Kazera steaming ahead with Walviskop heavy mineral sands project

(Sharecast News) - Kazera Global updated the market on promising developments at its ongoing Walviskop heavy minerals sands (HMS) project in Alexander Bay, South Africa, on Friday. The AIM-traded firm said that in a significant stride towards operational readiness, manufacturing the Trommel screening plant - a pivotal component for processing heavy mineral sands - was complete, aligning with its projected timelines.

Kazera also said it had initiated performance optimisation processes for the Trommel screening plant, ensuring it would adhere to optimal operational parameters before its subsequent transportation to the project site.

Moreover, the company shifted its operational focus toward constructing the wet concentration plant on site.

That plant would be integral to efficiently processing extracted minerals from the HMS project, ensuring that the heavy minerals could be accurately separated and processed.

In anticipation of securing a permit from the National Nuclear Regulator, slated for the first quarter of 2024, Kazera said it positioned the plant to start operations immediately upon receiving the necessary regulatory approvals.

"This has been a busy period for the team, during which we have focused on optimising the various aspects of the plant to ensure we can commence production and deliver the best results possible as soon as we receive the National Nuclear Regulator permit anticipated in the first quarter of 2024," said chief executive officer Dennis Edmonds.

"This strategically important HMS project is expected to produce circa 6Kt HMS per month at full production, which, given the strong demand, will, at current prices, achieve an estimated gross profit of more than $0.3m per month.

"I look forward to providing shareholders with further updates as the project advances."

At 1315 BST, shares in Kazera Global were down 8% at 0.62p.

Reporting by Josh White for Sharecast.com.