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DateSubject
18/4/2021
09:20
Kavango Resources Daily Update: Kavango Resources Plc is listed in the Mining sector of the London Stock Exchange with ticker KAV. The last closing price for Kavango Resources was 3.15p.
Kavango Resources Plc has a 4 week average price of 2.75p and a 12 week average price of 2.60p.
The 1 year high share price is 3.85p while the 1 year low share price is currently 0.58p.
There are currently 333,152,139 shares in issue and the average daily traded volume is 1,690,744 shares. The market capitalisation of Kavango Resources Plc is £10,327,716.31.
29/3/2021
07:04
skiboy10: 29 March 2021 KAVANGO RESOURCES PLC ("Kavango" or "the Company") Prospecting Licence acquisitions on the Kalahari Copper Belt, Botswana Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the signing of two agreements that would allow a 50/50 Joint Venture between Kavango and Power Metal Resources plc (LSE:POW) ("Power Metal") to acquire a 100% interest in eight prospecting licences (PLs) in the highly prospective Kalahari Copper Belt ("KCB"). Highlights Ø The Joint Venture is incorporated in the Botswana registered, Kanye Resources (Pty) Ltd ("Kanye"), the 100% subsidiary of UK incorporated Kanye Resources Plc in which Kavango and Power Metal each hold a 50% interest. Ø Kanye has signed two separate agreements to purchase 100% of the eight PLs. This includes: - Four PLs in proximity to Ghanzi in the central zone of the Botswana KCB from Shongwe Resources (Pty) Ltd for US$200,000. - A further four PLs near the town of Mamuno on the Namibian border for US$230,000, which has been signed with Vinmarsh Interprises (Pty) Ltd. Ø Both transactions are subject to due diligence and the approval of the Botswana authorities. Ø Kanye's two existing PL's that lie immediately south of the town of Ghanzi are currently held in the name of Kavango Minerals (Pty) Ltd and are in the process of being transferred to Kanye. Ø After transfer of all ten PLs, Kanye will control 4,255km(2) of exploration ground in the KCB, targeting the discovery of commercial copper/silver deposits. Ø Results from the South Ghanzi AEM surveys are expected in April. Michael Foster, Chief Executive Officer of Kavango Resources, commented: "The acquisition (subject to approvals in Botswana) of eight new prospecting licences is a major step forward in the development of Kanye Resources Plc as a significant player in the exploration for copper in the highly prospective KCB. Kavango's experienced "in country" exploration capacity combines well with the financial expertise and assets of Power Metal. We are happy with the progress we are making on this project and look forward to providing more updates over the coming weeks." Kanye Kanye Resources (Pty) Ltd, incorporated in Botswana, is a 100% subsidiary of UK registered Kanye Resources Plc and is the Joint Venture initiative between Kavango (50%) and Power Metal (50%). It is planned to list Kanye Resources Plc on the LSE later in the year. Kanye currently has a 100% interest in the two Ghanzi South PLs on the KCB (1,294km(2) ) and the two "Ditau" PLs south of the town of Kang in central Botswana (1,386km(2) ), which is prospective for minerals associated with carbonatite including rare earth elements. All four PLs are being transferred from Kavango Minerals (Pty) Ltd into the name of Kanye. Earlier in March SkyTEM completed over 1,300km of airborne EM surveying on the Ghanzi South PLs on behalf of Kanye. The contractor's final report will be available in April. Shongwe Resources (Pty) Ltd Subject to due diligence and approval of the Botswana authorities, the directors of Shongwe Resources have agreed to transfer four licences (480km(2) ) situated south and west of Kanye's Ghanzi South PLs for a cash consideration equivalent to US$200,000. Kavango and Power Metal will each contribute 50% to the acquisition cost. VinMarsh Interprises (Pty) Ltd Subject to due diligence and approval of the Botswana authorities, the directors of VinMarsh Interprises (Pty) Ltd have agreed to transfer four licences (2,481km(2) ) situated on the border with Namibia in the vicinity of the border town of Mamuno for a cash consideration equivalent to US$230,000. Kavango and Power Metal will each contribute 50% to the acquisition cost. Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV. For further information please contact: Kavango Resources plc Michael Foster mfoster@kavangoresources.com First Equity (Joint Broker) +44 207 374 2212 Jason Robertson SI Capital Limited (Joint Broker) +44 1483 413500 Nick Emerson The information in this press release that relates to "geological and/or geophysical results" for the South Ghanzi Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc. NOTES TO EDITORS KAVANGO'S INTERESTS IN THE KALAHARI COPPER BELT Kavango's exploration licenses in the KCB include: The South Ghanzi Project - 50% working interests in prospecting licenses PL036/2020 and PL037/2020 (totalling 1,294km(2) ), held in Joint Venture with Power Metal. (announced 21 September). The LVR Project - Earning in a 90% interest in prospecting licenses PL082/2018 & PL 083/2018, held in a Joint Venture with LVR GeoExplorers (Pty) Ltd ("LVR"), which cover 1,091km (2) THE SOUTH GHANZI PROJECT GEOLOGICAL SETTING The South Ghanzi Project and LVR Project areas include lengthy redox boundaries, close to surface, that represent excellent exploration targets. The redox boundaries were formed several hundred million years ago in active sedimentary basins flooded by shallow seas. Organic matter accumulating on the sea floor created anoxic conditions, which formed a chemical barrier to metal ions rising upwards through the sediments as the basin subsided. The change in chemistry caused the precipitation of metal species (carbonates, sulphides etc.) including copper and silver on or just below the redox boundary. Subsequent tectonic activity folded the sedimentary layers, which was often accompanied by the concentration of metals into