Kazera Global plc
Kazera Global plc (registered as Kennedy Ventures Plc in earlier years, company no. 05697574) is an AIM-listed investing company focused on the resources and energy sectors, primarily in Africa. Its principal operating interests are Whale Head Minerals (Pty) Ltd ("WHM", 70% owned), developing the Walviskop heavy mineral sands (HMS) project in South Africa, and Deep Blue Minerals (Pty) Ltd ("DBM", 100% legal / 74% ultimate beneficial interest), an alluvial diamond mining project also in South Africa. The Group is transitioning both projects from development/trial into commercial production and is separately pursuing recovery of an arbitration award relating to the historical disposal of African Tantalum (Pty) Ltd ("Aftan") in Namibia.
FY2025 in sixty seconds
year to 30 Jun 2025 · approved 11 Dec 2025 · 72 pages · Companies House
Kazera Global plc, an AIM-listed investing company developing a heavy mineral sands project and a diamond project in South Africa, recorded no revenue in the year to 30 June 2025 (previous year £6k). Its loss after tax widened to £4.0m from £2.8m.
The biggest single reason was a £2,467k provision, meaning money set aside in case a debt from the earlier sale of a Namibian business is not paid in full. A tribunal ruled in Kazera's favour in May 2025, awarding US$11.9 million plus interest and costs, but the other side has started legal proceedings to challenge the ruling.
Cash at the year end was £155k, against borrowings of £1.4m. It raised £186k from new shares and is paying no dividend. The report says more money was raised from shareholders after the year end. Management expects both projects to contribute more significantly to revenue in the coming year. The directors and the auditor both flag a material uncertainty over whether the group can keep trading, as this depends on mining income, recovery of the debt and possibly further funding.
Heavy mineral sands (HMS) sales from WHM once commercial production is achieved
First major offtake agreement signed December 2024 with an advance of US$600,000 against future sales; April 2025 initial supply arrangement for 10,000 tonnes with Fujax South Africa (Pty) Ltd, though funds received were treated as a loan, not revenue, pending reassessment
page 5Expected credit loss (ECL) provisions against the Aftan receivable and intragroup loans
ECL provision on financial assets of £2,467k in FY2025 (2024: £1,345k), the single largest driver of the operating loss
page 58Chairman: demand for heavy mineral sands is underpinned by long-term industrial growth and a tightening global supply picture; the Group has entered the new financial year with growing operational momentum, firmer commercial positioning and a clearer route to scale
page 4No dividend recommended for FY2025 (2024: nil) as the Company concentrates resources on bringing its diamond and HMS projects into production and enforcing its rights regarding the Aftan sale
page 811 years on one page · FY2015–FY2025
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GBP millions, negatives in brackets. Per-share lines in pence. Share counts in millions. Margins and returns as percentages, calculated from the filed figures. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated.
7 figures restated in a later report
Every figure is read again from the following year’s report: 273 confirmed, 2 differ, 7 restated.
No figure has been restated: every figure a later report printed again, it printed the same.
7 more figures were restated in FY2015 to FY2022, which a free account opens.