Investment company Kazera Global PLC (LON:KZG) remains excited by the progress of African Tantalum, in which it has a stake.
The company issued its full-year results for the year to the end of June and as it is in the pre-revenue stage, the focus was naturally on operational progress made by African Tantalum (Aftan), the owner of the Namibia Tantalite Investment Mine.
Kazera said there were significant plant upgrades achieved during the reporting period while another highlight was the signing of a supply agreement with a North American tantalum consumer.
Kazera continues to engage with African Tantalum’s customer base and other potential end users on the supply of tantalum.
"This year, we have seen significant changes which have reshaped and refocussed the company's strategic and operational focus,” said Larry Johnson, the chief executive officer of Kazera.
“Aftan's focus is on extracting maximum value from the targeted exploration programme which has already yielded exciting results. Aftan, with our help, continue to press forward with the programme and I would like to thank all our shareholders for their continued support and we look forward to updating shareholders on the full value of this highly important mine," Johnson added.
The company made a loss for the year of £2.54mln, compared to a loss the year before of £1.10mln.
Cash and cash equivalents at the end of June stood at £1.13mln, up from £364,000 a year earlier.