Haneti definition
Haneti or "Haneti Project") in Tanzania. Katoro will retain a 75% interest in ▇▇▇▇ ▇▇▇▇▇▇; - Going forward, ABM will be required to fund its 25% share of the Haneti Project's costs, or its interest will be diluted in accordance with standard industry fund or dilute provisions; · ABM retains the right, at its sole discretion, for 12 months, to acquire a further 10% interest in Kibo Nickel for a further payment to Katoro of £25,000 in cash; · Katoro and ABM will seek to, within one month, establish a written joint venture agreement and associated shareholder agreement in respect of Kibo Nickel, ▇▇▇▇▇ and ▇▇▇▇▇▇; · As announced on 15 March 2019, under the Agreement, ABM has already invested £25,000 to acquire 2,500,000 new Ordinary Shares, and was also granted 2,500,000 warrants to subscribe for 2,500,000 new Ordinary Shares at a price of 1.25 ▇▇▇▇▇ per share with a three-year life to expiry from 15 March 2019; · Katoro is required to allocate all monies received from ABM under the Agreement, other than in respect of monies received on the exercise of the warrants issued pursuant to the Agreement, to the maintenance, exploration and development of Haneti; and · Save for certain circumstances, the warrants issued pursuant to the Agreement may, until 1 July 2019, only be exercised by ABM if such exercise does not dilute Kibo Energy PLC ("Kibo"), Katoro's major shareholder, to less than 50.5% of the issued share capital of Katoro at that time.
Haneti or “Haneti Project”) in Tanzania. ▪ Going forward, ABM will be required to fund its 25% share of the Haneti Project’s costs, or its interest will be diluted in accordance with standard industry fund or dilute provisions; • ABM retains the right, in its sole discretion, for 12 months afer the Option exercise date, to acquire a further 10% interest in Kibo Nickel for a further payment to Katoro of £25,000 in cash; • Katoro and ABM will within one month establish a written Joint Venture Agreement and associated Shareholder Agreement in respect of Kibo Nickel, Eagle and ▇▇▇▇▇▇. • Katoro is an AIM listed exploration and development company with gold and nickel interests in Tanzania; • The Haneti project comprises tenements covering an area of circa 5,000 sq. km (prospecting licences, offers and applications) prospective for nickel, platinum-group-elements, cobalt, copper, gold and lithium; • Katoro also holds a 100% interest in the Imweru and Lubando gold projects in Tanzania which in total host a JORC compliant gold resource (inferred and indicated) of 754,980 ounces of gold; • As previously announced, the Company acquired 2,500,000 new ordinary shares in Katoro (the Tranche 1 Shares) at an issue price of 1.0p each for a consideration of £25,000 on 15 March 2019, and was also granted 2,500,000 warrants to subscribe for 2,500,000 new Ordinary Shares at a price of 1.25 ▇▇▇▇▇ per share with a three-year life to expiry from 15 March 2019; • Katoro is required to allocate all monies received from ABM under the Agreement, other than in respect of monies received on the exercise of the warrants issued pursuant to the Agreement, to the maintenance, exploration and development of Haneti; and • Save for certain circumstances, the warrants issued pursuant to the Agreement may, until 1 July 2019, only be exercised by ABM if such exercise does not dilute Kibo Energy PLC (“Kibo”), Katoro’s major shareholder, to less than 50.5% of the issued share capital of Katoro at that time.
Examples of Haneti in a sentence
We are very pleased that ABM have exercised the Option to become a partner in the Haneti Project.
I am pleased to announce the exercise of this Option to acquire an increased holding in Katoro Gold plc and a 25% interest in the Haneti Nickel Project.
Kibo also holds the Haneti Project on which the latest technical report confirms prospectivity for nickel, PGMs, gold and strategic metals including Lithium.