Over at Union Jack (UJO) Craig Howie and his spineless associates are still insisting on paying compensation to a previous management team even though they say they breached the Companies Act 2006 and they also breached GDPR Regs in a material way, both matters that constitute gross misconduct. All involved are spineless. Over at Kazera Global (KZG)…
Kazera Global (KZG) has announced that it has raised £0.50 million (approx. £0.48 million net) “to pursue opportunities which the board believes have the potential to create further value for shareholders”. What about this fundraising from a most recent closing 1.95p share price?
Even though already well ahead from a 0.87p offer price initial tip, we’ve been emphasising on Kazera Global (KZG) a further potential catalyst of it being granted the mining right to a substantially larger area in the Northern Cape of South Africa (Sea Concession 2A) and now it’s “2A Mining Right Granted” and the shares more than 23% further higher before “Fujax Settlement, Proposed Fundraising”. So what now?
As a reminder, the City’s second most hated man is paid just £25,000 a year to run Kazera Global (KZG) and he gives 80% of that to charities looking after abandoned cats. So Jennings is working for just £417 a month. And under his stewardship shares in Kazera have almost trebled in just five months and at 2.025p could still be cheap – the broker note below published after today’s news values the shares at 6p.
Kazera Global (KZG) has announced that a South Africa 2A heavy mineral sands project “draft Technical Report” indicates “a high-grade Inferred Mineral Resource with a significant proportion of economic heavy minerals that is in the top tier globally compared to other HMS projects”. That sounds very encouraging compared to a still just 1.5p share price, £16.5 million market cap.
Kazera Global (KZG) has announced a proposed shareholder return programme which “intends, subject to legal, tax, working capital and regulatory considerations, to return approximately 80% of the net cash proceeds received under the company’s US$10.5 million Aftan settlement”. More good news!
In April we noted Kazera Global (KZG) was having to address financial and operational challenges but that we were confident in interim CEO Richard Jennings’ value creation strategy. The shares had already risen to 1.15p from our 0.87p tip price but have now soared to 1.60p on the back of payment receipt news and a clear statement that there are no funding needs.
Kazera Global (KZG) has announced " a fully funded strategic partnership for the development of the company’s flagship Heavy Mineral Sands project”. With the shares up to 1.35p in response, how pleasing is the partnership agreement? Is this just bull from CEO Richard Jennings, the City's second most hated man.
Most recently on Kazera Global (KZG), last month we remained positive on CEO Richard Jennings’ emphasised value realisation strategy. Now a settlement agreement announcement and the shares currently up to 1.15p.
Kazera Global (KZG) has announced a “production sharing agreement” which makes it “believe Walviskop now has a strong platform from which to grow into a meaningful and profitable operation”. This sounds like potentially very material news from the valuation at a current 1.15p share price, £12.7 million market cap.
The second most hated man in the City after me, Richard “nobody likes me and I don’t care” Jennings has spaffed more than a million quid on Kazera Global (KZG) over the years and is its largest shareholder. I did not expect what he has announced today.
I bet that his ghastly and rather dim sister thinks this is a racist headline and another unwarranted attack on that upstanding journalist brown envelope man, rather than an idiom. But as the screenshot below shows it is harsh but fair.
Rugby. Oriel College Oxford. Founder of Pet City, Chairman of the England and Wales Cricket Board. Master of the Society of Merchant Venturers of Bristol/ Deputy Lieutenant of Somerset. CBE. Giles Clarke mixes with other fine chaps from the great and the good. He is not a dirty oik like you and me.
Those, like Andrew Monk, who follow Caracal Gold (GCAT) will be familiar with the way Gerard Kisbey-Green and Robbie McCrae work. As we saw with Amala Foods (DISH) the dynamic duo will happily borrow money from another PLC and then just not pay it back. How Mr. Monk and VSA Capital (VSA), where I am an unwitting shareholder, are prepared to act for such scallywags defies belief. Now I can expose that the two rogues have been at it again as Kisbey-Green has “resigned” from Kazera Global (KZG) as legals kick off.
Kazera Global (KZG) has announced that December/January production cycle diamond production has achieved a record of over 1,000 carats, the largest of which is a high value stone of 13ct, and that the Tantalite Valley mine in Namibia is expected to become operational shortly, after which the company will begin exporting commercial quantities of tantalum to its Chinese offtake partner.
