Kavango Resources Share Discussion Threads

[paulhopeful] 03/5/2024 09:42

JP2011: I was always told it’s best to look for commodities in and around where they’ve already been found, This approach is currently proving to be successful at Hillside, Two holes so far, two strikes on gold. Management will want a fair deal with plenty of skin in this, And it makes a very pleasant change to see a non-discounted accelerated book build. The backing from purebond is a welcomed game changer here.

[bill216] 02/5/2024 13:43

I suppose they have more info than you

[kdickson] 02/5/2024 13:05

SP Angel . Morning View .
Copper holds below $10,000/t as China physical demand indicators pick up.
Kavango Resources* (KAV LN) 1.2p, Mkt Cap £16m – Successful equity placing and Zimbabwe update.

Kavango Resources has completed its accelerated bookbuild.

The Company has raised £3m through the issue of 257m shares at 1.2p.

Purebond Limited underwrote the bookbuild, subscribing for 221m new shares.

CEO Ben Turney has subscribed for 2m shares, with NED Peter Wynter Bee subscribing for 16.75m new shares.

The Company will use the funds raised for advancing their exploration efforts in Zimbabwe and Botswana.

Diamond drilling will be conducted to test potential for an economic gold ore body at the Hillside/Nara projects in Zimbabwe.

5,000m of drilling is planned at the Kara Anticline copper target on the Kalahari Copper Belt in Botswana.

Funds will also be invested into Kavango’s gold production at Hillside, where management is looking to produce 1kg/month over the course of 2024.

Kavango also announced today it has exercised an option over the Hillside project, becoming the sole owner over a Hillside and Leopard South, for cash considerations totalling $650k.


*An share price Angel Analyst holds shares in Kavango

[jp2011] 02/5/2024 08:42

RNS very poor deal for KAV shareholders, factoring the CGT and revised terms $2-4m worse. Exact figure hard to estimate because depends on share price at a later date. CEO needs a decent accountant and to lay off the Jonnie Walker. I get PWB who is an insider has invested £700,000 but FFS what are they playing at? Leopard South would need to find at least 1m oz, but more like 2m if factoring in drill costs.

[paulhopeful] 02/5/2024 07:54

Will be interesting to see the plan to grow production at Hill Side. Two rigs at the Kalahari copper Belt will save time, good to see the presence of Galena and Sphalerite, important ores of lead, zinc, and a source of silver. Copper is often found in deposits with these metals.

[hjfe] 01/5/2024 13:57

Nice to see directors buying as part of the bookbuild.

[apotheki] 29/4/2024 10:54

SP Angel . Morning View . Copper prices hold $10,050/t as inventory levels tick lower

Kavango Resources* (KAV LN) 1.23p, Mkt Cap £16m – Initial MRE for Nara tailings project, Zimbabwe

· Kavango Resources has announced plans to raise £3m through the issue of 257m shares.

· The accelerated bookbuild will be undertaken at a price of 1.2p/share, underwritten by Purebond Ltd who are subscribing for 135m shares.

· Funds will be used to continue drilling at Hillside, where recent intersections included 7.2m at 9.95g/t Au. Focus will be on testing the target along strike.

· Kavango is set to begin its 5,000m drilling programme at their Karakubis Copper Project on the Kalahari Copper Belt, following some encouraging surveying and mapping.

· Funds will enable an accelerated programme by adding a second rig to the Karakubis Project.

An share price Angel Analyst holds shares in Kavango

[3ootuk] 29/4/2024 10:13

Still a bit of a lifestyle company, using other people's money.

[jp2011] 29/4/2024 09:23

It's dilution before drilling results from the last £4.4m raise

[palace pete] 29/4/2024 09:10

Dilution hope they get a big find.

[apotheki] 29/4/2024 08:40

Ben Turney, Chief Executive Officer of Kavango, commented:

"We are extremely grateful to Purebond for their continued strong support of Kavango.

