Kavango Resources Share Discussion Threads

[danmart2] 29/1/2024 14:24

What a terrible investment Kavango has been

[kdickson] 25/1/2024 11:17

SP Angel . Morning View .
Metals rally as traders continuing buying following surprise China rate cut.

Kavango Resources (KAV LN) 0.65p, Mkt cap £8.8m – Gold exploration progress at the Hillside project, Zimbabwe

Kavango Resources reports that it is preparing drilling of a fourth target at the Hillside gold project in Zimbabwe and that it is awaiting permission for the export of samples from diamond drilling of three other targets for assaying.

The latest hole is planned to test “a number of possible gold-bearing structures … [at around 250m depth] … adjacent to a historic narrow vein-hosted high-grade gold mine that was subject to near-surface mining”.

The old mine “reportedly produced at an average recovered grade of 13g/t gold at various times from 1910 until recently”. Historic workings were “limited to the near-surface oxide zone, at shallow depths” and Kavango Resources plans to test “a highly prospective greenstone gold target, located in a shear zone in granites and extending across the contact margin”.

The company is also testing geochemical samples from augur drilling of the “largest tailings dump at the Nara Project” and is awaiting export clearance for samples from geochemical testing “over … [the] … entire Nara area”.

Further geochemical work is planned for the Leopard Project.

Chief Executive, Ben Turney, described Zimbabwe as offering “enormous, unrealised potential in … [its] … goldfields … [and expressed hope that] … Kavango's success will help illustrate what is possible in this exciting, heavily underexplored gold province”.

Conclusion: Further gold exploration drilling in Zimbabwe is planned with a hole next to an historic mine aiming to test the deeper potential beneath near-surface oxide hosted workings.

[jp2011] 28/12/2023 16:03

It's been going on for a while, .6p seems to be their floor, stop for a day or two, rinse repeat.

[palace pete] 28/12/2023 13:55

Someone's unloading 6 million sells.

[paulhopeful] 09/12/2023 11:14

JP2011: I agree, and with using cash for it’s own business, has plenty now but it doesn’t last forever. Must be optimism from Pure Bond, that’s a serious amount of money to invest, perhaps these are easier projects than what was attempted in the past, maybe with more chances of success, time will tell.

[jp2011] 08/12/2023 18:28

Re PWB, I always think it's a false comparison saying A to B because there's always a huge amount of dilution on the journey so in reality a 100 bagger is more like a 5 bagger on a per share basis.

[paulhopeful] 08/12/2023 15:54

Peter winter-Bee founded a copper asset in 2015, took that from 100k to a billion. Wants to repeat this. Sounds like he’s the main reason for pure bond investment. Peter and Ben bought over half a million of this stock. Kalahari copper belt drilling next year, other huge mines in the area. Zimbabwe “we believe there are 10s of millions of ounces of bulk mineable gold” Ben moving out there. First results from the Nara and Hillside gold project in the new year. Is this all just talk, or something big, seems under the radar for now. Think peters involvement is interesting.

[jp2011] 08/12/2023 13:30

BT thinks it's a really good investment albeit too small for KAV, I'd rather KAV concentrated the cash on its own projects. My personal view is the Pambili CEO is pretty smart and KAV didn't want them bidding up other opportunities so for relatively small money BT influences Pambili going forwards.

[3ootuk] 29/11/2023 16:28

So Pambili basically hadn't got enough working capital to pay the auditors until Kavango stepped in?
Now they need to fund full surveys, recommission underground mining, and probably refurbish the processing plants. At least KAV have money after the fund raising.

[jp2011] 24/11/2023 13:10

Expect verbal and photos mid Dec, assays Mar to Apr

[jp2011] 24/11/2023 13:08

Define results?photos, verbal, XRF, assays

[hawki4] 22/11/2023 18:15

Any idea when Zimbabwe drilling results are due? Seems awhile now since that started.

