A suitable drilling contractor has been engaged at the Blyvoor gold joint venture (JV) and drilling is currently under way and on schedule at the project.
The drilling programme is a key activity in the resource upgrade programme that forms part of the technical work required for the completion of the definitive feasibility study.
Aim-listed Katoro has entered into a binding conditional agreement to form a 50/50 unincorporated JV with Blyvoor Gold Operations and its holding company, Target Mine Consulting.
The gold and nickel exploration and development company also continues to make good progress in regard to project level funding, and is currently engaged in very focused discussions and negotiations with a selected number of potential funders on the basis of formal expressions of interest and proposals received.