the fold hinges. The upward rock slopes of these fold hinges are known as synclines, while the downward rock slopes are called anticlines. Several large-scale copper/silver ore deposits have been discovered on the KCB in such hinges in areas now held under licence by Sandfire Resources (ASX:SFR) and Cupric Canyon (a privately owned mining company). These deposits are relatively close to surface and are amenable to open pit mining operations. Accumulations of sulphide metals can be traced along the strike of the redox boundaries (sometimes for many kilometres), since they often have a higher magnetic signature than the surrounding rock. THE DITAU PROJECT The Ditau Project comprises two prospecting licences ("PLs") (PL169/2012 & PL010/2019) that cover an area of 1,386km (2) . Geophysical and geochemical analyses by Kavango in the two PLs have identified 10 "ring structures" (including at least one possible kimberlite). The "ring structures" represent potential carbonatites. Carbonatites are the principal source of rare earth elements (REEs) including the much sought-after elements Neodymium (Nd) and Praseodymium (Pr), which are used in the manufacture of the new generation of electric vehicles (EVs), magnets and other high-tech applications. One of the ring structures is a 7km x 5km magnetic and gravity anomaly with significant zinc-in-soils values. Assay and whole rock geochemistry results from two drill holes drilled on this ring structure in 2019 by Kavango demonstrated the presence of an extensive zone of altered Karoo sediments sitting above a mafic intrusive body. The alteration extended to over 300m in depth in both holes, which were 1.8km apart. The geochemistry obtained from the drill core suggested that the alteration was due to "fenitization", a type of extensive alteration associated with alkali magmatism and carbonatites. Fenite alteration is particularly associated with carbonatite intrusions, where it occurs as an aureole or halos around the carbonatite intrusive. It can indicate the presence of mineralised intrusions in a similar way that alteration patterns are used in other ore systems, such as porphyry copper deposits. Kavango suspects that the post-Karoo fenitized rocks intersected at Ditau may be comparable to the Longonjo carbonatite in Angola being developed as a neodymium and praseodymium open pit mine by Pensana Metals Limited. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END
03/2/2021
07:51
skiboy10: PRESS RELEASE 3 February 2021 KAVANGO RESOURCES PLC ("Kavango" or "the Company") KSZ South new licences & extensive work programme Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce it has secured two additional prospecting licences in the Southern Section of the Kalahari Suture Zone (the "Southern Section" of the "KSZ") and commenced an extensive work programme. Highlights v Two new prospecting licences awarded in the Southern Section - The Company now has licences totalling 7,573.1km(2) on the KSZ. v Through its work programme, Kavango will seek to develop its knowledge of the Southern Section to the same level as that of the northern (Hukuntsi Section). This will involve: - Re-logging cores from 149 historic drill holes - CSAMT and ground magnetic surveys - Ground geophysics - Development of a comprehensive 3D underground model v Future field exploration to include: - Time Domain Electromagnetic (TDEM) surveys - Test-drilling of high-speed conductors, which may be large-scale magmatic sulphide deposits, identified within gabbroic intrusions v Recruitment of new full-time geologist Michael Foster, Chief Executive Officer of Kavango Resources, commented: "We have refined sophisticated exploration methods over recent years at Hukuntsi. It is now time to leverage that experience in the Southern Section of the KSZ. The new licences strengthen our strategic position in the Kalahari Suture Zone. Given the size of our company, this represents a significant opportunity. We have already gathered compelling evidence that this region experienced extensive geological activity during the Karoo Age, which was conducive to the formation of large-scale magmatic sulphide deposits. The new work programme will significantly widen our search in our efforts to discover commercial mineral deposits." Exploration plans for the Southern Section In H2 2020, Kavango applied for two new prospecting licences in the KSZ Southern Section to extend its existing ground holdings. The Company is pleased to confirm that these licences have now been awarded and that Kavango has commenced an extensive new regional work programme. The Company's first goal will be to create an initial 3D magnetic model of the Southern Section, using the exploration methods and data gathering techniques refined on the northern (Hukuntsi) section. The Company has started compiling data from historic drill holes in the Southern Section. This includes 137 water boreholes and cores from 12 diamond drill holes. In parallel Kavango will carry out ground magnetic and CSAMT surveys across the Southern Section, to map the area's geology and stratigraphy. 3D magnetic modelling using regional magnetic data, historic drill hole data, CSAMT data and ground magnetic data will be carried out, as soon as the Company has acquired all the necessary data sets. Kavango expects to enhance the 3D model with follow up magnetic surveys together with the TDEM technology currently being deployed at Hukuntsi. Kavango's strategic objective will be to identify high-speed conductors at depth, which are situated within gabbroic intrusions for test drilling. To accelerate this new exploration programme, Kavango will recruit a new full-time geologist. Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV. For further information please contact: Kavango Resources plc Michael Foster mfoster@kavangoresources.com First Equity (Joint Broker) +44 207 374 2212 Jason Robertson SI Capital Limited (Joint Broker) +44 1483 413500 Nick Emerson Kavango Competent Person Statement The information in this press release that relates to "geological and/or geophysical results" for the South Ghanzi Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc. Note to Editors: THE KALAHARI SUTURE ZONE Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 14 prospecting licences covering 7,573.1km(2) of ground, including 12 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques. The area covered by Kavango's KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey's Bay (Canada). The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia's nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango's licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits. KSZ DEFINITIONS High Speed EM Conductors: are bodies of highly conductive minerals such as graphite, magnetite and metal sulphides, which conduct electricity very rapidly provided the mineral grains are in contact with each other. Metal/Magmatic sulphide: Deposits of sulphide mineral concentrations in mafic and ultramafic rocks, derived from immiscible sulphide liquids. To view a video of how metal/magmatic sulphides form please visit - https://twitter.com/KavangoRes/status/1316004057895645186?s=20
01/2/2021
11:19
skiboy10: 1 February 2021 KAVANGO RESOURCES PLC ("Kavango" or "the Company") Early commencement of AEM surveys in the KCB Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce it has signed a contract with SkyTEM Surveys ApS, ("SkyTEM") to fly 2,389km of airborne electromagnetic ("AEM") surveys over the Company's interests on the Kalahari Copper Belt ("KCB"). Kavango's projects in the KCB include: The South Ghanzi Project - 50% working interests in prospecting licences PL036/2020 and PL037/2020, to be held in a Strategic Joint Venture with Power Metal Resources (LSE:POW), which cover 1,294km(2) (the "POW SJV") The LVR Project - Earning in a 90% interest in prospecting licences PL082/2018 & PL 083/2018, held in a Joint Venture with LVR GeoExplorers (Pty) Ltd ("LVR"), which cover 1,091km(2) (the "LVR JV") Highlights v Kavango and its Joint Venture partners are searching for commercially viable copper/silver deposits on the KCB v SkyTEM is a leading airborne geophysical survey company based in Denmark. v AEM surveys have been instrumental in identifying most of the copper deposits on the KCB v SkyTEM will fly 2,389km of AEM, including: - 1,173km over the South Ghanzi Project - 1,216km over the LVR Project v Final flight plans being prepared, targeting areas of interest over regional geological structures where promising soil anomalies have been identified, which conformed to Kavango's exploration model v Flights to commence in February v Further soil sampling and other ground surveying to continue v POW SJV incorporated in England with subsidiary in Botswana Michael Foster, Chief Executive Officer of Kavango Resources, commented: "As we entered 2021 we promised to accelerate our field exploration, following the excellent progress we made last year. Our team has developed an increasingly comprehensive interpretation of the geological setting of our copper licences and we are well positioned to move to the next stage. AEM surveys are a powerful technology in helping exploration companies identify targets for test drilling. Encouraging results from initial soil sampling revealed a number of targets for immediate airborne analysis. The geology in the KCB is well documented with two copper/silver mines currently being developed. It is our belief that there is significant potential for further discoveries of major deposits." KCB AEM Surveys & Further Exploration SkyTEM acquires electromagnetic, magnetic and radiometric data from a helicopter platform. The highly accurate data it delivers is a critical component for subsurface exploration. AEM data is gathered by transmitting an electromagnetic signal from a low flying helicopter. This signal induces current eddies in the ground, which are received by a large loop of coils carried underneath the helicopter. This technology enables SkyTEM to detect variations in the conductivity of the underlying rocks to depths of over 300 metres. Processing and interpretation of this data will enable Kavango's exploration team to identify and differentiate any conductors encountered. Depending on the EM response, these conductors could become targets for future drilling. SkyTEM will fly 2,389km of AEM on behalf of Kavango and its joint venture partners, including 1,173km over the South Ghanzi Project and 1,216km over the LVR Project. Final flight plans are currently being prepared, guided by encouraging soil sample results from both South Ghanzi and the LVR Project. Kavango has now signed a contract with SkyTEM to carry out the work, which is expected to begin in February. In the meantime, the Company will continue to carry out further soil sampling and ground magnetic surveys at both South Ghanzi and the LVR Project. POW SJV Kavango announces that it has incorporated a new, privately held Plc in London called Kanye Resources ("Kanye"). Kanye will be the vehicle for the POW SJV. Kanye Resources Botswana Pty Ltd has also been incorporated as the local operating company for the POW SJV. Kavango will commence the application process for environmental permits in the coming weeks. Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV. For further information please contact: Kavango Resources plc Michael Foster mfoster@kavangoresources.com First Equity (Joint Broker) +44 207 374 2212 Jason Robertson SI Capital Limited (Joint Broker) +44 1483 413500 Nick Emerson NOTES TO EDITORS KAVANGO'S INTERESTS IN THE KALAHARI COPPER BELT Kavango's prospecting licences in the KCB include: The South Ghanzi Project - 50% working interests in prospecting licences PL036/2020 and PL037/2020 (totalling 1,294km(2) , to be held in a Joint Venture with Power Metal Resources (LSE:POW) (announced 21 September). The LVR Project - Earning in a 90% interest in prospecting licences PL082/2018 & PL 083/2018 (totalling 1,091km(2) ), held in a Joint Venture with LVR GeoExplorers (Pty) Ltd ("LVR").