As the prices of gold and copper continue to rise, this is an ideal time to make major discoveries in both metals. Thanks to Purebond's powerful financial backing, Kavango has developed its projects swiftly in Zimbabwe and Botswana. Today's £3.08million accelerated bookbuild will enable us to build on this momentum.

In Zimbabwe we recently announced results of two successful gold exploration holes at our Hillside Project. Highlights included 7.2m @ 9.95g/t at Prospect 2 and 2.53m @ 29.08g/t at Prospect 4. We will use some of the funds raised in the bookbuild to take the diamond drill rig back to Hillside to test the strike, width, and extent of these possible discoveries.

Meanwhile, in Botswana, we are about to embark on a 5,000m diamond drill programme at the Karakubis Copper Project, part of our extensive 7,500km2 mineral rights package in the Kalahari Copper Belt. Having recently completed detailed surveying and mapping, we believe we have identified the right geological setting and structural controls for potential large-scale copper/silver deposits across the Kara Anticline.

It now remains for us to test whether the Kara Anticline contains a copper mineralised system. Physical indicators are encouraging, with the presence of pathfinder minerals galena and sphalerite. We are keen to start this landmark drill campaign and will use some of the funds raised to deploy a second rig to the Karakubis Project. This will halve the time it takes for us to complete the programme.

If any existing Kavango shareholders wish to participate in the accelerated bookbuild, please contact our broker First Equity."

Participating in the Accelerated Bookbuild

Kavango's broker, First Equity, will coordinate the Accelerated Bookbuild.

To participate in the Accelerated Bookbuild please contact Jason Robertson:

Telephone: [phone]

Email: [e-mail]

[paulhopeful] 27/4/2024 16:40

Glad that others can see the potential for dividends in the future, Kav are in small scale production already, with plans to expand this soon. “We’re taking a staged approach towards building a multi-million ounce mineable Gold camp in Zimbabwe”. I like the idea of staged approach, they have plans to grow the small-scale side of the business, with long-term plan to build modular ore processing plant in stages, sounds good to me.

[jp2011] 26/4/2024 13:55

Look at the metrics, cost per oz, % of NPV & it's a cheap deal. Highlights KAVs licence deals were not cheap and they need to find a lot of gold to justify. Also they're investing all this money in Zim but based on the Ariana deal it won't create huge amounts of shareholder value other than cash invested. KAV want to get into production but that's a tall order for 1-2m oz operations, could be looking at 5-8 years until profitable and paying dividends.

[apotheki] 25/4/2024 11:33

Ariana Resources (AAU LN) 2.7p, Mkt Cap £32.4m – Rockover merger brings in 1.3moz Dokwe gold deposit in Zimbabwe

Ariana Resources confirms that it has reached a conditional agreement for a merger with Rockover Holdings which owns the 1.3moz Dokwe gold project in Zimbabwe.

The planned merger, through Ariana Resources’ wholly owned subsidiary, Asgard Metals, which currently owns 2.1% of Rockover, will be via shares “based on a merger ratio in the enlarged entity of 62.5% Ariana existing shareholders and 37.5% Rockover existing shareholders”.

“Based on the merger ratio, Ariana would issue 687,817,998 new ordinary shares … to acquire the shares in Rockover not already owned”.

Ariana Resources says that it expects the merger to “be implemented by 28 June 2024 … [and that it] … intends to seek a dual-listing on the Australian Securities Exchange ("ASX") to promote the opportunity to a broader range of potential investors”.

The Dokwe North deposit “contains 1.21Moz in JORC 2012 … Measured, Indicated and Inferred Resources, including 0.8Moz in Proven and Probable Reserves; Dokwe Central contains 80,000oz in JORC 2004 Indicated and Inferred Resources … [and the company reports that a 2022 pre-feasibility study, currently being revised, shows] … a mine life of 13 years at a post-tax NPV10 of US$72 million and an IRR of 25% at a gold price of US$1,650/oz”.

