Metallurgical (processing and recovery) optimization process underway; and
-- Final phase of funding discussions in advanced stage
Following significant delays to complete the confirmatory
metallurgical test work on account of COVID-19 disruptions, the
final metallurgical test results have now been received and duly
processed. The metallurgical test results, as expected, confirmed
the findings of the CPR but also identified optimization
opportunities related to metallurgical processing that could
improve gold recoveries. In previous announcements it was stated
that when subjected to a sensitivity analysis, the Project is most
sensitive for grade. It therefore follows that all efforts should
be made to mitigate this sensitivity by thoroughly investigating
all possibilities that may improve and ensure optimal recovery
rates. Based on the optimization opportunities referred to above,
the Company is now presented with an ideal opportunity to initiate
such an optimization study in an effort to reduce the Project's
sensitivity in this regard. The optimization study will determine
whether processing and recovery can be further improved and to what
extent. Any improvement on either or both these elements that could
be implemented within acceptable cost parameters, will
significantly improve the already robust economics of the
Project.
Funding negotiations continued and progressed well in the
interim and can now move towards finalization and conclusion, after
receipt of the metallurgical test results confirming the positive
findings of the CPR.
Louis Coetzee, Executive Chairman of Katoro, said: "W e are
extremely pleased with the findings of the CPR thus far. The
outcomes from the report confirm that the Project is technically
and financially very robust. The Company is in the meantime
focussing all its efforts on concluding funding arrangements for
the Project as soon as possible, based on a very attractive
investment case."
**ENDS**
For further information please visit www.katorogold.com or
contact:
Louis Coetzee louisc@katorogold.com Katoro Gold plc Executive Chairman
Bhavesh Patel +44 20 3440 6800 RFC Ambrian Limited Nominated Adviser
Andrew Thomson
Nick Emmerson +44 (0) 1483 413 SI Capital Ltd Broker
Sam Lomanto 500
Isabel de Salis +44 (0) 20 7236 St Brides Partners Investor and Media
Beth Melluish 1177 Ltd Relations Adviser
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END
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