REG - Kavango Resources - Director Appointments & Board Changes

Kavango ResourcesAnnouncement

30/05/2024 07:00

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RNS Number : 4129Q  Kavango Resources PLC  30 May 2024

30 May 2024

KAVANGO RESOURCES PLC

("Kavango" or "the Company")

Director Appointments & Board Changes

 

Kavango Resources plc (LSE:KAV), the Southern Africa focussed metals
exploration company, is pleased to announce a restructuring of the board to
meet the future commercial needs of the Company.

Donald McAlister and Alexandra (Alex) Rose Gorman join the Board and Peter
Wynter Bee assumes a new role as Deputy Chairman. Donald brings years of
experience of operating in Zimbabwe and raising funds for many projects. He
was a founding director and remains on the board of Tertiary Minerals plc.
Alex is currently a Mining Analyst at Peel Hunt. Alex originally trained as a
geologist and worked previously with Dave Catterall in Botswana.

As part of the restructuring, Brett Grist and Jeremy Brett will step down from
the Company's board of directors with immediate effect. Brett will continue in
his roles as Kavango's Chief Operating Officer and Company Secretary, while
Jeremy will continue to in his role as a Senior Geophysical Consultant to the
Company.

David Smith, Chairman of Kavango Resources, commented:

"As Kavango moves towards substantial revenue generation, we have decided to
restructure the board with a more commercial and strategic focus. Our CEO, Ben
Turney, has moved to Zimbabwe to lead the business there. This is already
yielding significant results. In March, Kavango announced its maiden gold
resource and moved into gold production. This represents a step-change for the
business.

I would like to thank both Brett and Jeremy for their contributions during
their time spent on Kavango's board. They have been instrumental in building
the Company's strong presence in Botswana and Zimbabwe. Brett has done much to
bolster our operational infrastructure and will carry on in his executive
role.  Jeremy has played a key role in modernising and sharpening Kavango's
exploration capabilities and has brought in key senior specialists who have
unlocked significant early-stage potential on the KSZ and Ditau projects.
Jeremy will continue to consult for Kavango on the same terms.

With the Company now entering a crucial growth period, the board has decided
to adopt a less executive and more strategic structure.

To this end, we are delighted to welcome Donald and Alex onto the board.
Donald brings a wealth of financial management experience, having acted as
finance director for a number of PLCs. He has led numerous successful
financings of mining ventures and has significant experience working in
Zimbabwe.

Alex, meanwhile, is a well-respected mining analyst for Peel Hunt. Alex brings
with her a rare combination of technical geological and financial market
experience. Alex completed a site visit to Zimbabwe in early May and has
reviewed our progress there. Importantly, Alex also has direct experience of
the Kalahari Copper Belt in Botswana, having started her career working for
Dave Catterall on the Zone 5 Discovery 10 years ago.

I am delighted that Donald and Alex have agreed to join Kavango as directors.
With their appointments, we have strengthened our board substantially. We now
move forward into an exciting phase of growth, with even greater confidence."

About the new directors

Donald brings years of experience of operating in Zimbabwe and raising funds
for many projects. He was a founding director and remains on the board of
Tertiary Minerals plc.

Previously he was Finance Director of Mwana Africa plc, Ridge Mining plc and
Reunion Mining plc and has served on the Board of Bindura Nickel Corporation
and Freda Rebecca Gold mine, both in Zimbabwe. He also worked at Enterprise
Oil plc, Texas Eastern N Sea Inc. and Cluff Oil Holdings plc. He has over 20
years' experience in all financial aspects of the resource industry, including
metal hedging, tax planning and economic modelling.

Donald's experience also includes the economic evaluation of gold and base
metal mines and the arranging of project finance for feasibility studies and
mine developments.

He was also involved in the listing of Reunion Mining plc on the Luxembourg
and London Stock Exchanges and the listing of Ridge Mining on AIM.

Mr McAlister will take on the responsibility of Chairman of the Audit
Committee.

Alex trained as a geologist and worked with Dave Catterall in Botswana.  She
is currently a Mining Analyst at Peel Hunt, covering small and mid-cap mining
companies listed in London. Prior to that, Alex worked in BMO's commodities
team, and in various analytical and consulting roles at Wood Mackenzie.  She
brings a wealth of banking and analytical experience.

Donald's and Alex's appointments will take effect following the Company's 2024
AGM which takes place on 6 June.

There are no disclosable matters which need to be announced in respect of
Donald or Alex save that Donald  holds 725,664 shares in Kavango Resources
plc.

Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com and on X
(formerly Twitter) at #KAV.

For further information please contact:

Kavango Resources plc
 

Ben Turney

+46 7697 406 06

First Equity (Broker)

+44 207 374 2212

Jason Robertson

 

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