Katoro Gold has confirmed that its Blyvoor joint venture in South Africa has extended a period to consider financing options for Blyvoor project, a gold tailings project until the end of June. According to Katoro, the recent release of a scoping study for the project sparked ‘significant’ interest from possible funders. The company was already engaged with a number of potential funders before announcing the scoping study results but received significant interest afterwards.
The company said it was in the best interests of stakeholders to allow for sufficient time to consider potential offers. “The JV represents a unique and exciting investment opportunity for the company with the possibility of significant near-term revenue generation within a very aggressive timeline,” the company affirmed.
They further added that to have received 14 expressions of interest to date, despite the challenging business conditions that Covid-19 has caused, is further validation that the Blyvoor project is indeed robust and attractive to potential investors.
About Katoro Gold
Katoro Gold PLC is an AIM quoted Tanzania focused gold and mineral exploration and development company. It currently has three projects and aims to further diversify its portfolio through the acquisition of new projects; it’s strong management team with significant in-country and sector experience is key in this strategy.
Based on a deep understanding of and significant hands-on experience in the minerals and mining industry, with specific focus to Tanzania, the Company is geared to unlock project value-based cost effective operational implementation and ongoing management; long standing relationship with the value chain of service providers; and long-standing relationship with regulators and government. With this background, it aims to identify and acquire value accretive opportunities to build a Tanzania focused gold and mineral exploration and development company. It currently has three projects in development, and the board is evaluating a number of other projects in Tanzania and internationally.