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Pin to quick picksKavango Resources Share News (KAV)

Kavango Resources: Accelerate Bookbuild To Raise £3.08m at 1.2p per share

Kavango Resources: Accelerate Bookbuild To Raise £3.08m at 1.2p per share

Share Price Information for Kavango Resources (KAV)

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Share Price: 1.225
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TRADING UPDATES: Spectra cash cleaner strong on Covid; Fintel grows

Wed, 21st Jul 2021 20:19

(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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Spectra Systems Corp - Rhode Island-based authentication technology provider - Says tests in Boston show Spectra's Aeris banknote cleaning process also rids SARS-2 "below detectable limits". "When Covid-19 was emerging as a pandemic, a multitude of central banks expressed interest in whether Aeris could both remove soiling as well as deactivate SARS-2. This new data makes Aeris valuable both for saving banknote replacement costs as well as for increasing the safety of cash," Spectra says.

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Bloomsbury Publishing PLC - London-based publisher - Says total revenue grows 28% annually to GBP63.1 million in four months to June. "Consumer division revenues were 26% ahead of last year, with strong print and e-book sales. Adult revenues grew by 17% and Children's revenues by 32%," Bloomsbury says. "The board expects the group's performance for the year ending 28 February 2022 to be in line with market expectations." Notes consensus is for revenue of GBP193.4 million and pretax profit before "highlighted items" of GBP19.3 million.

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Bluefield Solar Income Fund Ltd - Guernsey-based income fund that invests primarily in solar assets - Raises GBP105.1 million through issue of 89.1 million shares at 118 pence each. "The proceeds raised will enable us to further diversify and grow the company's extremely high quality portfolio of renewable infrastructure assets," Chair John Rennocks says.

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Adriatic Metals PLC - Cheltenham, England-based precious and base metals explorer and developer - Qualifies for upgrade to OTCQX Best Market, OTC Markets Group's premier market for companies seeing US investors. Adriatic adds: "By upgrading to the OTCQX, Adriatic enables its current and prospective US investors improved market visibility, increased trading liquidity and the most up-to-date information otherwise not found on the Pink market. Approximately 20% of the company's investor base is in North America."

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Harbour Energy PLC - North Sea-focused oil and gas company - Says issues with HGS Tolmount platform identified in electrical systems are "now being investigated and rectification plans are being developed". Says first gas at Tolmount delayed beyond end of July, now likely around year-end. Says 2021 production guidance is now 185,000 to 195,000 barrels of oil equivalent per day.

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Bushveld Minerals Ltd - Johannesburg-based vanadium producer - Says second quarter output rises 13% annually to 886 metric tonnes of vanadium. For first half, output down 5.2% year-on-year to 1,574 metric tonnes. Sales volumes in second quarter rise 20% yearly to 820 metric tonnes, but fall 8.9% to 1.6 metric tonnes in all of first half.

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Ariana Resources PLC - London-based gold exploration and development company - Updates on drilling and resource at Kepez North area of Kiziltepe mine. Reports resource of 36,400 ounces of gold and 329,400 ounces of silver. Reflects 97% increase in contained gold ounces over previous resource estimate in 2020. "This is a great outcome from the recent drilling undertaken in the Kepez area," Ariana Managing Director Kerim Sener says.

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Kavango Resources PLC - mineral exploration company - Says proof of concept drilling begins in Kalahari Suture Zone, Botswana. Specifically, Kavango eyeing A2 target. "With the drill bit now turning at A2, we should soon hopefully become the first company ever to retrieve core samples from the bottom of a Karoo-age gabbro in the region," Chief Executive Ben Turney says.

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Bradda Head Holdings Ltd - British Virgin Islands-based lithium explorer with assets in Nevada and Arizona - Reports plans for fast-track programme at Burro Creek East designed to twin five existing holes and drill five more as Bradda Head eyes resource extension at Arizona, US asset. Company adds: "141 meters have been drilled of a planned 991 metres." First set expected in third quarter.

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Arena Events Group PLC - London-based event solutions provider - Repays short-term financing facility provided by Lombard Odier Investment Management. Says amount drawn down is GBP2.0 million and notes GBP500,000 interest.

