Kavango Resources
KAV · Main Market · Basic Resources · mcap £31m · 0.6p 5 open situations →
Open · 5
Hillside gold development and plants
Hillside build-out continues. The 50tpd pilot CIP plant was guided for Q1 2026 commissioning; processing began on 1 July 2026 and was announced on 3 Aug 2026. The 23 Sep 2026 interims show H1 revenue of US$2.0m, mostly from treating artisanal miners' ore, and own Bill's Luck ore only began late in the period. First gold and the end of commissioning are still to come.
- Processing start
- 1 July 2026, 69% average utilisation 18-28 July 2026 23 Sep 2026 ↗
- Utilisation
- 69% average capacity utilisation, 18-28 July 2026 3 Aug 2026 ↗
- Gold adsorption
- Loaded carbon testing confirms gold is adsorbed in the CIL circuit 3 Aug 2026 ↗
- Next milestone
- Blending ROM ore into feed; first gold and end of commissioning, no dates given 23 Sep 2026 ↗
- Expected recoveries
- 90-93% under commercial plant conditions 23 Sep 2026 ↗
- On-site laboratory
- Bottle roll, fire assay and AAS capabilities established at Hillside 3 Aug 2026 ↗
Next: Blend ROM ore into feed; first gold and end of commissioning
- 23 Sep 2026 Commissioning under way; revenue still from artisanal ore
- 3 Aug 2026 Plant installed; commissioning under way since 1 July
- 6 Mar 2026 Funded for expansion; commissioning pending
- 9 Feb 2026 CIP commissioning guided for Q1 2026
Nara Gold Project acquisition
Kavango exercised its Nara option on 27 June 2025, completion slipped past 27 February 2026, the Seller was declared in default on 2 March 2026, and a Deed of Variation was signed on 16 April 2026. The 23 Sep 2026 interims state total consideration of US$3,960,000 for 45 claims. Completion has still not happened and formalities are ongoing.
- Funding
- Part of c.US$13.5m total resources, earmarked for Nara acquisition and any associated litigation 16 Apr 2026 ↗
- Board stance
- Both Parties remain committed to completion as soon as possible; legal formalities to be finalised 19 Mar 2026 ↗
- Deed of Variation
- Signed 16 April 2026 on call option agreement dated 23 June 2023 23 Sep 2026 ↗
- Completion
- Anticipated shortly; no date stated 16 Apr 2026 ↗
- Consideration
- US$3,960,000 total for 45 claims 23 Sep 2026 ↗
- Romjack
- Parties discussing possible sale and purchase of operating company Romjack Mining (Pvt) Ltd 16 Apr 2026 ↗
Next: Complete final documentation and release escrow to Seller
- 23 Sep 2026 Completion formalities ongoing
- 16 Apr 2026 Deed of Variation signed; completion anticipated shortly
- 19 Mar 2026 Completion extended again; no new date
- 6 Mar 2026 Seller default; funding earmarked for acquisition and litigation
Purebond Limited selling down
Next: 55.8297% still held
- 18 Jun 2026 55.8297%
- 5 Feb 2025 70.201%
UK and Zimbabwe subscription fundraise
On 6 March 2026 Kavango announced it had raised about US$8.4m via subscriptions in Zimbabwe (about US$4.7m) and the UK (£2.8m) at £0.01 per share, a stated 33% premium to the 5 March close. With existing cash and committed funds, resources total about US$13.5m. Chairman and interim CEO Peter Wynter Bee subscribed for 20m shares.
- Size
- c.US$8.4m: VFEX c.US$4.7m plus UK £2.8m 6 Mar 2026 ↗
- Price
- £0.01 per share 6 Mar 2026 ↗
- Premium
- c.33% to mid-market price at close on 5 March 2026 6 Mar 2026 ↗
- New shares
- 629,991,138 new Ordinary Shares 6 Mar 2026 ↗
- Director
- Peter Wynter Bee subscribed for 20,000,000 shares 6 Mar 2026 ↗
- Admission
- 8.00 am on or around 16 March 2026 6 Mar 2026 ↗
- 6 Mar 2026 Raised; admission expected on or around 16 March
Kalahari Copper Belt JV search
Next: update shareholders as appropriate
- 15 Dec 2025 Early-stage evaluation of strategic options
Company filings. Not investment advice.