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Kavango Resources ( (GB:KAV) ) has shared an update.
Kavango Resources has exercised its option to acquire 100% of the Nara Gold Project in Zimbabwe, enhancing its portfolio in the Filabusi Greenstone Belt. To support this acquisition and further development, the company secured a $5 million subscription commitment from Purebond Limited, which will aid in its upcoming listing on the Victoria Falls Stock Exchange. This strategic move positions Kavango to generate long-term free cash flow and pursue ambitious production targets, leveraging its debt-free status and existing projects.
More about Kavango Resources
Kavango Resources PLC is a Southern Africa-focused company specializing in metals exploration and gold production. The company is primarily involved in exploring gold deposits in Zimbabwe, targeting both open-pit and underground mining opportunities, with a focus on modern mechanized mining and processing. Kavango owns significant projects in the Filabusi Greenstone Belt, including the Hillside and Nara Gold Projects.
Average Trading Volume: 2,472,858
Technical Sentiment Signal: Buy
Current Market Cap: £33.54M
For detailed information about KAV stock, go to TipRanks’ Stock Analysis page.