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Regional REIT Ltd - real estate investment trust focused on UK offices outside London - Exchanges contracts with ARA Dunedin to sell "significant industrial property" for GBP45.0 million. Regional REIT adds: "The completion is conditional upon the purchaser having in place the required financing. This reflects a net initial yield of 6.75% to the purchaser and is 7.5% above the valuation as at 31 December 2020." Portfolio includes seven assets, located in Bromborough, Erith, Nottingham, Scunthorpe, Telford, Winsford and Wisbech.

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Fintel PLC - Huddersfield-based business services provider to financial advisers - Says revenue up 10% in first half of 2021 to GBP31.7 million from GBP28.9 million a year prior. Adjusted earnings before interest, tax, depreciation and amortisation up 12% GBP8.3 million from GBP7.4 million. In addition, says agrees sale of non-core Zest Technology to FPE Capital for GBP10 million initially and possibly extra GBP1.5 million tied to revenue targets.

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CAP-XX Ltd - New South Wales, Australia-based supercapacitors manufacturer - Says custom power conversion and energy storage systems producer RGM Spa selects CAP-XX supercapacitors. CAP-XX says this is due to the ability of its supercapacitors to "store and release large amounts of energy and power for the industrial automotive market".

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By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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29 Apr 2024 15:45

TRADING UPDATES: Smarttech247 inks USD2.1 million contract

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

Read more
23 Apr 2024 19:58

EARNINGS AND TRADING: Graft Polymer extends loan; ASA profit down 30%

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

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23 Apr 2024 15:03

IN BRIEF: Kavango finds 9.95 gold grammes per tonne at Hillside

Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Says drilling at Hillside Prospect 2 finds up to 9.95 gold grammes per tonne. Intends to test the gold-bearing potential of these shears by drilling a fence of holes to test for a bulk-minable gold deposit across the entire zone, it says. The Hillside gold project is in Zimbabwe. On Monday, Kavango reported that it had found up to five potentially mineralised shear zones identified from an induced polarisation survey at Hillside. Chief Executive Officer Ben Turney says: "Results from Prospect 2 at Hillside are even stronger than those we've recently reported at Prospect 4. The 7.2 meters wide zone running at 9.95g/t is significant in itself, but viewed in the context of the other gold intercepts in Hole BRDD001 the open-pit potential is clear."

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22 Apr 2024 15:49

IN BRIEF: Kavango finds potentially mineralised zones at Hillside

Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Finds up to five potentially mineralised shear zones identified from an induced polarisation survey at its Hillside gold project in Zimbabwe. Two of the zones identified from the IP survey coincide with a series of parallel artisanal workings. Adds that three additional shear zones have been interpreted under slightly thicker cover and remain undiscovered. Chief Executive Officer Ben Turney says: "We are looking forward to testing the bulk-minable gold potential at prospect 4. The possible presence of four parallel, gold-bearing shear zones makes this an increasingly attractive exploration target."

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19 Apr 2024 11:24

Kavango Resources announces drill tender for drilling at Karakubis

(Alliance News) - Kavango Resources PLC on Friday said that it is tendering for the first phase of scope drilling on the Kalahari copper belt at its Karakubis project in Botswana.

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18 Apr 2024 14:38

IN BRIEF: Kavango Resources loss widens; eyes Kalahari drilling start

Kavango Resources PLC - Botswana and Zimbabwe-focused exploration company - Pretax loss widens 49% to USD3.3 million in 2023, from USD2.2 million in 2022. Notably, Kavango reports pre-licence exploration costs of USD1.2 million for 2023, compared to none a year prior. Administrative cost decrease 7.0% to USD2.1 million from USD2.2 million. The company is in a pre-revenue state so far. Kavango expects to start drilling at Kalahari copper belt project in Botswana in the middle of the second quarter of 2024. Notes that in March it signed its first contract to start immediate gold mining operations at the Hillside project in Zimbabwe.

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16 Apr 2024 20:34

EARNINGS AND TRADING: AssetCo deputy retiring, Chapel Down ups revenue

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

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15 Apr 2024 11:01

IN BRIEF: Kavango celebrates drilling results at Hillside, Zimbabwe

Kavango Resources PLC on Monday said - London-based, Southern Africa-focused metals exploration company - Finds 29.08 grammes of gold per tonne at the Hillside Prospect 4 gold asset in Matabeleland, southern Zimbabwe after drilling SKDD001 hole. Says hole contains multiple further broad zones of geochemically anomalous gold values thought to relate to additional shear zones. Results are pending on four other holes drilled across three other Hillside prospects, it adds. Kavango will also examine near surface gold mining potential at prospect 4, based on intersected grades and ongoing artisanal mining in the area. Chief Executive Officer Ben Turney says: "This result far surpasses our expectations at prospect 4. Prospect 4 is our fourth-ranked target at Hillside. These results underline the Hillside project's overall potential to host over [one] million ounces of mineable gold."

