REG - Kavango Resources - £2.2 million UK Placing and Subscription

Kavango ResourcesAnnouncement

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RNS Number : 6798Y  Kavango Resources PLC  10 September 2025

10 September 2025

Kavango Resources PLC

("Kavango" or the "Company")

£2.2 million UK Placing and Subscription

Kavango Resources plc (LSE:KAV, VFEX:KAV.VX), the Southern Africa-focused
metals exploration and gold production company, is pleased to announce the
Company has raised £2.2 million by the issue of  227,751,720 New Ordinary
Shares in the capital of the Company ("New Ordinary Shares") at a price per
share of 1 pence (the "Subscription Price") by way of a direct subscription
and placing (the "Placing and Subscription").

Purebond Limited, the Company's major shareholder, has directly subscribed for
111,201,720 New Ordinary Shares at the Subscription Price per share.

Chairman and Company director Peter Wynter Bee has also subscribed for
10,000,000 New Ordinary Shares at the Subscription Price per share.

Ben Turney, Chief Executive Officer of Kavango, commented:

"We are now entering the crucial phase of Kavango's plan in Zimbabwe. In the
last two years, we've made four significant discoveries that we believe we can
bring into commercial production. Our immediate objective now is to build and
commission 250tpd of gold mining and processing capacity at our Hillside Gold
Project in the first half of next year. This pilot-scale production will allow
us to clearly and decisively prove to the international market that Zimbabwe
is a mining-friendly jurisdiction that is open for business.

"We intend to use the funds raised today to accelerate our progress towards
that goal.

"I would like to sincerely thank our existing and new shareholders for joining
us in pursuit of this transformative vision."

Use of funds

Funds from the Placing and Subscription will contribute to the Company's
general working capital and will fund further exploration and mine development
work. This work will include (but not be limited to):

§ Resource and grade control drilling at Kavango's Bill's Luck gold mine in
Zimbabwe

o Combination of surface diamond and reverse circulation drilling, plus
underground diamond drilling to identify 3-years of mineable reserves

§ Initiation of construction of 200tpd Carbon In Leach ("CIL") processing
plant at Bill's Luck

§ Further surface and underground exploration/resource drilling

Admission and Total Voting Rights

On completion of the Placing and Subscription, application will be made for
the New Ordinary Shares to be admitted to the Equity Shares (Transition)
category of the Official List and to trading on the main market of the London
Stock Exchange plc ("Admission").  It is expected that Admission will
become effective and that dealings in the New Ordinary Shares will commence
at 8.00 am on or around 15 September 2025.

Following Admission, the total issued share capital of the Company will
consist of  3,609,823,314 Ordinary Shares. Therefore, the total number of
voting rights in the Company is  3,609,823,314  and this figure may be used
by shareholders in the Company as the denominator for the calculations by
which they will determine if they are required to notify their interest in, or
a change in their interest, in the share capital of the Company.

 

Further information in respect of the Company and its business interests is
provided on the Company's website at www.kavangoresources.com
(http://www.kavangoresources.com) and on X at @KavangoRes.

For further information please contact:

 Kavango Resources plc                                    Shard Capital Partners LLP     BlytheRay

Ben Turney
                              (Financial PR)

+46 7697 406 06                                         (Corporate Broker)             Tim Blythe/Megan Ray/Said Izagaren
                                                          Damon Heath                    kavango@blytheray.com (mailto:kavango@blytheray.com)

+44 207 186 9952
+44 207 138 3204

 Inter-Horizon Group                                      Nurture Invest  (Pvt) Ltd
 (Sponsoring  Broker - Zimbabwe)
(Arrangers - Zimbabwe)

Lloyd Mlotshwa

                                                        Zinzi Mlambo- Ziki
 lmlotshwa@ih-group.com (mailto:lmlotshwa@ih-group.com)

                                                        zinzi.ziki@nurtureinvest.com

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE
MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED
IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

 

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