23/12/2020
12:13
skiboy10: 23 December 2020 KAVANGO RESOURCES PLC (“Kavango̶1; or “the Company”) South Ghanzi Project – Copper Exploration Update Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce an exploration update for the South Ghanzi Project in the Kalahari Copper Belt (the “KCB”). The South Ghanzi Project includes two prospecting licenses in the KCB held in a Strategic Joint Venture with Power Metal Resources (LSE:POW) (“Power Metals”). Highlights ❖ Portable XRF analysis was completed on 335 soil samples previously collected − Encouraging concentrations of zinc identified − Zinc is a recognised pathfinder element for the less mobile copper ions in the soil − Elevated levels of zinc indicate shallow mineralisation ❖ 127 follow-up soil samples collected, dried and sieved − Soil samples taken in areas of particular interest − Portable XRF analysis ongoing ❖ Interpretation of regional aeromagnetic surveys has identified favourable stratigraphy in anticlines and synclines within the licences. − Anticlines and synclines are formed by folding the sedimentary strata and creating particularly favourable sites for “thickenedR21; orebodies − Anticlinal “domes” can bring the mineralisation close to surface and within reach of open pit mining. ❖ Higher concentrations of zinc anomalies identified near several anticlines − Samples sent to laboratories for assay testing and “TerraLeach221; digestion. − Results expected in the New Year Michael Foster, Chief Executive Officer of Kavango Resources, commented: “Our exploration team worked hard before Christmas to complete initial analysis of soil samples taken at South Ghanzi. These results are certainly very encouraging. Follow-up sampling will carry on into Q1 of 2021. We are early in the exploration process, but are motivated by what we have seen so far in the preliminary results. The continued strength in the copper price provides a favourable backdrop to our efforts. The regional rock formations appear to occur in the right configuration and the apparent presence of zinc is a promising indicator of copper/silver mineralisation at depth. We look forward to receiving assay results from the Johannesburg laboratory in the New Year.” Progress at South Ghanzi Portable XRF analysis was completed on the 335 soil samples previously collected at South Ghanzi (04 December 2020). Results from the XRF analysis revealed elevated concentrations of zinc in several key areas. In parallel to this, Kavango’s geophysicists completed reinterpretation work on data gathered from government sponsored regional aeromagnetic surveys. Magnetic data collected by previous exploration companies is also available on “open source”. Thanks to the reinterpretation of this data, Kavango’s exploration team has identified a number of significant anticlines and synclines that occur close to redox boundaries across the South Ghanzi Project*. Anticlinal “domes” often act as trap sites for high-grade copper/silver deposits across the KCB. Their proximity to surface makes them extremely attractive exploration targets. Because zinc in soil anomalies occur close to several anticlines, Kavango’s exploration team collected an additional 127 new soil samples in those areas. A selection of these samples has been sent to a laboratory in Johannesburg for assay testing using the TerraLeach ™ method. Results are expected in the New Year. Together with Power Metals, Kavango expects to conduct airborne electromagnetic geophysics (“AEM”) surveys over prospective sections of the South Ghanzi project in Q1 2021. If results are favourable, the Strategic Joint Venture will work quickly towards test drilling of shallow targets once a 3 dimensional model has been developed. *See geological setting note at bottom of this announcement Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV. For further information please contact: Kavango Resources plc Michael Foster mfoster@kavangoresources.com First Equity (Joint Broker) +44 207 374 2212 Jason Robertson SI Capital Limited (Joint Broker) +44 1483 413500 Nick Emerson Kavango Competent Person Statement The information in this press release that relates to “geological and/or geophysical results” for the South Ghanzi Project is based on information compiled or reviewed by Mr Mike Moles BSc (Geology) & BSocSci (African Studies), a competent person who is a Member of the Australian Institute of Mining & Metallurgy. Mr Moles has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Moles consents to the inclusion in this release of the exploration results for the Project in the form and context in which it appears. Mr Moles is a beneficial shareholder of Kavango Resources plc. NOTES TO EDITORS KAVANGO’S INTERESTS IN THE KALAHARI COPPER BELT Kavango’s exploration licenses in the KCB include: The South Ghanzi Project − 50% working interests in prospecting licenses PL036/2020 and PL037/2020, to be held in a Joint Venture with Power Metal Resources (LSE:POW) (announced 21 September), which cover 1,294km2. The LVR Project − Earning in a 90% interest in prospecting licenses PL082/2018 & PL 083/2018, held in a Joint Venture with LVR GeoExplorers (Pty) Ltd ("LVR"), which cover 