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Alan Green covers Kavango Resources #KAV, ONDO Insurtech #ONDO & Brave Bison #BBSN – The Mission Group #TMG on this week’s Stockbox Research Talks

Alan Green covers Kavango Resources #KAV, ONDO Insurtech #ONDO & Brave Bison #BBSN – The Mission Group #TMG on this week’s Stockbox Research Talks

Alan Green covers Valereum #VLRM , Kavango Resources #KAV, Cadence Minerals #KDNC & VVV Resources #VVV on this week’s Stockbox Research Talks

Alan Green covers Valereum #VLRM , Kavango Resources #KAV, Cadence Minerals #KDNC & VVV Resources #VVV on this week’s Stockbox Research Talks

#KAV Kavango Resources PLC – Investment in Pambili Natural Resources TSX-V:PNN

Kavango Resources plc (LSE:KAV), the Southern Africa-focused metals exploration company, is pleased to announce that the Company has completed a strategic investment in gold mining, exploration, and development company Pambili Natural Resources Corporation (“Pambili” or “the Corporation”) (TSX-V:PNN).

Kavango has given notice to Pambili that it wishes to convert a US$250,000 convertible loan (the “Loan”) made to Pambili, along with a Loan Premium of US$75,000 (“Repayment amount”), into common shares in the Corporation (“the Conversion”). Following the Conversion, Kavango will hold 15% of Pambili’s total issued share capital.

Pambili is active in Matabeleland in southern Zimbabwe, having established operations here in 2022.

Kavango has worked with Pambili since March this year, assisting it through a corporate restructure and acquisition of the Golden Valley project, which completed earlier in November 2023 (Pambili’s announcement can be read >>> here).

Golden Valley has a history of high-grade underground mining and gold production. Golden Valley includes a functional gold processing plant and stamp mill, two historic shafts that present prospective exploration targets and near surface exploration potential to target a possible larger-scale deposit. Some small-scale gold production continues at Golden Valley by way of toll-milling third-party ore through an on-site stamp mill.

Pambili’s plan at Golden Valley is to explore the underground potential first, with a view to recommencing mining in Q1 2024. The processing plant is ready to receive ore and plans are being finalised for underground exploration drilling.

In parallel to this, Pambili will conduct surface exploration at Golden Valley using Kavango’s field team.

By taking a strategic interest in Pambili, Kavango is seeking to build on its first-mover advantage in Matabeleland by increasing its exposure to a third, highly prospective greenstone belt. Golden Valley is located on a separate greenstone belt to the one that hosts Kavango’s Hillside and Nara projects and a separate greenstone belt to the one that hosts the Leopard Project (announced >>> 25 July 2023).

In addition, Kavango and Pambili will be able to share operational, exploration and administrative functions. This is expected to provide both companies with significant cost savings and operational efficiencies.

Ben Turney, Chief Executive of Kavango Resources, commented:

There is immense opportunity in Zimbabwe’s Matabeleland goldfields. Kavango has identified a strong pipeline of opportunities across the region. Our investment in Pambili creates for us an additional outlet for some of these.

We are very pleased to partner with Pambili, as Jon Harris and his team recommence mining at Golden Valley. This is an exciting project that Kavango knows well. It combines excellent potential for near-term revenue generation with untested surface exploration upside.

The greenstone belt that Golden Valley is on is highly prospective for gold with a number of possibilities for further expansion in the area. The processing plant is operational and can be added to as Pambili grows. With what we’ve learned about historic cut-off grades at Golden Valley, underground drilling could deliver a very positive result.

We have been able to secure our investment in Pambili at a low entry point. I expect our ongoing working relationship, supported by the shared operational efficiencies it affords, has already added, and will continue to add, substantially to our balance sheet over time.

Further information in respect of Kavango and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc 

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson

+44 207 374 2212

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP).  Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status.  Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

#KAV Kavango Resources PLC – KCB – Airborne geophysical survey commences

Kavango Resources plc (LSE:KAV), the Southern Africa focussed metals exploration company, is pleased to announce the commencement of an airborne geophysical survey on its Kalahari Copper Belt (“KCB”) project in Botswana.

The Company has signed a contract with South Africa-based New Resolution Geophysics (“NRG”) for Time Domain Electromagnetic (“TDEM”), Magnetic, and Gravity surveys combined on one helicopter platform (“the NRG Survey”).

The NRG Survey will consist of 2,374-line kms at a line spacing of 500m x 5,000m across Kavango’s Block 1A and Block 1B Prospecting Licences (“PLs”)

The work expands on airborne geophysical surveying already completed by ENRG Elements (ASX:ENRG) (“ENRG”) on PL203/2016 and PL127/2017, two adjacent PLs recently acquired by Kavango (announced >>> 16 November 2023).

