Kavango Resources plc’s £6 million fundraise will be via direct subscription by current shareholder Purebond Ltd, potentially increasing its holding to more than 50%. TERMS The subscription in two stages will be for the conditional issue of 140 million new ordinary shares of £0.001 each at 1p per share, and 460m new ordinary shares for […]
Tag: Kavango Resources plc
Kavango in talks for £6m investment
Kavango Resources plc is in talks for a £6 million investment in the company and a potential new project for gold exploration in Zimbabwe. INVESTOR The investment by a single investor would be via a non-brokered direct subscription for a proposed price of 1p per share. The transaction is subject to regulatory and shareholder approvals. […]
Kavango raises £3.5m via placing and subscriptions
Kavango Resources plc has raised £3.5 million from issuing a total 194.4 million new ordinary shares in two phases including to new strategic investor Arigo Capital Ltd (Rwanda). FIRST FUNDRAISE On 24 October, the company raised £3m by issuing 166,666,660 new ordinary shares each at 1.8 pence. The shares were conditionally placed with institutional and […]
Kavango plans up to six holes for KCB inaugural drill
Kavango Resources plc plans to drill up to six holes for 1,250m in the first of four copper-silver prospecting licences in the Kalahari copper belt (KCB), Botswana. PHASE I The first phase of inaugural drilling on PL082/2018 will see sub-contractor Mindea Exploration and Drilling Services Pty use a multi-purpose rig, capable of diamond core and […]
Kavango marks priority target areas in KCB copper-silver licences
Kavango Resources plc said it had delineated 13 priority target areas in four of its 12 copper-silver prospecting licences (PLs) in the Kalahari copper belt (KCB), Botswana. PROGRAMME The company’s field exploration has for the past 12 months focused on PLs 082/2018, 036/2020, 049/2020 and 052/2020. Kavango added it had finalised a flexible strategy, to […]
Kavango completes 90% stake in LVR JV licences
Kavango Resources plc has completed its 90% stake in the LVR GeoExplorers (Pty) Ltd joint venture with copper-silver licences in the Kalahari copper belt, Botswana. PROJECT The company signed a memorandum of understanding in November 2021 and has now acquired the outstanding 65% to take the majority share in the JV. The partners’ project incorporates prospecting […]