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Cove Kaz Capital Group (Nasdaq: KAZR, via Skyline) announced the engagement of leading global engineering firms to conduct a Definitive Feasibility Study (DFS) for the Northern Katpar tungsten project in Kazakhstan, held by Severniy Katpar LLP, in which the company owns a 70% controlling interest. The DFS, which commenced in July 2026 and is anticipated to be completed before the end of 2027, is intended to support a Final Investment Decision and the due diligence requirements of prospective financing partners, including DFC and EXIM.
DRA Global will lead the DFS and mineral processing, ERM will manage geology, mine planning, and environmental and social frameworks, and Knight Piésold will lead geotechnical, hydrology, and tailings storage, all subject to definitive agreements. The DFS will define the mine plan and refinery designed to produce ammonium paratungstate. Severniy Katpar LLP’s tungsten resources total 1.4 million tonnes of WO3 and support anticipated production of 12,000 mtpa across Northern Katpar and Upper Kairakty, about 15% of current global tungsten mine output.
Cove Kaz Capital Group (KAZR) will begin site preparation in July at the Northern Katpar and Upper Kairakty tungsten deposits in Kazakhstan to support a Definitive Feasibility Study. Activities include land surveys, access roads, drill pad preparation, and a site office, ahead of core drilling in August.
Severniy Katpar LLP reports JORC-compliant resources containing 1.4 million tonnes of WO3, supporting anticipated combined production of 12,000 mtpa, about 15% of current global tungsten mine output. Cove Kaz also named Adil Amerkhanov CFO of Kazakhstan operations.
Skyline Builders Group Holding (Nasdaq: SKBL, future: KAZR) will change its Nasdaq ticker to KAZR effective June 17, 2026, ahead of its pending business combination with Cove Kaz Capital Group, a U.S.-backed critical minerals developer in Kazakhstan.
The combined company is expected to operate as Kaz Resources and continue trading on Nasdaq as KAZR, with no shareholder action required for the ticker change. The merger is targeted to close before the end of 2026, subject to regulatory approvals and customary conditions.