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LONDON (Alliance News) - Kavango Resources PLC said on Thursday, in its maiden set of interim results since listing in London in July, reported a widened loss as it begins its exploration programme in Botswana.
The company's pretax loss for the six months to June 30 expanded to USD36,000 from USD2,000 a year ago. No revenue was generated during the period.
Kavango said its exploration programme is focused on the Kalahari Suture Zone, targeting the discovery of Nickel-Copper-Platinum sulphide rich deposits in Botswana.
Part of this exploration programme includes the flying of an electromagnetic survey to be carried out over the licences in the Kalahari area in, potentially, at least 3 phases with Geotech Airborne Geophysical Surveys of Canada.
Flying phase 1 of the programme over the northern region of Kalahari is underway. Also as part of the exploration programme, initial work is also expected to commence soon at the Ditau Camp project.
Shares in Kavango were untraded at 2.675 pence on Thursday.