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