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Kavango to list on VFEX

Resources company, Kavango Resources, listed in the United Kingdom (UK), intends to have a secondary listing on the Victoria Falls Stock Exchange (VFEX) in an effort to raise local funding for its gold projects in Zimbabwe.

Inter Horizon Advisory has been appointed by Kavango as the primary financial advisor for the proposed deal.

 

“The proposed listing will provide an opportunity for Zimbabwe-based investors to participate in Kavango’s exploration and mining development opportunities. This will provide the company with access to an enlarged pool of capital and shareholder base and meet Kavango’s strategic objective of promoting strong local ownership in its projects,” Kavango said.

Kavango made its first investment in Zimbabwe last year with an option to buy 45 gold claims, saying it sees opportunity in a country that has seen years of low exploration activity.

 

Kavango is exploring the Nara Project in Matabeleland North, which it believes has the potential to host a bulk mineable gold deposit.

Previous workings in the area have produced up to 250,000 tonnes of tailings – the waste from mining operations – which Kavango also hopes may yield some gold.

“Over the past 12 months we have made a strong commitment to invest heavily in Zimbabwe’s gold exploration and mining development sectors,” Ben Turney, the Kavango’s CEO.

He adds: “A key part of our strategy is to promote local ownership in Kavango to share the rewards of future success. Kavango has made a very strong start in the short time we have been here, with our exploration and drilling already delivering positive results. We believe that the more success we have, the greater the chance that other international firms will follow our lead to invest in this great country.”

 


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