Kavango declares maiden JORC resource at Bill’s Luck to drive Hillside gold growth

Kavango Resources ( (GB:KAV) ) has provided an announcement.

Kavango Resources has published a maiden JORC-compliant mineral resource estimate for the historic Bill’s Luck Gold Mine at its Hillside Gold Project in Zimbabwe, outlining 33,900 ounces of gold at an average grade of 2.68 grams per tonne, reported at a 0.5 g/t cut-off and a reference gold price of $3,000 per ounce. The resource, which lifts Hillside’s total JORC-compliant inventory to 52,900 ounces, is expected to underpin mine planning and development, support the imminent commissioning of a 50-tonnes-per-day Carbon-In-Pulp plant, and provide upside through further drilling as the deposit remains open at depth and along strike.

Bill’s Luck, mined intermittently since the early 20th century, has been reinterpreted as a structurally complex, high-potential shear-zone hosted system, with drilling confirming multiple mineralised “reef” structures beyond the currently mined Main Reef. Kavango’s technical team will use the new model and extensive drilling and sampling database to refine mining methods, reduce dilution, and evaluate additional small-scale trial pits at the nearby Nightshift project, aiming to boost near-term gold output and strengthen its position in Zimbabwe’s emerging gold sector.

The most recent analyst rating on (GB:KAV) stock is a Hold with a £0.83 price target. To see the full list of analyst forecasts on Kavango Resources stock, see the GB:KAV Stock Forecast page.

Spark’s Take on GB:KAV Stock

According to Spark, TipRanks’ AI Analyst, GB:KAV is a Neutral.

The score is held down primarily by weak financial performance—large operating losses and significant cash burn despite only early-stage revenue—partly offset by a balance sheet with positive equity and moderate leverage. Technicals are mixed with neutral momentum and short-term stabilization, while valuation is difficult to support due to a negative P/E and no dividend yield provided.

To see Spark’s full report on GB:KAV stock, click here.

More about Kavango Resources

Kavango Resources is a Southern Africa focused metals exploration and gold production company listed in London and on the Victoria Falls Stock Exchange. The group is advancing a portfolio of gold assets in Zimbabwe, including the Hillside Gold Project, with a strategy to redevelop historic mines and feed a new Carbon-In-Pulp processing plant in a high gold price environment.

YTD Price Performance: 17.24%

Average Trading Volume: 1,965,364

Technical Sentiment Signal: Hold

Current Market Cap: £31.76M

Find detailed analytics on KAV stock on TipRanks’ Stock Analysis page.