Kavango Resources Share Discussion Threads

[skiboy10] 05/3/2019 16:49

Kavango boosts coffers once again, with new £250,000 raise

07:56 05 Mar 2019

The money raised will go towards exploration on the Kalahari Suture Zone

Kavango Resources PLC (LON:KAV) has raised £250,000 through a placing of just under 9mln shares at a price of 2.8p each.

The fundraiser comes immediately after a 25 February 2019 placing, which raised £500,000.

The most recent placing came following an approach from broker Turner Pope.

Each placing share has a warrant exercisable at 12p.

The funds will be used to accelerate exploration at the Kalahari Suture Zone project in southwest Botswana.

"We are extremely pleased to welcome our new investors introduced by Turner Pope, who have successfully assisted the company in raising an additional £250,000,” said chief executive Michael Foster.

“The proceeds will allow Kavango to accelerate further its exploration program at the KSZ project area. The KSZ project covers over 9,000 square kilometres of prospecting licences prospective for base metals in southwest Botswana. The funds will also assist us to review other highly selective but potentially very interesting natural resource opportunities in Botswana.”

[skiboy10] 05/3/2019 09:54

My understanding is that as KAV are listed on the main market and not AIM like so many others that they can only raise 20% of their market cap in any rolling 12 month period unless they produce a new prospectus or move to another exchange like AIM. So no more placings for 12 months and they are now fully funded to accelerate the exciting drilling underway at the KSZ. Game on!

[jone06] 27/2/2019 16:08

Near 30% spread... Doesn't really incentive the day traders.... A good thing!

[daniel levi bmd] 27/2/2019 13:19

FYI

Nostra Terra Oil & Gas. Fraud with a capital 'F'. 'Gone for a Burton'.

Dan
x

[skiboy10] 27/2/2019 13:18

From the listing RNS..didn'twe just start drilling at Ditau then see an unexpected placing?'If mineralisation is discovered at any of the Project sites, Kavango will consider raising further funding if the Directors elect to further advance the development of such mineralisation.'https://www.kavangoresources.com/investor-relations/news/122-admission-to-main-market-and-first-day-of-dealings

[jone06] 25/2/2019 08:11

At 2.8p it's above the previous raise of 2.5p so the IIs and high net worth types will be happy with this timely raise.

[skiboy10] 25/2/2019 07:16

"On track"
"Progressing according to plan"
"Review other highly selective but potentially very interesting natural resource opportunities"
£500,000 at a decent price

All sounds good to me

[skiboy10] 25/2/2019 07:13

Michael Foster, Chief Executive Officer of Kavango Resources, commented:

"We are pleased to announce the successful conclusion of a placement with clients of SI Capital Limited. The proceeds of £500,000 before expenses, will allow Kavango to accelerate its exploration program at the Kalahari Suture Zone (KSZ) project area. The KSZ project covers over 9,000 km2 of prospecting licences prospective for base metals in southwest Botswana.

The funds will also assist us to review other highly selective but potentially very interesting natural resource opportunities in Botswana.
Our current exploration programme in Botswana is on track, with both the airborne electromagnetic (AEM) survey (see RNS dated 21 January 2019) and the drilling at Ditau, which forms part of the KSZ project (see RNS dated 28 January 2019) progressing according to plan. Further information is expected to be available shortly on both these programmes which the Company will of course relay to the market at that time”.