[bigglesbingham] 06/11/2023 19:09

You don't like ? How does boss but half mill quids worth ?

[bigglesbingham] 06/11/2023 19:08

I agree I will be purchasing soon

[paulhopeful] 06/11/2023 17:08

Nobody would spend half a million .. unless they are very confident, excellent news.

[apotheki] 06/11/2023 14:16

Power Metal still likes Kavango but sells all shares back to execs

(Alliance News) - Power Metal Resources PLC on Monday said it sold its entire holding of 69.5 million shares in Kavango Resources PLC, but stressed that this "does not reflect any negative view" of the company.

Kavango is a metals exploration company with assets in Botswana and Zimbabwe, while Power Metal is focused on North America, Africa and Australia.

On Friday, Kavango's Chief Executive Officer Ben Turney purchased 6.3 million shares for 0.8 pence each for GBP50,000 in total. At the same time, Non-Executive Director Peter Bee acquired 63.3 million shares for the same price, totalling GBP506,000.

On Monday afternoon in London, Kavango shares were up 6.3% at 0.85p each. Power Metal shares were down 2.4% at 0.61p.

Power Metal raised GBP556,000 in cash for this disposal of its shares in Kavango to bolster its cash reserves and fund its "high impact exploration initiatives".

Power Metal said it has retained 60.0 million warrants to subscribe for new shares in Kavango, which will expire on January 8, 2025. Of these, 30.0 million have an exercise price of 4.25p each while the other 30.0 million are priced at 5.5p each. It also holds a 1% net smelter return royalty respecting the project licence footprint in the Kalahari Copper Belt and the Ditau Camp projects it and Kavango previously held in joint venture.

Chief Executive Officer Sean Wade reassured investors: "Whilst we would describe our holding in Kavango as non-core our disposal does not reflect any negative view of their business or their ambitions and we wish them well in their endeavours.

"Our priority however is deploying financial resources into Power Metal core projects whilst also streamlining the diverse interests of the company and demonstrating our ability to raise cash for operations through means other than equity financings which dilute investor holdings."

Wade continued: "The funds raised will add to our significant existing cash balances and will be utilised for accelerated exploration, including drilling of certain high impact retained exploration projects targeting large-scale metal discoveries."

[jp2011] 06/11/2023 13:46

What do you make of the purchase?

[kdickson] 06/11/2023 12:11

Power Metal Resources* (POW LN) 0.62p, Mkt cap £13m – Sale of Kavango shares raises £556k

Power Metal reports the disposal of its total holding of Kavango Resources at 0.8p/share.

The sale raised £556k for deployment in exploration activities.

POW retains 60m warrants, half of which are exercisable at 4.25p and half at 5.5p, expiring on 8th January 2025.

The Company retains a 1% NSR over the Kavango Kalahari and Ditau Camp projects.

*SP Angel acts as Nomad and Broker for Power Metal Resources

[paulhopeful] 02/11/2023 23:35

JP2011: I agree, it would be expensive, the shallower southern KSZ was pointed to by the expert, but more shots at more cost affective targets makes sense, with any success .. you never know who might write a cheque. I think once the fundraising has completed, and the campaigns and news begins the excitement will build.

[palace pete] 01/11/2023 15:08

China to spend 2 billion in Zim for lithium.

[apotheki] 01/11/2023 10:15

FIRST EQUITY

Kavango Resources plc (KAV,L)*

1 Nov 2023

Price: 0.725p

MCp: £9.5m

Tck: KAV.L

Sector: Resources

Geo: Botswana & Zimbabwe

Recommendation: Buy

Completion of £6m Financing

Kavango Resources (KAV.L) yesterday completed its £6m fund raising at 1.0p per share with the issue of second stage placing shares to investor Purebond Limited, which now holds an interest of 52.5%, although this is expected to be diluted to 49.3% when 84m consideration shares are issued to the vendors for two of the new Zimbabwe gold projects.

