StockMarketWire.com - Mining investor Kazera Global booked a narrower full-year loss thanks to lower exploration and administrative expenses.

Pre-tax losses for the year through June amounted to £1.34m, compared to losses of £2.54m on-year.

The company, which owns a stake in Namibia-focused miner African Tantalum, did not book any revenue for the year.

It said a first-phase drilling programme at the Tantalite project in Namibia was expected to be completed by the end of 2019, with a second-phase programme expected to be done by the end of the first half of 2020.

'The first phase of our exploration programme has proven to be a success and has given the company impetus to continue to realise this value through further drilling,' chief executive Larry Johnson said.

'At the same time, the group continues to look at future cashflow opportunities such as Kazera trading from which the company can leverage management expertise to deliver value.'

'We see the Tantalite Valley mine as being a highly material project and we will continue to focus on high-grading the mine licence while facilitating processes to create meaningful production from the mine in the future.'


At 9:35am: [LON:KZG] Kazera Global Plc Ord 1p share price was 0p at 0.43p



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