1,091km2. THE SOUTH GHANZI PROJECT GEOLOGICAL SETTING The South Ghanzi Project and LVR Project areas include lengthy redox boundaries, close to surface, that represent excellent exploration targets. The redox boundaries were formed several hundred million years ago in active sedimentary basins flooded by shallow seas. Organic matter accumulating on the sea floor created anoxic conditions, which formed a chemical barrier to metal ions rising upwards through the sediments as the basin subsided. The change in chemistry caused the precipitation of metal species (carbonates, sulphides etc.) including copper and silver on or just below the redox boundary. Subsequent tectonic activity folded the sedimentary layers, which was often accompanied by the concentration of metals into the fold hinges. Fold hinges pointing upwards are known as anticlines, while the downward pointing hinges are called anticlines. Several large copper/silver ore deposits have been discovered on the KCB in association with anticlines in areas now held under licence by Sandfire Resources (ASX:SFR) and Cupric Canyon (a privately owned mining development company). These deposits are relatively close to surface and many are amenable to open pit mining operations. Accumulations of metals can be traced along the strike of geochemical reduction–oxidation (“redox”) boundaries (sometimes for many kilometres), since they often contain iron and have a higher magnetic signature than the surrounding rock.
10/11/2020
13:54
skiboy10: MININGMAVEN on: 10 November 2020 Kavango Resources raises £2 million to push forward enormous KSZ opportunity in Botswana (KAV) Kavango Resources (LSE:KAV) has raised £2 million in an oversubscribed placing to push forward across its portfolio of exciting exploration projects in Botswana. The London firm placed 72.7 million shares with institutional, high-net-worth, and retail investors at 2.75p each, also adding on 30-month warrants with a 4.25p exercise price on a one-for-one basis. These new shares will represent approximately 27% of Kavango’s enlarged share capital. The funds will primarily be used to complete “large loop” electromagnetic surveys across Kavango’s project in mining-friendly Botswana’s Kalahari Suture Zone (“KSZ”). It aims to identify high-priority targets for a major 2021 drill campaign. The KSZ is a 450km-longe magnetic anomaly in the southwest of Botswana where Kavango is exploring for copper, nickel, and platinum group metals-rich sulphide ore bodies. It offers a distinctly similar geological setting to the Norilsk mining centre in Siberia, which accounts for 90% of Russia's nickel reserves, 55% of its copper, and virtually all of its platinum group metals. Meanwhile, Kavango also plans to commit working capital to the further exploration of its interests in Botswana’s Kalahari Copper Belt (KCB) as well as its nearby Ditau project. Many of these licences are held within a strategic joint venture with the firm’s London exploration peer Power Metal Resources (LSE:POW). On the placing, Kavango’s chief executive Michael Foster said: "We are very pleased to have received such strong backing from investors, as we now enter an exciting phase of Kavango's development. The Company sought to raise a maximum of £2 million and I am happy to report that the placement was over-subscribed. “We are now well funded to pursue our ambitious exploration plans and unlock what we believe is the Kalahari Suture Zone's ("KSZ") considerable potential. We have taken great strides over recent years to validate our overall exploration hypothesis that the KSZ is host to one or more large Copper-Nickel-PGM deposits. “Over recent weeks we have continued further analysis of the extensive geological data we have compiled and will announce shortly our highest priority target areas." Kavango’s placing comes on the back of expert analysis of exploration data that recently confirmed the potential for a massive, transformational nickel and copper discovery at the Kalahari Suture Zone. Towards the end of last month, the firm confirmed that conditions were right about 180 million ago in the KSZ to create highly concentrated pools of super valuable and sought-after base metals, such as nickel and copper. With this confirmed data in hand, Kavango can move to exploit its virgin territory, which covers 12 licences stretching nearly 7,000km2. Under the Kalahari sands lie vast rock formation (see image, marked in red) where huge pools of molten metal could have been trapped over time. This is a territory that has never been explored. Results from Kavango’s three years of field work and laboratory testing have consistently pointed to a Norilsk-size Nickel project. Now the company has the analysis that seems to conclude it and the funds in place to seize the opportunity on offer. Author: Daniel Flynn https://miningmaven.com/company-news/63-kavango-resources/1097-kavango-resources-raises-2-million-to-push-forward-enormous-ksz-opportunity-in-botswana-kav
10/11/2020
08:33
the chairman elect: Many old faces here but when the HERD turn up on the KSZ "proof of concept" drilling campaign in 2021 expect serious fire works with the KAV share price!
