Kavango Resources (KAV): Nara Gold Project acquisition

This situation live

£31m · 0.6p · −7% since the first step

6 Mar 2026 · Seller default; funding earmarked for acquisition and litigation · −14% until the next step the acquisition of Nara and any associated litigation expenses in order to inter alia complete such acquisition

Large acquisition / reverse takeover

Nara Gold Project acquisition

Completion formalities ongoing

Next: Complete final documentation and release escrow to Seller

Every step · 6

9 Dec 2025 Option exercised; completion deadline extended – Kavango and the Seller (the "Parties") have agreed to extend completion to 27 February 2026, to facilitate finalisation of the legal formalities. ↗
2 Mar 2026 Seller defaulted; legal claims planned – Whilst the Company embarks on claims against Mr Bowman and his operating company Romjack Mining (Private) Limited ("Romjack") ↗
6 Mar 2026 Seller default; funding earmarked for acquisition and litigation – the acquisition of Nara and any associated litigation expenses in order to inter alia complete such acquisition ↗
19 Mar 2026 Completion extended again; no new date – Further to the announcement on 2 March 2026, the Parties have agreed to extend completion, so as to work towards enabling the finalisation of the legal formalities. ↗
16 Apr 2026 Deed of Variation signed; completion anticipated shortly – Kavango has transferred the balance of the consideration into an escrow account to be transferred to the Seller upon Completion of the final documentation. ↗
23 Sep 2026 Completion formalities ongoing – Deed of Variation signed in respect of the call option agreement dated 23 June 2023 to acquire 45 claims for a total consideration of US$3,960,000, to... ↗

What is happening

Kavango Resources: Nara Gold Project acquisition – Completion formalities ongoing. ['Completion formalities ongoing']

In short: 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.
Announced: 9 Dec 2025 · Option exercised; completion deadline extended
Latest: 23 Sep 2026 · Completion formalities ongoing
Funding: Part of c.US$13.5m total resources, earmarked for Nara acquisition and any associated litigation
Board stance: Both Parties remain committed to completion as soon as possible; legal formalities to be finalised
Deed of Variation: Signed 16 April 2026 on call option agreement dated 23 June 2023
Completion: Anticipated shortly; no date stated
Consideration: US$3,960,000 total for 45 claims
Romjack: Parties discussing possible sale and purchase of operating company Romjack Mining (Pvt) Ltd
Status: Formalities for completion ongoing as at 23 September 2026
Escrow: Balance transferred into escrow, released to Seller on completion of final documentation

Complete final documentation and release escrow to Seller.

From the company's own announcements. Not investment advice.

Briefing Pro

What it does, how it got here, what management promised and delivered – written from its own announcements.

Also at Kavango Resources 4 open