Katoro waiting for agreed payment from Lake Victoria Gold

3rd Jan 2024 07:38

(Sharecast News) - Minerals explorer and developer Katoro Gold reported on Wednesday that Lake Victoria Gold (LVG), under its joint venture agreement, had yet to provide any evidence of payment for the agreed capital contribution due on 31 December.

The AIM-traded firm said the development was related to the Imweru Gold Project, which it first disclosed on 7 March 2022.

In response, Katoro said it had initiated formal communication with LVG regarding the outstanding payment.

The company was awaiting a response from LVG, saying it would provide further updates to the market as the situation developed.

At 0911 GMT, shares in Katoro Gold were down 6.9% at 0.14p.

Reporting by Josh White for Sharecast.com.