24/10/2020
11:32
skiboy10: So recently companies such as EUA and GGP have hit the one billion market cap so if KAV did something similar on the back of discovering a Norilsk look a like on the KSZ in Botswana then the KAV share price would approx 200 times higher than the close on Friday at around £5.
21/9/2020
13:09
skiboy10: Kavango and Power Metal team up to search for vast metal deposits in Bostwana (KAV, POW) Kavango Resources (LSE:KAV) and Power Metal Resources (LSE:POW) were on the rise on Monday morning after unveiling a new joint venture (“JV”) to explore for large-scale mineral deposits in Botswana. Kavango has transferred four licenses into the new equally-owned and operated company covering 2,680km2 of ground in the country’s highly-prospective Kalahari Copper Belt (“KCB”) Two of these licenses make up the “Ditau project”, which contains ten “ring structures” where Kavango has been exploring for large quantities of rare earth mineralization. The other two are earlier-stage copper prospecting opportunities found directly to the southwest of Sandfire Resources’ TS and A4 Dome copper-silver discoveries. Power Metal has paid Kavango £75,000 in cash to set up the JV. It has also issued it with 6 million POW shares at 1.25p each along with 5 million two-year, 2p warrants. Critically, the company has also committed to spending $150,000 on exploration over two consecutive years. This immediately provides the new JV with the financial firepower needed to begin the next phases of fieldwork at across Ditau and its prospecting licenses. Power Metal said planned work includes detailed regional soil geochemistry and a ground magnetic survey to firm up the position of drill targets. Kavango and Power Metal may also purchase additional prospecting licenses to build on the JV’s strong Botswana positioning. As announced in April this year, Kavango had originally entered a provisional agreement to sell 51% of the Ditau project licenses to Power Metal. However, the companies said on Monday that work has since shown that forming a JV presented a much larger opportunity for both. As Power Metal chief executive Paul Johnson put it: “We are keen to develop more insight into the potential of the Ditau Camp project, and this can only be achieved through proactive ground exploration, which we intend to undertake with our JV partners. “Moreover, the addition of two key Kalahari Copper Belt licences brings the Company into a highly prospective copper territory which, as I have personally experienced, has the potential to deliver considerable discoveries. Again, ground exploration is key, and we intend to be proactive.” Critically, the shared development of the JV licenses also allows Kavango to ramp up efforts at its primary project, the Kalahari Suture Zone (“KSZ”). The explorer’s licenses cover a large portion of this 450km magnetic anomaly, which is entirely covered by desert sand and has never before been explored using modern mining techniques. Over the summer, Kavango has made strong progress in its search for deposits along its KSZ licenses known as “sulphide ore bodies” that are rich with copper, nickel, and platinum group metals (“PGMs”). It is currently in the final stages of analysing a northern section of the geological structure called “Hukuntsi”. Here, it has identified numerous large targets that present “Norilsk-style potential”. Based in Siberia, Norilsk is one of the most important mining centres in the world. It accounts for 90% of Russia’s nickel reserves, 55% of its copper, and virtually all of its PGMs. Kavango has identified several magma plumbing systems across its KSZ licenses that are critical features of the enormous magmatic sulphide deposits responsible for Norilsk’s extensive mineralisation. To better understand these large regional structures, Kavango is now preparing to launch a maiden drilling programme. “With such a large planned operational commitment, the board of Kavango felt the Company would benefit from introducing a new development partner to two licences on the KCB, and at Ditau,” said Kavango. Each of these projects holds significant potential for discovery of substantial mineral deposits. Power Metals is an ambitious exploration company that has assembled a portfolio of global exploration interests. It is the ideal partner to work with Kavango's technical team.” The new JV is currently held privately by Power Metal and Kavango. However, it has been incorporated for a future public listing, expected either a Canadian or British stock exchange. As at writing, Kavango was trading 3.5% higher at 2.5p while Power Metal was sitting at 1.15p. Author: Daniel Flynn https://miningmaven.com/blog/1083-kavango-and-power-metal-team-up-to-search-for-vast-metal-deposits-in-bostwana-kav-pow
21/9/2020
07:18
skiboy10: PRESS RELEASE 21 September 2020 KAVANGO RESOURCES PLC ("Kavango" or "the Company") Botswana Strategic Joint Venture with Power Metals Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the formation of a Strategic Joint Venture with Power Metal Resources Plc (LSE:POW) ("Power Metals"). The Strategic Joint Venture will see the formation of a new, jointly owned, privately held company that is focussed on large-scale mineral exploration projects in Botswana (the "Strategic Joint Venture"). The Strategic Joint Venture will enable Kavango to inject new liquidity into its wider project portfolio, accelerate its plans for more extensive field exploration of the Kalahari Copper Belt Project (KCB) and focus its resources on target evaluation, followed by drilling, in the northern (Hukuntsi) section of the Kalahari Suture Zone (KSZ). Highlights v Formation of new Botswana focussed exploration company - Jointly-owned and operated by Kavango and Power Metals - Privately held initially, with prospecting