Katoro Gold plc (Incorporated in England and Wales)
(Registration Number: 9306219)
Share code on AIM: KAT
ISIN: GB00BSNBL022
("Katoro" or "the Company")
Dated: 2 March 2018
Katoro Gold Plc ('Katoro' or the 'Company')
Statement re broker
Katoro Gold Plc (AIM:KAT), the Tanzania focused gold exploration and development company, notes the announcement made today by the Financial Conduct Authority ("FCA") regarding Beaufort Securities Limited ("BSL"), the Company's broker, and Beaufort Asset Clearing Services Limited ("BACSL") being placed into insolvency and that the FCA has imposed requirements on BSL and BACSL to cease all regulatory activity with immediate effect.
The Company is seeking to appoint a new broker as soon as possible and a further announcement will be made when this appointment is made.
**ENDS**
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014.
For further information please visit www.katorogold.com or contact:
Louis Coetzee |
+27 (0) 83 2606126 |
Katoro Gold plc |
Executive Chairman |
Richard Tulloch Ritchie Balmer Frederick Twist |
+44 (0) 20 7409 3494 |
Strand Hanson Limited |
Nominated Adviser |
Isabel de Salis Priit Piip |
+44 (0) 207 236 1177 |
St Brides Partners Ltd |
Investor and Media Relations Adviser |
Notes to editors:
In May 2017 Katoro was admitted to trading on AIM. Katoro owns 100% of the Imweru and Lubando Gold Projects in Tanzania, which both have Mineral Resources established in accordance with the JORC (2012) Code. The total Mineral Resources stated for Imweru consist of 11.607 Mt at grade of 1.38 g/t for a Mineral Resource of 515,110 oz Au at a resource pay limit of 0.4 g/t for the open pittable material and 1.3 g/t for the underground material, while the Lubando Mineral Resources equate to 6.78 Mt at grade of 1.10 g/t for 239,870 oz Au at a pay limit of 0.4 g/t to a depth of 200 m and 1.3 g/t below the 200 m depth cut-off. The respective projects also include the earlier stage Sheba (within the Imweru Licence Portfolio and Imweru Option Portfolio), Pamba and Busolwa (both within the Lubando Licence Portfolio and Lubando Option Portfolio) projects. The JORC Code compliant Competent Person's Report for each of Imweru and Lubando are available on Katoro's website www.katorogold.com.
The Company's primary focus is on advancing and developing Imweru through a work programme which will include, inter alia, a feasibility study and a drilling programme, with the aim, subject to funding, to commence production with an initial target of 50,000 oz gold per annum within 18-24 months from admission to AIM.
Updates on the Katoro's activities will be announced as required and posted on its website www.katorogold.com.
