Kavango Resources plc has secured strategic financing of £10,277,868 comprising a placing and convertible loan notes. LISTING The placing of 938,028,569 new ordinary shares of £0.001 each at 0.7 pence per share will raise £6,566,200, subject to a Financial Conduct Authority approved prospectus and shareholders. The company’s deputy chairman Peter Wynter Bee has additionally agreed […]
Tag: Kavango Resources plc
Kavango identifies tungsten in Hillside assays
Kavango Resources plc has identified “significant” and “potentially economic” multi-element concentrations including tungsten at the Hillside gold project in Matabeleland, southern Zimbabwe. PATHFINDER The company plans to widen its exploration in the country for the “strategic elements” including bismuth, selenium, molybdenum and further tests for tungsten value and widths. The results, with a peak tungsten […]
Kavango targets MRE for Hillside open pit mine
Kavango Resources plc has started drilling to delineate a mineral resource for the basis of an open pit mine at Prospect 3 within the Hillside gold project in Matabeleland, southern Zimbabwe. DEPOSITS The programme will also obtain samples for metallurgical test work. Prospect 3 is the second of two priority targets at Hillside, with Prospect […]
Kavango to build production plant at Hillside
Kavango Resources plc plans to build a gold production plant to boost production at Prospect 4 within the Hillside project in Matabeleland, southern Zimbabwe. ASSESSMENT Four contract miners currently send “high grade gold mineralisation”, mined on a small scale, 20km to the company’s processing facility at the main site. Kavango said that volumes were at […]
Kavango drills for large scale potential at Nara
Kavango Resources plc has begun a new phase of drilling to explore the potential for a “large-scale underground gold mine” at its Nara project in Matabeleland, southern Zimbabwe. STRUCTURE Equity Drilling Zimbabwe will drill an initial three holes for 1,500m to test for laterally extensive gold mineralisation across “multiple” mineralised shears, or reefs. Nara contains […]
Kavango deputy chairman advances £200,000
Kavango Resources plc received a £200,000 advance from its deputy chairman in a convertible loan note. LISTING Peter Wynter Bee’s subscription on 24 September follows the £2 million investment from major shareholder Purebond Ltd, and is on the same terms. Kavango added that the Financial Conduct Authority was reviewing its completed draft prospectus. The final […]