Exploration & Mining Legal News

Kavango extends Hillside option to review tax changes

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Kavango Resources plc has agreed a 90-day extension to the Hillside gold option in Zimbabwe in order to review changes to tax laws.

Impact: Kavango continues exploration and drilling at the project in Matabeleland (Pixabay)

UNCERTAINTY

The company said that, based on technical data gathered from exploration including initial core review, it had intended to exercise the option today.

The extension follows uncertainty over the impact of recent changes to the Finance Act in Zimbabwe, and specifically the imposition of a mining ‘Special Capital Gains Tax’.

Kavango continues exploration and drilling at the project in Matabeleland in the south of the country.

Hillside comprises 40 contiguous gold claims and contains a historic high-grade underground mine.

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