Conclusion: Ariana Resources’ all-share merger with Rockover Holdings is expected to be concluded by the end of June bringing in the 1.3moz Dokwe gold project in Zimbabwe.

[wi1l] 24/4/2024 07:28

Last night's rns may have been missed..........

23/04/2024 5:12pm
RNS Regulatory News


RNS Number : 7432L
Kavango Resources PLC
23 April 2024

23 April 2024

Kavango Resources

("Kavango" or "the Company")

ZIM - Hillside Option Exercise

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce that it has provided notice of exercise of the Hillside Call Option to the vendors of the Hillside Project ("Hillside") and Leopard South Project ("Leopard South"). Kavango intends to extend the Call Option on Leopard North to 30 June 2025.

Purchase agreements for Hillside and Leopard South are being drawn up by the Company's legal representatives and completion is scheduled for 15 May 2024.

Summary

· The Sellers and Kavango entered into call options in respect of the Hillside, Leopard North and Leopard South projects in a Call Option Agreement ("The Call Option") dated 25 July 2023, (announced >>> 25 July 2023). The Call Option had an initial term of six months, expiring 24 January 2024. This was subsequently extended, pending negotiation of revised terms following introduction of the Special Capital Gains Tax in Zimbabwe. Any material revisions to the terms will be announced in due course.

· Kavango has served notice of exercise to the Sellers, effective 23 April 2024.

· Completion is expected to occur on 15 May 2024.

[paulhopeful] 23/4/2024 08:53

More gold at prospect 2 now, and it’s relatively shallow, Well done team, looks like the induced polarisation surveys is the key to unlock Hillside, bring it on.

[giantpeach2] 23/4/2024 07:44

Hillside Prospect 2 Assay Results

ZIM: 9.95g/t gold intercepted over 7.2m Prospect 2

Kavango Resources plc (LSE: KAV), the Southern Africa focussed metals exploration company, is pleased to announce the first assay results from the Hillside Prospect 2 gold project ("Prospect 2") in Matabeleland, southern Zimbabwe.

Highlights

· Hole BRDD001 was a scoping hole sited to target mineralisation below multiple sets of artisanal workings on the northern margin of a broad deformation zone.

· BRDD001 was drilled to a total depth of 400.40 m and intersected an intensely deformed and well mineralised zone, 7.2m wide, hosting gold and associated sulphides in anastomosing shears, at a relatively shallow depth.

· Best results* in the hole include:

- 7.2 m @ 9.95 g/t gold from 50.64 m and including 1.61 m @ 31.57 g/t gold.

- 2.00 m @ 2.12 g/t gold from 86.00 m.

· An Induced Polarisation (IP) survey identified a series of IP (chargeability & resistivity) anomalies interpreted to represent a set of anastomosing shears hosted within a broad deformation zone, approximately 700m wide.

- There are no artisanal workings over interpreted additional shears in the central part of the deformation zone.

- Kavango intends to test the gold-bearing potential of these shears in future exploration by drilling a fence of holes to test for a bulk-minable gold deposit across the entire zone.

· Results are pending for NSDD001 (Prospect 3) located on the southern end of the deformation zone.

[paulhopeful] 22/4/2024 16:03

Agree Spangle93, I was happy with the one high-grade zone from one drill, could imagine what that would do for our existing facility, especially later with an extra stamp mill. If the fence drilling does prove possibly up to five mineralised shear zones in this small area, then perhaps that would be a good indication of what could have been missed elsewhere, as only two have artisanal workings, think we are mostly under the radar for now.

[spangle93] 22/4/2024 14:32

I actually thought it was a good RNS - clearly the world waits for data now, rather than listening to the words alone.

[kdickson] 22/4/2024 11:31

SP Angel . Morning View .

