Pennine Petroleum (TSE:PNN) has released an update.
Pambili Natural Resources Corporation is set to strengthen its financial and strategic position by converting a US$310,000 loan from Kavango Resources into equity, making Kavango a significant shareholder with a 14% stake. This move, approved by the TSX Venture Exchange, supports Pambili’s plans to advance its Golden Valley Mine project, aiming to restore full production and explore Zimbabwe’s gold potential. The partnership between the two companies underscores their shared vision to explore the region’s untapped mineral wealth.
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