https://www.miningweekly.com

Katoro pays initial R5m towards tailings collaboration

3rd February 2020

By: Marleny Arnoldi

Online News Editor

     

Font size: - +

Aim-listed Katoro Gold has transferred the initial tranche of R5-million, or £263 000, to Blyvoor Gold as part of plans to form a joint venture (JV) that will exploit six tailings deposits, in South Africa.

The initial tranche allows the partners to accelerate work on the confirmatory test to optimise the financial projections and conceptual designs for the processing plant as Katoro seeks to secure the requisite funding for the project.

Katoro earlier this month entered into a binding conditional agreement to work with Blyvoor and its holding company Target Mine Consulting on reprocessing an existing 1.34-million-ounce gold tailings resource.

The project already has a mining licence and environmental-impact assessment in place for the reprocessing of the tailings.

The companies plan to produce about 35 000 oz/y of gold over a 35-year mine life.  The all-in sustaining costs are anticipated to be about $664/oz for the first five years of production.

Meanwhile, Katoro has raised a £397 000 convertible loan note with a number of clients of SI Capital, the company’s broker, to support its commitments under the agreement. Katoro is due to provide R15-million, or £790 000, to the JV.

Katoro has also put in place a facility with Sanderson Capital Partners, in which it may subscribe for up to £400 000 in the form of a convertible loan.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

EKATO Africa
EKATO Africa

Established in 1933, EKATO is the world leader in agitation technology, supplying agitators for processes and applications such as chemicals and...

VISIT SHOWROOM 
Alco-Safe
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.061 0.899s - 128pq - 2rq
Subscribe Now