Kavango Resources* (KAV LN) 1.1p, Mkt Cap £13.7m – Geophysics identifies drilling targets at Hillside, Zimbabwe

- Kavango Resources reports that induced-polarisation (IP) geophysics at its Hillside Prospect 4 gold prospect in Zimbabwe has identified up to five potentially mineralised shear zones over 500m of strike length and 700m width.

- The company says that two zones shown in the IP survey “appear to coincide with a series of parallel artisanal workings … [and that] … ”Three additional shear zones have been interpreted under slightly thicker cover and remain undiscovered by the artisanal miners with no indications of historic workings”

- Kavango Resources says that it plans “to drill a fence of six holes to test potential for a bulk-minable gold deposit at Prospect 4”.

- On 15th April, the company announced results of its drillhole SKDD-001 at Hillside Prospect 4 showing an intersection of gold mineralisation including visible gold and 2.53m at an average grade of 29.08g/t gold from a depth of 97.47m.

- In today’s announcement, Chief Executive, Ben Turney, says that the IP survey was conducted after the results of the drilling and that the “high-grade upper intersection in Hole SKDD001 represents a near-term, minable opportunity well within trucking distance of the Hillside stamp mills … [and that] … Kavango Mining is currently developing a work plan to pursue this”.

- Interestingly, however, Mr. Turney also says today that “it is the presence of the smaller, low-grade lower intersection in the same hole that our exploration team is now pursuing. Hole SKDD001 appears to have clipped a second shear zone, as indicated by results from the IP survey … [and the company now plans] … to return to Prospect 4 and drill a fence line of holes to test the IP anomalies and additional parallel artisanal mine workings we have identified. If these prove to be wide gold-bearing shear zones, Prospect 4 could represent an unanticipated bulk-minable opportunity”.”

Conclusion: Kavango Resources’ understanding of the geological nature of its target at Prospect 4 seems to be evolving swiftly as geophysical work is pointing to the possibility of a larger bulk mining opportunity rather than the narrow high grade concept envisaged originally. Considering a range of geological possibilities at this relatively early stage seems a prudent and sensible approach to the evaluation of Prospect 4 and we await results from the new fence of holes with interest.


*An share price Angel Analyst holds shares in Kavango

[jp2011] 22/4/2024 10:26

Sort of. The statements today are based on 3d IP survey which was not available at the time of the drill, this maps out various structures in 3d which KAV are not sharing with the market. There is a single drill hole providing information including 2 small intercepts but also quite a lot of rubbish, the drill helps to define the relationships between gold and resistivity, it allows the geologists to come up with theories about where gold might form.

[paulhopeful] 22/4/2024 08:20

We are confident in the commercial potential of prospect 4. Excellent early result, all from just one hole.

[spangle93] 22/4/2024 08:16

More news from Zimbabwe

[kdickson] 19/4/2024 12:10

SP Angel . Morning View . Copper prices to break $10,000/t as negative Tc/Rcs highlight smelter scramble for material

Kavango Resources* (KAV LN) 1.05p, Mkt Cap £14m – Drill program to test Karakubis project in the Kalahari Copper Belt

- Kavango Resources report the tendering for the first phase of drilling on the Kalahari Copper Belt Karakubis project, Botswana.

- Management plan to drill 5,000m of diamond core on the Karakubis project in western Botswana targeting the shallower Kara Anticline for copper mineralisation.

- Target generation follows the analysis of AEM ‘Airborne Electro Magnetic’ and IP ‘Induced Polarisation’ surveys, and a new interpretation of the former ENRG licences which were not previously drilled.

- The drill program should see 10-15 diamond core holes from May to September with assays due along the way.

- Karakubis hosts three of the domal features which look similar to structures along strike from Sandfire’s Motheo Copper Mine.

- “The D'Kar Formation and Ngwako Pan Formation contact is known to host the majority of copper/silver mineralisation across the Kalahari Copper Belt.”

Kavango are also working towards gold production from the Nara Gold tailings in Zimbabwe.

*The share price Angel Analyst holds shares in Kavango