Aim-listed Kazera Global has appointed the company’s largest shareholder Richard Jennings executive director and interim CEO, with immediate effect. He is expected to remain interim CEO for six months.

Dennis Edmonds has stepped down from the board and resigned as CEO. The board wished him well in his future endeavours.

Further, Geoff Eyre has been appointed nonexecutive chairperson, while Dr John Wardle has stepped down as nonexecutive chairperson but remains on the board as a nonexecutive director.

Kazera intends to appoint Dr Johan Hattingh as executive director (technical director), subject to standard regulatory due diligence.

Paul Dulieu has been appointed independent nonexecutive director.

The company says the reconstituted board reflects a renewed focus on strengthening leadership, technical capability, governance and execution as it progresses a period of increased operational and corporate activity across its portfolio of investments.

The company is also in advanced discussions with a potential new operating partner to support the optimisation of production and improvement in product quality and volumes at its heavy mineral sands projects, in South Africa.

PROFILES
Jennings began his career in stockbroking in the early 1990s before becoming a fund manager for one of the UK’s largest public pension funds, the West Yorkshire Pension Fund, and subsequently working as an analyst in the city until 2001.

He then pursued property development ventures in both the US and South Africa, before founding and successfully exiting a number of private businesses, including Align Research, which specialised in the provision of financial research for small-cap stocks, with a particular focus on mining companies.

Jennings is currently CEO of Catalyse Capital, a specialist provider of finance to public companies.

Hattingh is a South Africa-based geologist with over 30 years’ experience in the mining and exploration sector, with particular expertise in heavy mineral sands, diamonds and alluvial systems.

He has worked closely with Kazera for several years and has an in-depth understanding of its projects, including responsibility for the preparation of the mineral resource estimate (MRE) relating to its current heavy mineral sands and diamond projects.

Hattingh has held senior roles at the Geological Survey of South Africa, the Council for Geoscience and Trans Hex Mining, and is the CEO of Creo Design, an exploration and resource development consultancy.

He has extensive experience in the development and establishment of mining operations, as well as in the preparation of competent persons reports and MREs for mining projects and listed companies on international exchanges.

Dulieu has more than 20 years of experience working with listed companies across the mining, energy, technology and industrial sectors, supporting boards, CEOs and senior management teams on operational delivery, corporate development and investor engagement.

He has worked closely with the company for over three years in a consultancy capacity, developing a detailed understanding of its projects and key stakeholders.

Dulieu previously served as communications and corporate development director at Feronia – a TSX-V-listed agricultural business operating in the Democratic Republic of Congo, where he played a central role in refinancing, operational turnaround planning and stakeholder engagement across a multi-site operation employing about 4 000 people.

He is the founder of Redbine, a corporate advisory and communications firm, and is also a consultant to St Brides Partners.

“Having closely followed and supported the company over a number of years, and with deep knowledge of the projects, including from catalysing the original deal vend into Kazera in 2020, and, of course, as Kazera’s largest shareholder, I am pleased to be joining the board at this stage and to be working more directly with the bolstered team as it moves into its next phase.

“My immediate focus will be bringing to a conclusion the long awaited award of the pivotal 2A licence and also monetising our Aftan project in Namibia,” says Jennings.

“My motivation is very simple: the long awaited maximisation of value realisation from our assets in both South Africa and Namibia,” he adds.

“The changes we are announcing today mark an important step in repositioning the company to accelerate the pace with which the company’s strategic priorities are achieved.

“The board has been restructured to bring a complementary range of skills across capital markets, technical expertise and operational delivery, strengthening both leadership and governance as the company progresses its strategic priorities,” says Eyre.

“Richard has been a long-term and supportive shareholder of the company and his appointment as interim CEO further aligns shareholder interests with the future direction of the business. Richard joining the board alongside John Wardle, the company’s second largest shareholder, underlines the belief of the company’s largest shareholders in the fundamentals of the business and its potential to deliver significant shareholder value,” he adds.

“Johan’s appointment as technical director strengthens the board’s technical capability and brings deep expertise and knowledge of the company’s asset base, particularly in relation to the development and establishment of mining operations.

“Paul has worked closely with the company for a number of years and brings a detailed understanding of our projects and the practical challenges associated with delivering them, which will be important as we move forward,” Eyre outlines.

“Drawing on my own restructuring and operational turnaround experience, most recently with Hummingbird Resources’ assets, I believe that, following this reset, the board is now appropriately structured and resourced to deliver meaningful value by delivering on the following: ensuring that our South African projects rapidly move towards sustainable, cash generative production; addressing the Aftan situation; and progressing the expected granting of the 2A mining right.

“Additionally, alongside these changes, we are evaluating potential operational partner options to support the optimisation of production and improvements in product quality and volumes at our heavy mineral sands projects,” he avers.