Kazera Global PLC (AIM:KZG) approached three-year highs on the AIM junior market on Friday, with shares rallying 26% after trading commenced.
It came after Kazera announced a heavy minerals sands offtake agreement with Fujax South Africa.
The agreement involves the sale of 100,000 tonnes of heavy minerals sands, with production expected to commence by March 2025.
Kazera also declared its financial results for the year ending June 30.
Key operational milestones included increased stakes in its WHM and Deep Blue Minerals projects and completion of necessary permits for production at WHM.
The group reported a loss of £2.92 million, although management expressed optimism about near-term revenue generation.
"This an extremely exciting time for the Group with every one of our initiatives seeming to reach inflection points at or around the same time. Together, we are building a resilient and forward-looking company which is well-positioned for sustained success," said non-executive chairman John Wardle.
Shares were last seen swapping for 1.42p each.