Figure 1: NRG’s planned survey lines across Kavango’s Block 1A and Block 1B licences and airborne survey data covering the PLs acquired from ENRG

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

Kavango is targeting the discovery of large-scale copper/silver targets in the Kalahari Copper Belt (KCB) in Botswana.

We recently acquired additional exploration licences from ENRG Elements to complete a large contiguous land package from the town of Ghanzi to the Namibian border. Our interpretation of ENRG’s existing survey data for Prospecting Licences 203/2016 and 127/2017 supports our working theory that this area is prospective for copper/silver. We believe this potential could extend to Kavango’s other licence holdings, which have designated as Blocks 1A and 1B.

As part of our “levelling up” strategy in the KCB, we are compiling a consistent data set for all the ground we control. NRG’s airborne geophysical survey will provide us with some of the final exploration data we need ahead of defining drill targets for next year’s drill campaign.

Our recent work has confirmed physical indicators of a copper mineralising system within our ground, combined with encouraging geophysical anomalies.

Our goal in reprocessing ENRG’s existing data and combining it with the data from the airborne surveys we will fly over Blocks 1A and 1B will be to increase our understanding of the region’s mineralised potential. We will also investigate the interpreted sub-basin that could be a significant control for copper/silver deposits.

Further details

The NRG Survey will be conducted over five PLs that make up Kavango’s Block 1A (PL046/2020, PL049/2020, PL052/2020, PL053/2020) and Block 1B (PL205/2016) licence areas. The licences are located southwest of the town of Ghanzi and adjacent to PL203/2016 and PL127/2017, two of the KCB PLs Kavango recently acquired from ENRG.

NRG is expected to commence its airborne geophysics survey on 4 December 2023. The survey is expected to take two weeks to complete, with the final data processing and delivery of products anticipated for Q1 2024.

Program objectives

Kavango is currently re-processing data from airborne geophysical surveys already completed by ENRG on PL203/2016 and PL127/2017.

The Company will combine this re-processed data with data from the new NRG surveys to test its working theory that the copper/silver prospective geological and geophysical features, which it interpreted from ENRG’s existing airborne geophysics survey data, extend onto Kavango’s Block 1A and Block 1B licences. Kavango’s geologists and geophysicists believe this could be indicative of a regional copper mineralizing system.

Kavango’s geologists wish to examine whether the stratigraphy and lithology they have begun to map on the former ENRG PLs extend on to these Blocks. They believe that ENRG’s existing data conforms to sequences in the lower D’Kar Formation seen across other parts of the KCB.

The models in Figures 2 and 3 below depict the type of fold geometry and structural trap-sites Kavango believes to underlie areas of Block 1A and 1B.

Figure 2 is a modified version of the fold geometry, showing a “preserved” as opposed to “un-roofed” dome, as well as associated mineralisation present in the fold closure at Khoemacau’s North East Fold (“NEF”) deposit on the nearby Banana Zone. Figure 3 is a schematic cross-section showing both the shear-hosted mineralisation and dilational vein-hosted mineralisation present in Sandfire Resources’ (ASX:SFR) A4 deposit.

Kavango believes there may be scope for either or both models to be present and is optimistic the NRG survey will identify these for further ground geophysics and future drill targeting.

Figure 2 – Regional to deposit scale geologic controls on copper silver mineralisation in the KCB – Wes Hall et al, SEG, Special Publication, no 21, pp207-236

Figure 3 – Schematic cross-section showing high-grade intersection in drill hole MO-A4-003D, interpreted geology, and the mineralisation styles across Sandfire’s A4 deposit

The magnetic component of the NRG Survey will map the structure and lithology of Block 1A and Block 1B. It is anticipated that the EM component of the NRG Survey will highlight prospective subtle conductors within the D’Kar Formation and help identify structural trap sites linked to folds, faults, and shears within Block 1A and Block 1B.

The gravity component of the NRG Survey will seek to identify whether the sub-basin identified in ENRG’s data extends into Kavango’s Block 1A. Kavango believes the margins of this sub-basin could provide priority targets for trap site development and deposit formation.

Kavango will interpret these airborne geophysical data with the goal of identifying target areas for ground geophysical follow-up, which will then lead to drill target identification.

