Published: 07 July 2025

London-listed Kavango Resources has exercised its option to acquire 100% of the Nara gold project, in Zimbabwe.

Kavango entered the option to acquire Nara in June 2023.

To fund the Nara acquisition and provide working capital for development, Kavango has received a written commitment from Purebond to subscribe for the equivalent of $5-million worth of new ordinary shares in the company.

The subscription is expected to form part of the fundraise associated with the company's forthcoming listing on the Victoria Falls Stock Exchange.

Kavango intends to release its technical and commercial appraisal of Nara in the coming month.

"Once we have completed the Nara acquisition, Kavango will own 100% of two significant gold mining projects in the Filabusi greenstone belt. Both projects are fully permitted mining leases that are held in perpetuity by production. This puts Kavango in a strong position to generate free-cash flow over the long term," CEO Ben Turney highlights.

"Thanks to Purebond's support, we have built our business through equity investment and have no debt. Our debt-to-equity ratio is zero and our hope is shareholders will enjoy good returns over the coming years," he adds.

Kavango has two projects on the Filabusi greenstone belt, Hillside and Nara.

At the Hillside gold project, Kavango is working towards an initial production target of 250 t/d, over the next 12 months.

"Now that we are about to add Nara to our portfolio, we can pursue an even more ambitious plan," Turney says. 
- minimgmx

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