licenses covering 2,680km(2) of highly prospective land v Kavango to transfer to the Strategic Joint Venture: - Its two rare earths & copper prospecting licenses that cover the Ditau Project - Two wholly owned copper prospecting licenses PL036/2020 and PL037/2020 on the KCB v Power Metals to pay: - GBP75,000 cash to Kavango - The first $75,000 of exploration expenditure in the Strategic Joint Venture over two consecutive years (totalling $150,000, with additional exploration costs to be pro-rated thereafter) - Up to GBP10,000 to cover costs of incorporating the Strategic Joint Venture v Power Metals to issue: - 6,000,000 shares in Power Metals to Kavango at 1.25p per share - 5,000,000 warrants in Power Metals to Kavango, exercisable at 2p per share with a two-year life & 1 for 1 replacement warrants, exercisable at 5p per share over two years v Kavango to initiate immediately the next phases of field exploration on the two KCB licences and at Ditau v The Strategic Joint Venture will be incorporated to enable a future separate listing, expected to be on a Canadian or British stock exchange. Michael Foster, Chief Executive Officer of Kavango Resources, commented: "We are delighted to confirm our Strategic Joint Venture with Power Metals. Over the course of completing the due diligence for the sale of the interest in our Ditau Project it became clear there was a much greater opportunity for both parties. Thanks to our extensive experience of working in Botswana, Kavango has been able to secure large-scale exploration projects. Each of these holds a great deal of potential, but our primary focus has always been on the KSZ. Now that we have confirmed the Strategic Joint Venture with Power Metals, we can leverage the expertise and energy of the two companies to drive forward our current interests on the KCB. We expect this will lead to a significant acceleration of our exploration efforts across both areas and we look forward to reporting our progress." Background & rationale to the Strategic Joint Venture Further to the announcement on 15 April, when Kavango announced it had entered into a provisional agreement to sell a 51% interest in the Ditau Project to Power Metals, the Company has now entered into a much more comprehensive agreement. Power Metals' due diligence into Ditau was interrupted by the COVID-19 pandemic. However, over recent months it became increasingly clear to the directors of Kavango and Power Metals that there was a more advantageous opportunity for both companies than originally anticipated. Both sets of directors have extensive experience of operating mineral exploration projects in Botswana and the two companies felt they could leverage one another's expertise and energy to great effect. In parallel to this, Kavango has made significant progress over the summer developing its project on the KSZ. The Company is in the final stages of analysis work on the northern (Hukuntsi) section of the KSZ. Given the likely number and scale of these "Norilsk style" targets, Kavango is readying itself to prepare for a drill campaign to test the large regional structures it has identified on the KSZ. With such a large planned operational commitment, the board of Kavango felt the Company would benefit from introducing a new development partner to two licences on the KCB, and at Ditau. Each of these projects holds significant potential for discovery of substantial mineral deposits. Power Metals is an ambitious exploration company that has assembled a portfolio of global exploration interests. It is the ideal partner to work with Kavango's technical team. Kavango welcomes the opportunity to work closely with Power Metals to accelerate exploration across two KCB prospecting licenses and at Ditau. Terms of the Strategic Joint Venture Kavango and Power Metals will own the Strategic Joint Venture equally and will be joint operators. Kavango will transfer into the Strategic Joint Venture: - Its two prospecting licenses that make up the Ditau Project. These licenses cover 1,386km(2) of prospective land for rare earths and copper. The Company has identified 10 carbonatite-like 'ring structures' here that represent sizeable exploration targets. - Its two wholly owned prospecting licenses PL036/2020 and PL037/2020 on the KCB. These licenses cover 1,294km(2) and are highly prospective for copper/silver mineralisation. Power Metals will invest into the Strategic Joint Venture: - The first $75,000 of exploration expenditure over two consecutive years, totalling $150,000. - Up to GBP10,000 in set up costs, to cover the incorporation of the vehicle in line with local regulations and an appropriate holding company structure. Additional exploration expenditure incurred by the Strategic Joint Venture, beyond the initial investment from Power Metals, will be on a pro-rated, "fund or dilute" basis. To complete the transaction, Power Metals will: - Pay GBP75,000 to Kavango - Issue 6,000,000 shares in Power Metals to Kavango, at an issue price of 1.25p per share (the "Acquisition Warrants") - Issue 5,000,000 warrants in Power Metals to Kavango, exercisable over 2 years at an exercise price of 2p per share Should the Power Metals Volume Weighted Average Share Price ("VWAP") meet or exceed a price of 7.5p for five consecutive trading days, Kavango will then have 14 calendar days to exercise the Acquisition Warrants and make payment to Power Metal or the Acquisition Warrants will be cancelled. Should Kavango exercise the Acquisition Warrants within 12 months of issue, they will receive 1 for 1 replacement warrants to subscribe for Power Metal shares, exercisable over an additional two years at an exercise price of 5p per share (the "Super Warrants"). Should the Power Metal Volume Weighted Average Share Price ("VWAP") meet or exceed