Heavy Minerals Sands Project Update

Kazera Global plc (AIM: KZG), the AIM-quoted investment company, is pleased to provide an update on operations at its Walviskop Heavy Minerals Sands ("HMS") project ('the Project') in Alexander Bay, South Africa.

OVERVIEW

• Manufacturing of the Trommel screening plant was completed in line with expectations.
• Initiated optimisations to improve its performance before transporting to site.
• Work now focused on the construction of the remainder of the wet concentration plant on site.
• Positioning the plant to start operating immediately on receival of National Nuclear Regulator permit anticipated Q1 2024.

Dennis Edmonds, CEO of Kazera Global commented: "This has been a busy period for the team, during which we have focused on optimising the various aspects of the plant to ensure we can commence production and deliver the best results possible as soon as we receive the National Nuclear Regulator permit anticipated Q1 2024. This strategically important HMS project is expected to produce circa 6Kt HMS per month at full production, which given the strong demand will at current prices achieve an estimated gross profit of +US$300k per month. I look forward to providing shareholders with further updates as the Project advances."

DETAILS

The Company remains focused on advancing production at its Walviskop HMS Project, in which it holds a 60% interest within its subsidiary, Whale Head Minerals (Pty) Ltd.

Further to the RNS dated 5 July 2023 and in line with expectations, the manufacture of a Trommel screening plant was completed at the end of September. Having undertaken extensive inspections to ensure its efficacy, the team identified two areas of improvement to enhance the plant's performance, which will be completed in the coming weeks ahead of final sign-off and transport to site. See images 1 & 2.

The Company is now focused on the preparation of the Walviskop site and the construction of the remainder of the wet concentration plant, which is underway. The plant is expected to be fully commissioned before Kazera receives its permit from the National Nuclear Regulator, enabling it to commence work as soon as the permit is issued; this is anticipated during Q1 2024.

Image one: Final inspections on the Trommel screening plant.

Image two: Trommel screening plant