Kavango Resources Secures $5 Million Investment for Zimbabwe Mining Projects

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

Kavango Resources has secured a US$5 million convertible loan note facility from a consortium of Zimbabwean pension funds to support its mining operations in Zimbabwe. This investment, which will be used for mine development and the construction of a gold processing plant, marks a significant step in Kavango’s strategy to promote local shareholder ownership and underscores Zimbabwe’s openness to business. The funds will be drawn in three tranches and are convertible into shares on the Victoria Falls Stock Exchange, enhancing Kavango’s market presence and stakeholder engagement.

More about Kavango Resources

Kavango Resources PLC is a mine development and metals exploration company focused on Southern Africa. The company is primarily engaged in exploring gold deposits in Zimbabwe, targeting both open-pit and underground mining opportunities. Kavango’s projects include the Hillside and Nara projects, with a focus on modern mechanized mining to bring these deposits into production.

Average Trading Volume: 23,200

Technical Sentiment Signal: Buy

Current Market Cap: $31.34M

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