Highlights

  • The GBP 1.3m fundraise will support capacity increase and operational improvements at Kazera’s South African assets.
  • New and existing investors subscribed to 87,666,666 ordinary shares at 1.5p each, with attached warrants.
  • Proceeds will fund HMS throughput, diamond recovery enhancements, site efficiency upgrades, and organisational capacity expansion.

Kazera Global plc (LSE:KZG), focused on heavy mineral sands (HMS) and diamond production in South Africa, has completed a subscription raising GBP 1,315,000 gross (GBP 1,300,000 net). The Subscription involved 87,666,666 new ordinary shares issued at 1.5p per share, representing a 7.14% premium to the closing price on 7 November 2025.

Each Subscription Share carries a three-for-two warrant, exercisable at 2.5p per new share for 12 months. The Company may accelerate the warrant exercise period if the share price exceeds 2.5p for ten consecutive business days. Warrant shares will require shareholder approval before issuance.

Operational Developments and 2A Mining Right

Over the past year, Kazera’s South African investments have moved from development to active production. At Whale Head Minerals (WHM), early HMS production started in March 2025 under the Fujax offtake agreement. Additional spirals installed in July 2025 have improved concentrate quality and margins.

Deep Blue Minerals (DBM) began diamond recoveries in September 2025 after upgrades to its processing plant, including new pulsating jig and Flowsort technology. Early results indicate improving grades and carat recoveries.

The remaining objection to the 2A Mining Right has been formally withdrawn, clearing the way for granting. The 2A area covers approximately 3,095 hectares, of which around 170 hectares are immediately suitable for HMS mining.

Planned Use of Subscription Proceeds

The funds raised will be used to support operational and organisational improvements:

  • Scale HMS throughput: Targeted plant upgrades and additional spirals aim to increase output, purity, and margins.
  • Enhance diamond recovery: Additional recovery equipment is expected to increase throughput by up to 50% and capture larger stones.
  • Improve logistics and site efficiency: Investments in warehouse facilities, vehicles, road maintenance, and security will support higher production volumes.
  • Build organisational and strategic capacity: PLC and operational systems will be strengthened to sustain growth and prepare for the 2A Mining Right grant.

Procurement of key plant and equipment has commenced, with deployment expected immediately following Admission. Initial upgrades at WHM and DBM are scheduled for completion in early 2026.

Subscription and Related Party Participation

Tracarta Limited subscribed for 35,666,666 shares, while Catalyse Capital Ltd and related parties subscribed for 20,000,000 shares. As related parties, their participation constitutes a related party transaction under AIM Rule 13 and has been deemed fair and reasonable by the independent directors.

Admission of the 87,666,666 Subscription Shares to trading on AIM is expected on or around 17 November 2025. Following Admission, total issued ordinary share capital will be 1,080,952,136 shares, each carrying one vote.

Share Performance of KZG

KZG was trading 3.47% higher at 1.45GBX per share as of 10 November 2025.