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Kavango Resources
(LSE:KAV)
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Rating:46Neutral
Price Target:
0.66 p
▼(-15.13% Downside)
Action:Reiterated
Date:05/10/26
The score is held down primarily by weak financial performance driven by large and widening losses plus heavy cash burn, despite a stronger balance sheet with no reported debt. Technical signals are broadly neutral and do not provide a strong offset. Valuation remains challenged because earnings are negative and dividend support is not evident in the provided data.
Positive Factors
Balance sheet resilience
A stronger equity base and the elimination of reported debt materially lower insolvency risk and improve financial flexibility. Over 2-6 months this increases the company's runway for exploration programs and optionality to fund projects from equity rather than costly debt.
Negative Factors
Severe cash burn
Persistently large negative operating cash flows indicate the company cannot self-fund exploration and development activities. Over several months this heightens reliance on external financing, increasing dilution or deal-dependence and constraining sustained project progress.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet resilience
A stronger equity base and the elimination of reported debt materially lower insolvency risk and improve financial flexibility. Over 2-6 months this increases the company's runway for exploration programs and optionality to fund projects from equity rather than costly debt.
Read all positive factors
Kavango Resources (KAV) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£30.55M
Dividend YieldN/A
Average Volume (3M)1.40M
Price to Earnings (P/E)―
Beta (1Y)0.53
Revenue Growth271.10%
EPS Growth20.45%
CountryUK
Employees107
SectorBasic Materials
Sector Strength58
IndustryIndustrial Materials
Share Statistics
EPS (TTM)>-0.01
Shares Outstanding4,525,261,000
10 Day Avg. Volume2,590,708
30 Day Avg. Volume1,403,294
Financial Highlights & Ratios
PEG Ratio0.13
Price to Book (P/B)1.41
Price to Sales (P/S)17.22
P/FCF Ratio-2.39
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Kavango Resources Business Overview & Revenue Model
Company Description
Headquartered in London, United Kingdom, Kavango Resources Plc is an exploration company, operating through its subsidiaries, focused on uncovering valuable metal deposits across Botswana. The firm actively searches for a range of resources, inclu...
How the Company Makes Money
null...
Kavango Resources Financial Statement Overview
Summary
Income Statement
12
Very Negative
Balance Sheet
58
Neutral
Cash Flow
18
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.75M | 445.00K | 0.00 | 0.00 | 0.00 |
| Gross Profit | -10.27M | -39.00K | 0.00 | 0.00 | 0.00 |
| EBITDA | -13.01M | -8.40M | -3.15M | -2.27M | -197.00 |
| Net Income | -15.25M | -8.66M | -3.29M | -2.21M | -1.74M |
Balance Sheet | |||||
| Total Assets | 23.17M | 19.01M | 19.64M | 13.27M | 8.09M |
| Cash, Cash Equivalents and Short-Term Investments | 4.70M | 1.52M | 3.77M | 2.27M | 2.52M |
| Total Debt | 265.00K | 4.76M | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 1.63M | 5.47M | 1.28M | 571.00K | 299.00K |
| Stockholders Equity | 21.36M | 13.35M | 18.17M | 12.70M | 7.79M |
Cash Flow | |||||
| Free Cash Flow | -12.61M | -9.54M | -5.86M | -1.63K | -1.58K |
| Operating Cash Flow | -11.67M | -5.77M | -2.28M | -1.56K | -1.33K |
| Investing Cash Flow | -1.89M | -4.96M | -4.02M | -2.60M | -2.55M |
| Financing Cash Flow | 17.13M | 8.52M | 7.34M | 4.33M | 4.02M |
Kavango Resources Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
54 Neutral | £13.66M | 7.81 | ― | ― | ― | ― | |
48 Neutral | £48.81M | 0.53 | 0.25% | ― | ― | 44.90% | |
46 Neutral | £30.55M | -1.98 | -73.36% | ― | 271.10% | 20.45% | |
44 Neutral | £20.46M | -9.25 | -9.71% | ― | ― | 68.07% | |
43 Neutral | £18.06M | -2.24 | -43.43% | ― | ― | 76.95% | |
41 Neutral | £61.51M | -0.23 | -76.15% | ― | ― | ― |
* Basic Materials Sector Average
GB:KAV
Kavango Resources
0.68
-0.43
-38.64%
GB:KDNC
Cadence Minerals
4.90
3.20
188.24%
GB:POW
Power Metal Resources Plc
12.10
-2.15
-15.09%
GB:ZNWD
Zinnwald Lithium Plc
8.86
3.76
73.73%
GB:CRTM
Critical Metals Plc
7.75
4.25
121.43%
GB:CTL
CleanTech Lithium PLC
4.98
-1.03
-17.08%
Kavango Resources Corporate Events
Business Operations and Strategy
Kavango Resources appoints SP Angel as new corporate broker
Positive
Jul 1, 2026
Kavango Resources has appointed S.P. Angel Corporate Finance as its new corporate broker to strengthen its engagement with investors. The move is intended to support the advancement of its Southern African metals exploration and development portfo...
