Kazera Global takes full ownership of Aftan

Investment company Kazera Global has increased its interest in African Tantalum (Aftan) to 100%, it announced on Friday, having acquired a further 25% interest.

  • Kazera Global
  • 26 June 2020 12:45:19

Source: Sharecast

The AIM-traded firm said African Tantalum owns the Tantalite Valley Mine and the Tameka Shelf Company.

Additionally, it announced the appointment of Odilon Ilunga as an executive technical director to its board.

Kazera said it was acquiring the remaining 25% interest in Aftan from Warmbad Investment Holdings, with the acquisition cost of £26,008 being funded via the low-cost issue of 4,523,114 ordinary shares to the vendor, at a price of 0.575p each.

The board said the acquisition was completed for the same number of shares relative to the 75% interest it had previously acquired, despite “significant” resource upgrades and progress being made to the mine during the period, and the share price being “considerably lower” than at the time of the original acquisition.

It said the move completed Kazera’s long-term planned strategy of acquiring total control over the Tantalite Valley Mine ahead of a “significant period” there, where the Orange River Pipeline building project was maturing.

Kazera noted that Aftan had de-risked JORC-compliant mineral resource estimates of 622,200 tonnes of lithium and tantalite resources in its first exploration phase at the mine since its first investment, with the second phase ongoing.

The board also said it was adding additional expertise with the appointment of Illunga, who it described as a metallurgist with “significant” experience.

“We are delighted to further increase our exposure to the high-value Tantalite Valley Mine at such favourable terms,” said chief executive officer Larry Johnson.

“Being now based at the mine, I continue to see the value being unearthed as part of our exploration programmes and look forward to moving the mine onto its next phase of growth.

“As we finalise the program and mature our Orange River Pipeline construction planning we look forward to updating shareholders on further progress.”

At 1218 BST, shares in Kazera Global were up 7.83% at 0.62p.

N/A

Isin: N/A
Exchange: N/A
Sell:
N/A
Buy:
N/A
Change:
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2025 Refinitiv, an LSEG business. All rights reserved.