Further information in respect of Kavango and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson

+44 207 374 2212

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geophysics have been read and approved by Mr. Jeremy S. Brett, M.Sc., P.Geo., Senior Geophysical Consultant, Jeremy S. Brett International Consulting Ltd. in Toronto, Canada.  Mr. Brett is a member of the Professional Geoscientists of Ontario, the Prospectors and Developers Association of Canada, the Canadian Exploration Geophysical Society, and the Society of Economic Geologists.  Mr. Brett has sufficient experience that is relevant to geophysics applied the styles of mineralisation and types of deposits under consideration to act as a Qualified Person as defined under the Canadian National Instrument 43-101, Standards of Disclosure for Mineral Projects.

#GRX Green X Metals LTD – Result of AGM

Results of Annual General Meeting  

GreenX Metals Limited (GreenX or the Company) advises, that the 2023 Annual General Meeting (AGM) of the Company was held today, 22 November 2023, at 10.00am (AWST).

The resolutions voted on were in accordance with the Notice of AGM previously advised to shareholders.

All resolutions were decided on and carried by way of a poll.

In accordance with Section 251AA of the Corporations Act 2001 and ASX Listing Rule 3.13.2, the details of the poll and the proxies received in respect of each resolution are set out over page.

 

For further information please contact:

Dylan Browne                                                                                             

Company Secretary

+61 8 9322 6322                                                                                                                                

info@greenxmetals.com

 

Resolution

Number of Proxy Votes

Number of Votes cast on the Poll

Result

For

Against

Abstain

Proxy’s Discretion

For

Against

Abstain

1.    Remuneration Report

2,337,137

14,575,000

3,557

2,990,694
(100%)


(-%)

14,575,000

Carried on vote by poll

2.    Re-election of Director – Mr Benjamin Stoikovich

16,912,137

3,557

17,565,694
(100%)


(-%)

Carried on vote by poll

3.    Approval of Additional 10% Placement Capacity

15,575,078

1,337,059

3,557

16,228,635
(92%)

1,337,059
(8%)

Carried on vote by poll

4.    Appointment of Auditor

16,912,137

3,557

17,565,694
(100%)


(-%)

Carried on vote by poll

5.    Appointment of Polish Auditor

16,912,137

3,557

17,565,694
(100%)


(-%)

Carried on vote by poll

 

#KAV Kavango Resources Plc – Grant of New Share Options

Kavango Resources plc (LSE:KAV), the exploration company targeting the discovery of world-class mineral deposits in Botswana, announces the Board has approved the grant of 48,000,000 share options to directors and PDMRs of the Company (the “Director Options”) and 20,000,000 share options to key consultants to the Company (the “Consultant Options”).

More information on the terms of the option grants and amendments is provided below.

The Director Options are exercisable at a price of 1.1 pence per Ordinary Share for a period of seven years.

The Consultant Options are exercisable at a price of 1.1 pence per Ordinary Share for a period of seven years.  The Consultant Options are subject to phased vesting over twenty four months from the date of grant, with 2,000,000 of the Consultant Options vesting immediately, 4,000,000 vesting after twelve months and the remainder vesting after twenty four months, subject to continuous employment or commercial engagement with the Company.

For further information, please contact:

Kavango Resources Plc

Ben Turney.      +46 7697 406 06

First Equity (Broker)

Jason Robertson.   +44 207 374 2212

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (“UK MAR”). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

#KAV Kavango Resources PLC – KCB – Acquisition of six new PLs completes

Kavango Resources plc (LSE:KAV), the Southern Africa-focused metals exploration company, is pleased to confirm completion of its acquisition of a 90% working interest in six Prospecting Licences (“PLs”) located in Botswana’s Kalahari Copper Belt (“KCB”) (the “Acquisition”)

The Acquisition provides the Company with an extensive single contiguous project area in the KCB covering 7,629km2. Kavango is now one of the KCB’s largest individual mineral rights holders.

Kavango believes its expanded project area is underlain by similar stratigraphy to that along strike of Sandfire Resources’ (ASX:SFR) A4 deposit and Motheo Mine. Analysis of existing exploration data by the Company suggests this could incorporate a regional system that contains domal structures with folded and sheared trap sites. These are key exploration targets in the search for large-scale copper/silver mineralisation.

Kavango plans to commence follow-up work in the KCB later this month, and an update on this programme will follow.

Figure 1: Kavango’s expanded, contiguous KCB land package

Ben Turney, Chief Executive Officer of Kavango Resources, commented:

“These new licences grant us complete control of a contiguous, prospective system in an underexplored section of the KCB, a proven copper/silver region that hosts numerous mines and deposits.

I’d like to thank ENRG Elements for its support during our due diligence process. The mapping, soil geochemistry and drilling data it has provided has been highly valuable.

