Interim results later this month from Kazera Global (KZG:AIM) will be the first time investors get a chance to see the revenue from selling tantalum to a mystery North American customer. However, the results are unlikely to give a steer on selling prices and tonnage shipped.

The £11.6m company has been secretive since signing an offtake deal last July, merely announcing shipments without giving any financial information.

The tantalum industry is opaque with prices kept a secret. Kazera won’t disclose key details like prices and volumes as its customer wouldn’t want rivals knowing what it pays for tantalum.

Kazera has so far made four shipments from its mine in Namibia, three of which fall into the six month financial period about to be reported.

There have been delays to publishing a JORC resource statement on Kazera’s project which would give an estimate using Western mining standards as to how much tantalum is in a specific part of its licence area. There is no guidance as to when the JORC will come out.

The lack of such vital information has made it impossible to value the business properly.

Kennedy, which recently changed its name from Kennedy Ventures, also has lithium in its licence area. Chief executive Larry Johnson says while lithium is important to the company, the focus for now is tantalum, ramping up production and having a better understanding of the ore body. (DC)

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