Kavango Resources
Primary ticker: LON:KAV
Stage of development: Exploration, Development, Production
Primary minerals: Gold, Copper
Project to promote: Gold mining & exploration Zimbabwe, copper exploration Botswana
Project location: Zimbabwe & Botswana
Website: www.kavangoresources.com
Kavango Resources is a metals exploration and mining development company with projects in Zimbabwe (gold) and Botswana (copper). In Zimbabwe, Kavango has moved into production and is seeking to build a >10Moz business through consolidation. In Botswana, the Company has the largest remaining independent land package prospective for copper/silver deposits in the Kalahari Copper Belt
Cash: GBP 8M
Debt: NIL
Major shareholders:
Purebond Limited 58%
Directors & Management 8%
Financials
Management Profile
Ben Turney – CEO
I joined the board of Kavango in January 2021 and became CEO in June of that year. Since then, I overseen our extensive exploration and drilling across our projects, putting us in a strong position to make a major discovery. I led the move into Zimbabwe and have permanently relocated to that country to lead the business from the ground. I have raised >£27m for Kavango
Dave Catterall – Head of Exploration
Dave joined Kavango in late 2022. Dave has >35 years experience in copper and precious metals exploration, predominantly in southern Africa. Dave led the exploration team that discovered the underground opportunity at Zone 5 in the Kalahari Copper Belt in Botswana that was sold to MMG in 2023 for $1.85bn.
What is your rationale for taking part in 121 Mining Investment?
We are keen to attract new shareholders to the company, as well as to potential potential JV partners to help us maximise the opportunity in our highly prospective land package.
What recent news would you like to highlight to investors attending?
We raised £10m just before Christmas to finance our plans in 2025.
The following announcements describe our planned work in Zimbabwe:
Exploration drilling at Prospect 4 – we believe we have a high-grade underground mine here, which we want to bring into production through a spiral decline
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/xl4e5gr
Resource drilling at Prospect 3 – we believe we have an open pit mine that we plan to bring into production through a heap leach
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/w97j1px
Exploration drilling at Nara – we have an option on this project, exercisable by June 2025
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/xzg053w
The following announcement gives our latest progress in Botswana:
https://polaris.brighterir.com/public/kavango_resources_plc/news/rns/story/x41d30x
What are your key goals for the next 3, 6 and 12 months?
3 Months:
Complete resource drilling at Prospect 3 in Zimbabwe and exploration drilling at Prospect 4 in Zimbabwe
Complete the KCB drill programme in Botswana
6 Months:
Commission an open pit mine at Prospect 3 and an underground mine at Prospect 4 in Zimbabwe
12 Months:
Bring Prospects 3 & 4 into production
Make a discovery in the KCB
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Financing – thanks to the support of Purebond, we are one of the best financed companies in the sector
Drilling – we have invested into Equity Drilling Zimbabwe, who are led by a highly experienced team. We own 45% of ED Zim.
Access to technology – our strategic partnerships have guaranteed us access to the best remote sensing technology available in southern Africa
Operational – We have recruited excellent people in Zimbabwe and Botswana with a high level of technical expertise and experience
What do you think makes your company such a compelling investment?
We are a well financed exploration and mining development business with a high chance of moving into significant free cash flow generation over 2025 and with significant blue sky exploration upside.
What are the top 3 key investor takeaways?
1) We have a highly prospective land package in Zimbabwe and Botswana
2) We use modern technology in an integrated exploration strategy that is primed for acceleration
3) We are on the cusp of becoming a profitable exploration and mining development company (12 month target)