Kazera Global (AIM:KZG) shares plunged 29.6% to 1.0p after the company put the spotlight on efforts to tackle operational challenges, detailed steps being taken to cut costs, and said fresh capital will be required.
In a statement, Kazera also said it was advancing talks with a preferred strategic partner.
The AIM‑quoted investment company said it is progressing the regulatory process for the 2A Mining Right at Alexander Bay and has entered an arrangement with a local stakeholder to support the final stages of the application.
Kazera noted that partner discussions are focused on optimising processing to increase throughput, deliver higher‑grade concentrate and reduce double handling and associated costs.
Deep Blue Minerals has paused inland diamond mining because of diesel shortages and high prices, and will concentrate on recovering diamonds from beach and marine gravels derived from HMS activity to reduce the cost base.
The company said it retains a strong legal position on the African Tantalum arbitration now under review by the Namibian Supreme Court and is in parallel discussing a potential commercial settlement with Hebei Xinjian while receiving third‑party interest.
The board said additional short‑term working capital will be required and is in talks with existing lenders and stakeholders, and all directors will defer fees until 31 August with Interim CEO Richard Jennings taking a salary of £5,000 per annum and a £20,000 charitable donation to follow when he steps down.
"My focus is singular, addressing the operational challenges at asset level and improving alignment between operational performance, the Company's perception of its underlying asset values and the current market perception," Richard Jennings, Interim CEO, said.
The company said it will update the market in the coming weeks on progress with the 2A Mining Right, strategic partner discussions and funding arrangements.
