Kavango Resources plc has secured a US$5 million convertible loan note for mine development, equipment and construction of a gold processing plant at Hillside in Matabeleland, Zimbabwe. MINING The interest-free CLN is with a consortium of Zimbabwe-registered pension funds, whose agent and administrator is Comarton Consultants (Private) Ltd. The funds can be drawn in three […]
Tag: Hillside gold project – Matabeleland – Zimbabwe
Kavango finds potential gold upgrade at Hillside
Kavango Resources plc reported a “significant upgrade” of potential underground resources following shaft restoration of Prospect 1 at the Hillside gold project in Matabeleland, Zimbabwe. ‘REEFS’ The company completed work on the historic main shaft and west shaft, with the removal of historic waste material from the main shaft’s first two levels revealing a deeper, […]
Kavango completes Prospect 3 drilling at Hillside
Kavango Resources plc has completed initial resource diamond drilling at Prospect 3 within the Hillside gold project in Matabeleland, southern Zimbabwe. MINING The company said that the programme of 34 holes for 2,109.16 metres had provided sufficient geological information and sample material for assay, metallurgical and geotechnical test work for an initial mining plan. Prospect […]
Kavango secures £10.27m financing
Kavango Resources plc has secured strategic financing of £10,277,868 comprising a placing and convertible loan notes. LISTING The placing of 938,028,569 new ordinary shares of £0.001 each at 0.7 pence per share will raise £6,566,200, subject to a Financial Conduct Authority approved prospectus and shareholders. The company’s deputy chairman Peter Wynter Bee has additionally agreed […]
Kavango identifies tungsten in Hillside assays
Kavango Resources plc has identified “significant” and “potentially economic” multi-element concentrations including tungsten at the Hillside gold project in Matabeleland, southern Zimbabwe. PATHFINDER The company plans to widen its exploration in the country for the “strategic elements” including bismuth, selenium, molybdenum and further tests for tungsten value and widths. The results, with a peak tungsten […]
Kavango to build production plant at Hillside
Kavango Resources plc plans to build a gold production plant to boost production at Prospect 4 within the Hillside project in Matabeleland, southern Zimbabwe. ASSESSMENT Four contract miners currently send “high grade gold mineralisation”, mined on a small scale, 20km to the company’s processing facility at the main site. Kavango said that volumes were at […]