a price of 10.0p for five consecutive trading days Kavango will then have 14 calendar days to exercise the Super Warrants and make payment to Power Metal or the Super Warrants will be cancelled. Plan for the Strategic Joint Venture The vision for the Strategic Joint Venture is to create a Botswana-focussed minerals exploration company, which will ultimately seek a separate listing on either a Canadian or British stock exchange. The immediate aim for this new company will be to make rapid progress in the field, across its portfolio of large-scale exploration projects. The new company may also seek to acquire additional prospecting licenses, building on the good standing its directors have in Botswana Kavango will immediately initiate the next phases of field exploration at its KCB prospecting licenses and at Ditau. Further information in respect of the Company and its business interests is provided on the Company's website at www.kavangoresources.com and on Twitter at #KAV. For further information please contact: Kavango Resources plc Michael Foster mfoster@kavangoresources.com SI Capital Limited (Broker) +44 1483 413500 Nick Emerson Note to Editors: Kavango's 100% subsidiary in Botswana, Kavango Minerals (Pty) Ltd, is the holder of 12 prospecting licences covering 8,324.7km(2) of ground, including 10 licences over a significant portion of the 450km long KSZ magnetic anomaly in the southwest of the country along which Kavango is exploring for Copper-Nickel-PGM rich sulphide ore bodies. This large area, which is entirely covered by Cretaceous and post-Cretaceous Kalahari Sediments, has not previously been explored using modern techniques. The area covered by Kavango's KSZ licences displays a geological setting with distinct similarities to that hosting World Class magmatic sulphide deposits such as those at Norilsk (Siberia) and Voisey's Bay (Canada). The Norilsk mining centre is about 2,800km northeast of Moscow and accounts for 90% of Russia's nickel reserves, 55% of its copper and virtually all of its PGMs. Kavango's licenses in the KSZ display a geological setting with distinct geological similarities to the magmatic sulphide deposits at Norilsk. Magma plumbing systems are a key feature of these deposits. Kalahari Copper Belt (KCB) The KCB Project is located within an area of newly discovered sediment-hosted copper deposits, such as Cupric Canyon's Zone 5 deposit and MOD's T3 deposit, both of which are now being developed as mining operations. The KCB extends 1,000kms by 250kms from NE Botswana to central Namibia. Kavango has working interest in two separate Joint Ventures in the KCB. The first Joint Venture is with LVR GeoExplorers (Pty) Ltd ("LVR") and covers two PLs, PL082/2018 & PL 082/2018, which cover 1,091km(2) and are not part of the Strategic Joint Venture with Power Metals The LVR PLs are strategically located in this belt and therefore represent an attractive exploration target. PL 082/2018 lies 30km north of MOD Resources' T3 mine development and is completely surrounded by MOD/Metal Tiger/Sandfire PLs including their T5, T6, T9, T10, T14 and T15 targets. The PL lies astride the main Ghanzi - Maun tarred highway. PL 083/2018 is close to the Namibian border south of the Trans-Kalahari Highway and adjacent to a block of PL's held by Kopore Metals Limited. The second Joint Venture is with Power Metals and covers two PLs PL036/2020 and PL037/2020, which cover 1,294km(2) and lie in a prospective area immediately south of the District capital of Ghanzi: No modern exploration has been carried out on the area covered by these prospecting licenses. Ditau Ditau comprises of two prospecting licences (PLs), which cover an area of 1,386km(2) . Kavango originally identified a magnetic anomaly at the first of these two licenses, which the directors believed presented an attractive exploration target. In February 2019 the Company drilled two holes into the "original" Ditau magnetic anomaly (the "Ditau Camp Prospect"). Assay and whole rock geochemistry results from these two holes, released in early August, demonstrated the presence of an extensive zone of highly altered Karoo sediments sitting above a mafic intrusive body. The alteration extended to over 300m in depth in both holes, which were 1.8km apart. The geochemistry obtained from the drill core suggested that the alteration was due to "fenitization", a type of extensive alteration associated with alkali magmatism and carbonatites. Carbonatites are the major global source of Rare Earth Elements (REEs). Economic Potential of Carbonatites Until recently carbonatites were regarded as unusual and academically interesting geological bodies but significant interest was only generated once the demand for REEs was established (in the last few years). Hitherto many carbonatites were mined for their phosphate content (fertilizer), or for economic deposits of Niobium, Strontium, Uranium, Thorium, Magnetite, Barium and Vermiculite. One of the world's most productive carbonatites, Palabora, has been in production continuously since 1953 and is South Africa's principal source of copper. About one out of nine carbonatites world-wide have been mined commercially (Simandi & Paradis 2018). Both the market and production of REE's is dominated by China who are also leading the research into the technological application of these metals. Western countries have recently become alarmed about the strategic advantage that China now exerts over REE technology such that new deposits of these elements are in high demand.
14/8/2020
19:11
riley9: If the KAV share price gets to a 4 with two zeros after it and I retire. Along with many others here I suspect.
Kavango Resources share price data is direct from the London Stock Exchange
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