Proactive Investors - Run By Investors For Investors

Kennedy Ventures to re-name and look for new projects after tantalum reboot

Kennedy has a 75% stake in African Tantalum (Aftan)
Tantalum is used in a variety of industries

Tantalum miner Kennedy Ventures PLC (LON:KENV) expects its shares will return from suspension today with a name change to Kazera Global PLC planned for March.

The shares were suspended in December as Kennedy’s auditors were unable to sign off the accounts in AIM's timeframe due to the complexity of consolidating its Namibian businesses and applying the IFRS standard.

WATCH: Kennedy Ventures looking to build upon production and assess new projects

Kennedy has a 75% stake in African Tantalum (Aftan), which operates the Namibian Tantalite Investment Mine (NTI).

Results for the year to June, published today, showed a loss of £1.1mln, though since then Kennedy has refinanced with a £3.75mln placing that was earmarked for drilling and an upgrade to the plant’s processing facilities.

A fourth shipment has now been made from the mine to its customer, said chief executive Larry Johnson, with purity of the shipment a high grade 51%.

Aftan has also now employed an exploration geologist, interim chief finance officer and senior metallurgist and is working with environmental groups on an upgrade to its tailings dam.

Kennedy said a charge of strategy is planned now that the initial ramp-up of its Namibian tantalum mine has been carried out, with the board to look for new projects in Africa.

READ: Kennedy Ventures says investee company's mine making “significant progress”

This will be in a range of commodities, said the statement.

Johnson added: "Aftan, with Kennedy's supervision, has taken significant positive strides during the period.

"The relationship with the leading global end user and subsequently signing a multiyear supply agreement is a major milestone and, this, accompanied by the successful upgrade of the plant, ensured that the Mine started to deliver some of the highest quality tantalum in the world.”



View full KENV profile View Profile

Kennedy Ventures Timeline

February 12 2018
February 09 2018
January 22 2018
October 13 2017

Related Articles

November 01 2017
Pan Asia Metals is building strength in depth in South East Asia
Pioneer Resources: Access latest PPT from Proactive's CEO Sessions
June 18 2017
David Crook talked cash from caesium with investors.
electric cars charging
January 30 2018
Feasibility study estimates Sonora is worth over one billion dollars on a NPV basis

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use