This financing was completed after the publication of the Prospectus last week and passing of General Meeting resolutions required to issue the second stage placing shares (£4.6m worth) and investment of £1.4m secured at the first stage back in June 2023. These were both completed at a 1.0p placing price.

FE Comment

With net proceeds of £5.9m at its disposal, Kavango Resources is now probably one of the most well financed micro-cap exploration companies listed in London.

Funds will principally be earmarked for exploration work programmes on the KCB copper project in Botswana (which the Company expects to drill in Q1 next year), along with the newer interests in Zimbabwe on the Nara, Hillside and Leopard gold projects. Drilling has commenced at Hillside in recent days and is expected to be complete before Christmas. Kavango has imported a multi-purpose rig into Zimbabwe to continue exploration drilling in the New Year. The proceeds will also be used at Ditau and KSZ, along with working capital and project acquisition payments.

Since the middle of July this year, the shares have traded below the 1.0p placing price and continue this pattern today after the issue of second-tranche shares, with a discount of around 25%, at a bid-offer quote of 0.70p-0.75p.

Pricing anomalies such as this do not last for long. We therefore recommend investors take advantage of this short-term buying opportunity to invest in a well-funded exploration company that now has the financial resources to advance its projects in both Botswana and Zimbabwe. Moreover, the prospect of near-term revenue generation from the gold tailings Nara interest provides an extra dimension to the situation. We therefore recommend the shares as a ‘Buy’.

[jp2011] 31/10/2023 09:01

You need your head testing if you think the IOCG target is worth pursuing. Firstly KAV found very little evidence of base metals in Northern KSZ, as did the other drillers going back 40 years. KAVs geophysics is suspect as per 2022/23 campaigns. The IOCG target depth is 1000-2000m, do you have any idea how expensive that would be to drill just a 4 hole exploratory campaign 1m to 2m USD with a low probability of success. For that money KAV could create a JORC resource elsewhere adding bankable shareholder value. The only reason KAV includes Northern KSZ/IOCG on the website is that they include monies spent to date on the balance sheet because it looks good and they want to avoid write downs. I could be completely wrong and perhaps Rio/AA etc will write a cheque for 20m but suspect he'll will freeze over first.

[paulhopeful] 29/10/2023 17:41

Thank you Apotheki: many different targets to go for, with plenty of money, a lot to take in, like the sound of the IOCG target .. all sounds very interesting, surely something would come up trumps, much to consider.

[apotheki] 26/10/2023 17:25

Today paulhopeful [see copy of the RNS below]

Publication of Prospectus

Further to the announcement of 9 May 2023 in which Kavango announced it had conditionally raised GBP6,000,000 before expenses by the two stage issue of 600,000,000 new ordinary shares of GBP0.001 each in the capital of the Company (the "New Ordinary Shares") at a price per share of 1.0 pence, the Company is pleased to announce that the Financial Conduct Authority has approved its prospectus dated 26 October 2023 (the "Prospectus") issued in connection with the Stage 2 Subscription of 460,000,000 New Ordinary Shares (the "Stage 2 Subscription Shares").

The Prospectus has been published in electronic form and will shortly be available on the Company's website at:

hxxps://www.kavangoresources.com/investor-relations/admission-document

A copy of the Prospectus has also been submitted to the National Storage Mechanism and will shortly be available for inspection at

hxxps://data.fca.org.uk/#/nsm/nationalstoragemechanism

Admission and Total Voting Rights

Application will be made for the Stage 2 Subscription Shares to be admitted to the Standard List segment of the O cial List and to trading on the main market of the London Stock Exchange plc ("Admission"). It is expected that Admission will become e ective and that dealings in the Stage 2 Subscription Shares will commence at 8.00 am on 31 October 2023.

Following Admission, the total issued share capital of the Company will consist of 1,305,569,314 ordinary shares. Therefore, the total number of voting rights in the Company is 1,305,569,314 and this gure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest, in the share capital of the Company.

Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on X at #KAV.