Katoro makes ‘significant progress’ in Covid-19 characterised interim period
In a year where “significant progress” was made, in spite of a range of challenges to people and businesses, as a result of Covid-19, Aim-listed gold producer Katoro Gold recovered from is earnings loss for the six months to June 30, 2020, and ended with basic and diluted earnings a share standing at 0.17p.
This is an improvement on the loss of 0.28p in the prior comparable period in 2019.
However, chairperson Louis Coetzee says that, despite the challenges presented by the pandemic, Katoro has advanced the Haneti polymetallic project, in Tanzania, to a drill-ready status with several high-priority targets.
Haneti is a large-scale polymetallic project covering an area of about 5 000 km2, where the principle target zone is an 80-km-long ultramafic belt with grades from surface sampling of up to 13.6% nickel and 2.33g/t combined platinum-group metals (PGMs).
During the reporting period, Katoro also developed plans to implement a drill programme at Haneti, focused on nickel sulphide and PGM targets at Mihanza Hill and Mwaka Hill, the two priority targets.
In parallel to this activity, Katoro received approaches with a view to earn-in, joint venture (JV) or other similar structures in respect of the project, with a primary focus on the nickel sulphide potential. Discussions with Katoro’s JV partner, Power Metal Resources, continue.
Katoro also entered into a JV agreement for the near-term producing Blyvoor gold tailings project, in South Africa.
On a corporate level, the company disposed of Imweru for a total staged consideration of $1-million and a 1.5% net smelter royalty on all future gold production from Imweru.
Other financial results for the interim period include an operating loss of £364 743, while the total comprehensive loss was £356 954.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Showroom
Complete range of security sealing solutions including security seals bags and labels.
VISIT SHOWROOM
CSIR International Convention Centre (CSIR ICC) - the leading conference and events venue in Pretoria/Tshwane.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
