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Kavango Resources ( (GB:KAV) ) has shared an update.
Kavango Resources has successfully raised £2.2 million through a direct subscription and placing of new ordinary shares, with significant contributions from its major shareholder, Purebond Limited, and company director Peter Wynter Bee. The funds will be used to advance the company’s mining projects in Zimbabwe, including the development of a 250tpd gold mining and processing capacity at the Hillside Gold Project, as well as further exploration and construction efforts at the Bill’s Luck gold mine. This move is part of Kavango’s strategy to demonstrate Zimbabwe’s potential as a mining-friendly jurisdiction, which could have positive implications for the company’s market positioning and stakeholder engagement.
More about Kavango Resources
Kavango Resources PLC is a metals exploration and gold production company focused on Southern Africa. The company is involved in exploring and developing mining projects, with a particular emphasis on gold mining operations in Zimbabwe.
Average Trading Volume: 1,999,907
Technical Sentiment Signal: Buy
Current Market Cap: £34.67M
For detailed information about KAV stock, go to TipRanks’ Stock Analysis page.