Regulatory Filings and Compliance
Kavango Resources Updates Total Voting Rights and Share Count
Neutral
Jun 30, 2026
Kavango Resources has confirmed that, as of 10 June 2026, it has 4,525,261,341 ordinary shares in issue, all carrying one voting right each. Of these, 953,802,800 shares are secondary listed on the Victoria Falls Stock Exchange, and the company ho...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Kavango Raises US$1.9m to Expand Zimbabwe Gold Operations
Positive
Jun 5, 2026
Kavango Resources has raised approximately US$1.9 million through a subscription of 122,625,215 new shares, placed with Dendere Asset Management and three Zimbabwean pension funds at £0.0115 per share. The new shares will be admitted to tradi...
Regulatory Filings and Compliance
Kavango Resources Confirms Total Voting Shares in Issue
Neutral
Jun 1, 2026
Kavango Resources has confirmed that, as of 15 May 2026, it has 4,402,636,126 ordinary shares in issue, all carrying one vote each. Of these, 831,177,585 ordinary shares are secondary listed on the Victoria Falls Stock Exchange, and the company ho...
Business Operations and StrategyShareholder Meetings
Kavango shareholders back all AGM resolutions, renewing capital-raising powers
Positive
Jun 1, 2026
Kavango Resources has reported that all seven resolutions at its 1 June 2026 annual general meeting in London were approved by shareholders on a show of hands. Voting turnout was robust, with proxy instructions representing about 75.6% of the comp...
Business Operations and StrategyExecutive/Board Changes
Kavango Resources Overhauls Board and Finance Leadership Ahead of Next Growth Phase
Positive
May 29, 2026
Kavango Resources has announced a planned overhaul of its board and senior management as it prepares for its next phase of development and expands operations in Zimbabwe. Interim CEO and Non-Executive Chairman Peter Wynter Bee will leave the board...
Business Operations and Strategy
Kavango Reports Strong Metallurgical Results at Zimbabwe Hillside Gold Project
Positive
May 20, 2026
Kavango Resources has completed a comprehensive metallurgical testwork programme on ore from its Hillside Gold Project in Zimbabwe, delivering highly positive results for the design of its 50 tonnes-per-day carbon-in-leach plant and a planned expa...
Business Operations and StrategyDelistings and Listing ChangesPrivate Placements and Financing
Kavango boosts pension fund stake with new share issue and reinforces dual listing
Positive
May 11, 2026
Kavango Resources will issue 36,596,469 new ordinary shares at £0.01 each to Comarton Consultants and six pension funds under the Comarton Managed Pension Funds Investments Consortium, using a Bank of England spot rate of £1 = $1.3382. T...
Business Operations and StrategyFinancial DisclosuresRegulatory Filings and ComplianceShareholder Meetings
Kavango Resources Publishes 2025 Annual Report and Sets June AGM
Neutral
Apr 29, 2026
Kavango Resources has published its Annual Report and Financial Statements for the year ended 31 December 2025, which are now available on the company’s website, and confirmed that its Annual General Meeting will be held in London on 1 June ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.