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Share Price Information for Kavango Resources (KAV)

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Share Price: 1.175
Bid: 1.10
Ask: 1.25
Change: 0.00 (0.00%)
Spread: 0.15 (13.636%)
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TRADING UPDATES: Menhaden net asset value up but Marble Point's slips

Fri, 15th Sep 2023 13:48

(Alliance News) - The following is a round-up of updates by London-listed companies, issued this week and not separately reported by Alliance News:

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Menhaden Resource Efficiency PLC - invests in businesses and opportunities, delivering or benefiting from the efficient use of energy and resources - Net asset value per share at June 30 half-year end rises 17% to 151.4 pence from 129.8p at the end of December. Reports total return of 17%, beating benchmark return of 5.9%. Menhaden says: "Notable contributors to our performance included private equity clean energy developer X-ELIO, which is expected to realise 2.2 times invested capital following its proposed acquisition by Brookfield Renewable, expected to conclude by the end of 2023. Taken together, our three largest digitalisation (decarbonisation) themed public equities (Microsoft, Alphabet and Amazon) contributed 9.2% to NAV. The two largest detractors were two sustainable infrastructure and transport companies, Union Pacific and Canadian National Railway, which reduced our NAV by 0.3%."

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Marble Point Loan Financing Ltd - closed-ended investment company focused on dollar-denominated, broadly syndicated floating rate senior secured corporate loans - Net asset value per share falls to USD0.52 at June 30 half-year end, from USD0.55 on December 31. Marble Point says: "In a welcome respite from the volatility that impacted global credit markets throughout 2022, leveraged loan markets experienced an auspicious start to the year before being roiled by the March 2023 banking crisis, earnings volatility and nagging recession and rate concerns. However, the Silicon Valley Bank collapse in March spurred retail loan fund outflows and a risk off mindset across broader credit markets, causing loan prices to decline. While loans in the second quarter of 2023 experienced additional bouts of price volatility, the arc ultimately trended positively as broader markets

recovered from the throes of the March banking crisis."

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Cambria Africa PLC - Zimbabwe-focused investment company - Shares return to trading after it reports belated annual results as well as half-year results. For the six months to February 28, net asset value per share fades to USD1.06 from USD1.16 a year prior. "We remain cautiously optimistic about achieving full value for the company's assets beyond its NAV. While we still see value in our listing, the board is considering whether to maintain its listing. With the publishing of the group's FY 2022 and HY 2023 results, the suspension of the company's shares on the AIM will be lifted. This should enable shareholders to trade with a comprehensive understanding of the investment landscape confronting Cambria," the firm adds. Cambria's NAV per share at its August 31, 2022 financial year-end was also USD1.06, down from USD1.16 the year prior. Cambria shares were 25% lower at 0.22 pence each on the return to trading on Friday.

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Kavango Resources PLC - metals exploration company with assets in Botswana and Zimbabwe - Pretax loss in half-year ended June 30 widens to USD1.4 million from USD883,000 a year prior. Administrative expenses increase 32% to USD1.0 million from USD794,000. In addition, it posts USD249,000 worth of pre-licence exploration costs, compared to none a year prior. Kavango generates no revenue, unchanged from a year prior.

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By Eric Cunha, Alliance News news editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

More News
21 Dec 2022 11:56

IN BRIEF: Kavango Resources appoints new executive director

Kavango Resources PLC - Botswana-focused metals exploration company - Appoints Jeremy Brett as an executive director. Says he is a senior geophysical consultant with 28 years international mineral exploration in most commodities. Says he has a strong background in geology, structure, ore deposit models, project management and strategy. Non-Executive Chair David Smith says: "Jeremy...has been working closely with Kavango since February 2022. Over this period, he has played a key role in enhancing the company's exploration programmes. Jeremy now joins the board, as we enter the next crucial growth phase for Kavango."

Read more
16 Dec 2022 21:53

TRADING UPDATES: Dev Clever to cancel shares; Tintra raises funds

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

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25 Nov 2022 11:12

Kavango shares rise on survey breakthrough at Kalahari

(Alliance News) - Kavango Resources PLC on Friday said it has found success using controlled-source audio magnetotelluric surveys at one of its Kalahari assets, dubbing the results an "important breakthrough" for the company.

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25 Oct 2022 14:53

TRADING UPDATES: Gunsynd invests; AQRU launches crypto-backed loans

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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24 Oct 2022 14:17

IN BRIEF: Kavango raises GBP3 million in placing for Botswana plans

Kavango Resources PLC - London-based mineral explorer focused on Botswana - Raises GBP3.0 million before expenses via the issue of 166.7 million shares at 1.8 pence each. The placing is conducted by First Equity Ltd with institutional and other investors "including high net worth and retail investors". Notes one "strategic cornerstone investor" subscribed for over half of the placing amount. Also conditionally completes issue of 8.1 million shares in a direct subscription.

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21 Oct 2022 21:58

TRADING UPDATES: IOG loses CEO; AEW UK REIT sees assets fall

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

Read more
14 Oct 2022 10:30

Kavango Resources considers further exploration after system surprise

(Alliance News) - Kavango Resources PLC on Friday said it is considering next steps for drilling after the unexpected confirmation of an iron oxide copper gold system at its Ditau project.

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12 Oct 2022 10:17

Kavango Resources excited by results from Kalahari licence surveys

(Alliance News) - Kavango Resources PLC on Wednesday said it has received encouraging results from surveys at one of its licences on the Kalahari copper belt.

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11 Oct 2022 21:12

TRADING UPDATES: AssetCo net assets fall; VH Global seals deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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5 Oct 2022 18:04

TRADING UPDATES: Reabold says Shell strikes Corallian deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued since last week Thursday and not separately reported by Alliance News:

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28 Sep 2022 22:10

TRADING UPDATES: Harmony Energy plans raise; Kavango sets drill target

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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13 Sep 2022 13:44

TRADING UPDATES: Kavango wins new licence; Tlou progresses at Lesedi

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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9 Sep 2022 09:54

Kavango Resources loss widens; eyes new mineral targets in Botswana

(Alliance News) - Kavango Resources PLC on Friday posted a wider half-year loss as costs increased, but set out exploration plans in Botswana.

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31 Aug 2022 16:46

IN BRIEF: Kavango Resources identifies drill target in Kalahari belt

Kavango Resources PLC - London-based mineral explorer focused on Botswana - Identifies large drill target prospective for copper on its Kalahari Copper Belt Mamuno licences PL049/2020 and 052/2020.

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30 Aug 2022 17:49

IN BRIEF: Kavango Resources discovers gold, copper in Ditau drill hole

Kavango Resources PLC - London-based mineral explorer focused on Botswana - On receipt of analytical results from drill hole DITDD004 on target i10 at the Ditau Camp project in Botswana.

Read more

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