- Gold and nickel company Katoro Gold said the results of a comprehensive competent person's report at Blyvoor gold tailings project in South Africa confirmed that the project was 'very robust,' paving the way to finalize funding discussions.

The competent person's report indicated a total project resource size of 1,410,000 oz gold and demonstrated a project net present value of US$ 114 million, a 33% internal rate of return and a return on Investment of 64%,

The life of Mine of 25 years indicated a production capacity of 500,000 tons per month with an overall production of 675,842 ounces of gold over the life of the mine.

'The completion of the technical work and especially the independent SAMVAL valuation of the project once again confirms that the project is very robust in all aspects and puts the company in a very strong position to finalize funding discussions as set out above,' the company said.

'We are now in the process of determining to what extent the higher recovery rates may improve the already robust project economics and will be updating the market in this regard in due course,' it added.

At 9:38am: [LON:KAT] Katoro Gold Mining Plc share price was 0p at 2.6p

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