logo-loader
FinanceInvestments and investor services
Katoro Gold

Katoro Gold focuses on potential at Haneti in Tanzania

Through exploration, Katoro is looking to confirm Haneti as a sizeable nickel sulphide project

Katoro Gold - Katoro Gold focuses on potential at Haneti in Tanzania
Battery metals are now Katoro's focus
  • Katoro owns Haneti nickel and PGM deposit in Tanzania

  • Recently sold its two gold licences in the country in return for a royalty and US$1mln cash

  • Company is 54.6% owned by Kibo Energy

 

What it owns

Haneti

Haneti comprises tenements (prospecting licences, offers and applications) that contain nickel, platinum-group-elements and gold.

It covers an area of approximately 5,000 sq. km in central Tanzania and forms a near contiguous project block.

Through exploration, Katoro (LON:KAT)  is looking to confirm Haneti as a sizeable nickel sulphide project but recently identified potential for lithium and other rare earth elements.

Applications have been lodged for five additional licences at Haneti to explore the lithium potential.

Louis Coetzee, executive chairman, said: “Notwithstanding the nickel sulphide focus, work completed to date has also identified the potential for lithium and rare earth element mineralisation and we have decided to investigate this potential immediately, and in parallel to our nickel drill programme.

 

Gold 

In August, Katoro disposed of its gold licences at Imweru and Lubando to LVG, a company that already has mining rights over a nearby block.

LVG, is paying US$1mln for Reef Miners, the owner of the Imweru and Lubando gold licences.

The consideration also includes a 1.5% Net Smelter Royalty and an alternative to take shares instead of cash.

Coetzee said he remained confident in the potential of the two licences, but the sale releases cash for Haneti.

Power Metal Resources PLC (LON:POW) owns a 5.9% stake in Katoro and has a 25% stake in Haneti with an option to take this up to 35% for a small cash payment.

 

Video

Inflection points

Completion of gold licences re-positioning

Katoro sees it as a way for them to get into production more quickly

Drilling starts at Haneti

Nickel price rising strongly due to predicted need when electric vehicles and storage take off

Quick facts: Katoro Gold

Price: £0.01

Market: AIM
Market Cap: £1.61 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

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...

In exchange for publishing services rendered by the Company on behalf of Katoro Gold named herein, including the promotion by the Company of Katoro Gold in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Katoro Gold to accelerate battery metals plan following gold...

Louis Coetzee says Katoro Gold PLC’s (LON:KAT) deal for its gold licences in Tanzania should be considered more a re-positioning than a disposal. It’s part of a re-focusing of the strategy towards battery metals, he adds. Katoro will retain a royalty on production from the Imweru and Lubando...

3 weeks, 6 days ago

2 min read