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12 Apr 2024 10:30

IN BRIEF: Kavango completes magentic survey at Nara project, Zimbabwe

Kavango Resources PLC - London-based, Southern Africa-focused metals exploration company - Completes ground magnetic survey on Nara gold project in Zimbabwe. Says it has identified magnetic low lineaments interpreted as shear zones. Shear zones are commonly associated with gold mineralisation, it explains, adding this discovery will lead to a follow-up survey. Chief Executive Ben Turney says: "We've mobilised the rig to our Nara Project in March and have just completed our fifth diamond hole here. We will provide an update on drilling in the coming weeks but based on visual observations of core we decided to push ahead with a ground magnetic survey of the project area. Our goal was to learn more about the structure we are drill testing." This comes after Kavango on Thursday said that it had received authorisation to export drill core samples from the Hillside project, also in Zimbabwe.

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11 Apr 2024 09:46

Kavango Resources gets approval to export Zimbabwe test samples

(Alliance News) - Kavango Resources PLC on Thursday said that it has received authorisation to export drill core samples from the Hillside gold project in Zimbabwe.

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2 Apr 2024 16:27

TRADING UPDATES: Ground Rents refinances; ECR Minerals loss narrows

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

Read more
22 Mar 2024 12:03

Kavango Resources completes airborne survey of Bostwana copper asset

(Alliance News) - Kavango Resources PLC on Friday announced the completion of the final geological survey of its property in Botswana's Kalahari copper belt.

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8 Mar 2024 10:41

IN BRIEF: Kavango rises as eyes revenue from Zimbabwe mining arm

Kavango Resources PLC - Southern Africa-focused metals explorer - Announces that it expects to move to revenue in March, adding that it aims to double current production to one kilogram of gold a month over the course of 2024. Kavango also announces that it has signed its first contract to start immediate gold mining operations at its Hillside project in Zimbabwe. Also says that it has formed a new subsidiary in Zimbabwe, Kavango Mining Ltd. Chief Executive Ben Turney says: "Current revenue at Hillside amounts to around AUD30,000 per month, and the operation there is already profitable. Continuous production at Zimbabwe gold projects secures the ground and forms an important part of any long-term development plan. Our objective is to become a significant gold producer in this country, and this is our first step towards achieving this goal. If all goes well, there are other production opportunities we hope to bring to Kavango."

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6 Mar 2024 16:16

IN BRIEF: Kavango touts indicated gold at Nara project in Zimbabwe

Kavango Resources PLC - Southern Africa-focused metals explorer - Reports indicated mineral resource at an average of 0.62 grammes of gold per tonne at the Nara gold project in Zimbabwe, for a total of 5,860 ounces gold contained. Further, notes an inferred resource of 11,900 tonnes at 0.66 grammes of gold per tonne for a total of 253 ounces. Chief Executive Officer Ben Turney says: "While our primary objective is to discover larger-scale, bulk minable gold deposits, the 6,000 ounces of gold in the main tailings dump present an early opportunity for commercialising this project." He adds: "We will now commence metallurgical test work to optimise plant design to enable future gold production."

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23 Feb 2024 11:00

IN BRIEF: Kavango begins IP surveys at Hillside project, Zimbabwe

Kavango Resources PLC - Southern Africa-focused metals explorer - Says it has begun its IP surveys over four prospects at its Hillside gold project in Zimbabwe. Says the surveys are designed to identify sulphide bodies associated with high-grade gold-bearing shear structures related to historic and artisanal workings. Adds that four diamond core holes have been completed for a total of 1,306 metres at four prospects at Hillside, noting that visual observations from the cores are "encouraging". The samples are awaiting export permission for assay testing. An additional 1,400m of diamond drilling is planned to test targets identified by the current IP survey programme and extend intersections observed in recent drilling. Chief Executive Officer Ben Turney says: "IP surveys can be used to map underground metal mineralisation that is associated with gold. This can be a powerful exploration tool to plot the extent of possible ore bodies. The extra IP data will help guide future drilling, by providing Kavango with focused target areas."

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