AIM-quoted investment company, Kazera Global has provided an update on operations at its Whale Head Minerals (WHM) Heavy Mineral Sands Project in Alexander Bay, South Africa.
HMS Plant
The company confirms that all mechanical commissioning work has now been completed at the WHM heavy mineral sands plant. This includes building reinforced concrete slabs, reassembling machinery, and building and connecting conveyors, bins and pumps. Final electrical commissioning work is now underway and is expected to be completed within the next few weeks.
National Nuclear Regulator Permit
The Company has been advised that WHM’s submission for a nuclear permit has been reviewed by the National Nuclear Regulator (NNR) but that recent changes within the NNR now requires companies to provide additional information as to how they will meet financial obligations associated with any nuclear authorisation granted.
These financial obligations are not expected to be of a material nature for WHM, will be funded from cashflow, and underwritten by the Company. The Company has now provided the NNR with all required additional information and awaits a response. It is anticipated that the appropriate permit will be issued soon, which will allow heavy mineral sands production and sales to commence.
Dennis Edmonds, CEO of Kazera Global commented: “The recent changes to the National Nuclear Regulator Act are frustrating but, we believe, very much a box ticking exercise in Whale Head Mineral’s case in light of our strong forecasted cash flows. With the requested additional information now lodged, our team is now focussed on completing the electrical work and on final commissioning. At that point, and assuming there are no further delays in the granting of the nuclear permits, we look forward to commencing production and sales.”
