Kavango believes Nara has the potential to host a bulk mineable gold deposit.
To fund the acquisition and support operational needs, Kavango secured a $5 million commitment from Purebond, which will subscribe for new ordinary shares at 1 pence per share. This investment aligns with the company’s planned listing on the Victoria Falls Stock Exchange, expected to facilitate further fundraising efforts.
A comprehensive technical and commercial appraisal of the Nara project is scheduled for release before the end of July 2025. Kavango believes the project has the potential to host a large-scale gold deposit suitable for bulk mining. The company has full access to conduct extensive exploration, including surface mapping, geochemistry, geophysics, drill testing, and evaluation of tailings processing viability.
Kavango’s CEO, Ben Turney, stated: “Once we have completed the Nara acquisition, Kavango will own 100pc 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.”
The company is focused on identifying gold deposits in Zimbabwe that can transition swiftly to commercial production using modern mining and processing methods. Kavango aims to pursue both open-pit and underground opportunities to maximize output.
In addition to the Nara project, Kavango fully owns the Hillside gold project, acquired in April 2024. In November 2024, the company announced plans to construct a new processing facility at Hillside to enhance gold production capacity. The facility will support operations at Prospect 4, which spans 44 gold claims over 503 hectares and is located within trucking distance of the Nara project.
This strategic acquisition strengthens Kavango’s presence in Zimbabwe’s gold mining sector, supporting regional economic growth through sustainable mining practices without impacting trade dynamics. The company’s efforts are geared toward long-term production and operational efficiency in the Filabusi Greenstone Belt.
