Kavango Resources secures additional capital

Published: 12 hours ago

Kavango Resources plc (LSE: KAV, VFEX: KAV.VX), a Southern Africa-focused metals exploration and gold production company, has announced a successful additional fundraising round following its recent £2.2 million UK placing and US$4.5 million VFEX subscription.

The company said it has raised a further £150,000 in the UK and US$129,035.24 in Zimbabwe, underscoring sustained investor confidence in its growth strategy and regional projects. In total, 24,557,448 new ordinary shares have been issued - comprising 15,000,000 shares at £0.01 each in the UK and 9,557,448 shares at the equivalent price in Zimbabwe.

Kavango stated that the fresh capital injection enhances its financial position and aligns with its long-term strategy to expand its exploration and production footprint across Southern Africa.

The newly issued UK shares will be admitted to the Equity Shares (Transition) segment of the Financial Conduct Authority's Official List and will trade on the London Stock Exchange (LSE). Correspondingly, the VFEX shares will first be listed on the LSE before being transferred to a branch register in Zimbabwe, where they will trade on the Victoria Falls Stock Exchange (VFEX).

Both the UK and VFEX admissions are scheduled to take effect, with trading expected to commence at 8:00 a.m. on or around 16 October 2025.

Proceeds from the latest fundraising will be directed towards strengthening the company's working capital and advancing its exploration and mine development programmes across Southern Africa. This follows Kavango's announcement on 10 September 2025, where it detailed plans to utilise newly raised capital to accelerate growth and operational targets.

Kavango Resources plc focuses on the exploration and development of copper, nickel, and gold projects in Southern Africa. Through strategic investment and resource development, the company aims to unlock long-term value and position itself as a key player in the region's minerals sector.
- NewZimbabwe

Tags: Kavango,