Kazera Global PLC (AIM:KZG) flew more than 20% higher on Thursday after the AIM-quoted investment company announced that it has received certification from the National Nuclear Regulator (NNR) in South Africa.
This certification enables its Whale Head Minerals project to imminently commence the mining and production of Heavy Mineral Sands (HMS).
"This is an incredibly exciting time for the company,” said chief executive Dennis Edmonds.
“We have always known that we have a very pure deposit of HMS and, whilst the discovery of radioactive elements meant we had to delay the start of production, the presence of rutile, zircon, and monazite, which typically have a much higher commercial value than ilmenite, suggests the value of the deposit is even higher than we had originally thought.”
Kazera shares were last seen trading at 0.67p with a £6.27 million market capitalisation.