Kavango Resources plc issued 1.48 billion shares following publication of its prospectus approved by the Financial Conduct Authority. LISTING The shares issue relates to a £10 million fundraise in 2024 involving 938,028,569 and 547,995,076 new ordinary shares, comprised of a conditional placing and convertible loan notes, respectively. Following admission, Kavango’s total issued share capital will […]
Tag: Zimbabwe
Kavango plans Zimbabwe listing
Kavango Resources plc plans a secondary listing on the Victoria Falls Stock Exchange (VFEX) in Zimbabwe. IMMENSE The company said that the proposed listing would provide access to a wider range of capital and shareholders and promote strong local ownership in its projects. Kavango set up its Zimbabwe gold-focused subsidiary in July 2023. Chief executive […]
Kavango extends Hillside option to review tax changes
Kavango Resources plc has agreed a 90-day extension to the Hillside gold option in Zimbabwe in order to review changes to tax laws. UNCERTAINTY The company said that, based on technical data gathered from exploration including initial core review, it had intended to exercise the option today. The extension follows uncertainty over the impact of […]
Red Rock raises £500,000 via placing
Red Rock Resources plc has raised £500,000 by placing 666,666,667 new ordinary shares each at 0.075 pence. DRC ARBITRATION Proceeds will be used for the company’s lithium production and export operations in Zimbabwe, gold studies and development in Burkina Faso, accounting and audit costs, and working capital. Following the issue of the placing shares, Red […]
Red Rock receives £110,000 from high net worth investor
Red Rock Resources plc received £110,000 via a subscription of 100,000,000 ordinary shares at £0.0011 per share by a high net worth investor. COSTS The company said that the investor had provided personnel to help bring its lithium assets in Zimbabwe and gold assets in Burkina Faso into production and establish an export pipeline for […]
Red Rock to export 200 tons lithium ore from Zimbabwe
Red Rock Resources plc said it had prepared 200 tons of lithium ore for export from its operations in Zimbabwe. BUSINESS GROWTH The first truck has left Harare for the port of Beira in Mozambique destined for a buyer and destination unnamed by the company. “We are now beginning to export lithium ore from Zimbabwe and […]