Kavango has strengthened its geological understanding of its new licences by mapping their lithological sequences and stratigraphy. Meanwhile, the presence of galena and sphalerite – two important pathfinder minerals for copper mineralisation – is also encouraging.

We will now continue to advance our understanding of the new licences’ mineral potential by investigating the potential sub-basin we have identified and interpreting their structure with satellite imagery.

Both of these workflows will help us to develop priority drill targets over the coming months.

Further details

Kavango’s six new PLs cover ground adjacent to its existing Karakubis Block next to the Namibian border. This is currently the priority focus area for the Company’s KCB copper/silver exploration programme. The new PLs are also adjacent to the Company’s South Ghanzi licence block.

In preparation for the completion of the Acquisition, Kavango carried out a detailed review of ENRG’s previous exploration work, including mapping, soil geochemistry and drilling together with historical exploration work.

As a result of this review, Kavango believes the lower D’Kar Formation it mapped across PL049/2020 & PL052/2020 (two of its Karakubis PLs) extends into PL203/2016, PL127/2017 & PL205/2016 (three of its six new PLs).

During the review, Kavango received drill samples and logs from 5,566m of historical drilling completed by Icon and Ashmead.

Kavango’s geologists have begun to interpret the lithological sequences on its new PLs by completing geological work on these drill logs in combination with systematic magnetic susceptibility measurements. The sequences comprise siltstones, carbonates and sandstones.

The Company’s geologists have also begun to compile a stratigraphy for the new PLs that they believe to match existing field mapping and conform to sequences in the lower D’Kar Formation present across other parts of the KCB.

During its review, Kavango identified visible galena and sphalerite hosted in quartz-carbonate veins in the drill core and chips taken from this area. These are two important pathfinder minerals for copper mineralisation.

Additionally, systematic pXRF analysis along the cores and drill chips has confirmed the presence of elevated copper, lead and zinc at correlatable intervals.

Finally, Kavango’s geologists and geophysicists believe they may have identified a gravity low likely related to a deeper sub-basin during a review of ENRG’s previously acquired Airborne Electromagnetic (“AEM”), Gravity and Magnetic data over the Kara Antiform. The margins of this sub-basin could provide priority targets for trap site development and deposit formation. They can be further prioritised when cross-referenced with ENRG’s historic magnetic, AEM, and soil geochemical datasets.

Background to the agreement

Kavango entered an agreement to acquire a 90% interest in the six new PLs earlier this year (announced >>> 25 September 2023) with Global Exploration Technologies (Pty) Limited (“GET”), a wholly-owned subsidiary of ENRG Elements (ASX:ENRG) (“ENRG”).

Under the terms of the agreement, Kavango has now paid a total of AUD$1.5 million in cash to acquire 90% of the issued shares of Icon Trading (Pty) Ltd (“Icon”) and Ashmead Holdings (Pty) Ltd (“Ashmead”), two of GET’s subsidiary companies. Kavango will pay GET two further instalments of AUD$500,000 within 90 days and 180 days of the acquisition’s completion.

The names of the six new PLs, along with their holding company, status, and expiry date, are found below.

PL Number

Company

Status

Expiry Date

PL127/2017

Ashmead Holdings (Pty) Ltd

2nd Renewal 

30/06/2024

PL128/2017

Ashmead Holdings (Pty) Ltd

2nd Renewal 

30/06/2024

PL129/2017

Ashmead Holdings (Pty) Ltd

2nd Renewal 

30/06/2024

PL203/2016

Icon Trading (Pty) Ltd

3rd Renewal 

30/09/2025

PL204/2016

Icon Trading (Pty) Ltd

3rd Renewal 

30/09/2025

PL205/2016[1]

Icon Trading (Pty) Ltd

3rd Renewal 

30/09/2025

Figure 2: Details of the GET PLs

Planned work

Kavango is currently procuring satellite imagery to advance its structural interpretation and mapping of alterations across the new PLs. The Company will share more details of its upcoming work plans in due course.

The Company is also in the final stages of awarding a contract for the flying of an AEM survey over its KCB PLs. The goal will be to map possible sub-basin and domal structures.

Further information in respect of Kavango and its business interests is provided on the Company’s website at www.kavangoresources.com and on Twitter at #KAV.

For further information please contact:

Kavango Resources plc 

Ben Turney

+46 7697 406 06

First Equity (Broker)

Jason Robertson

+44 207 374 2212

Kavango Competent Person Statement

The technical information contained in this announcement pertaining to geology and exploration have been read and approved by Brett Grist BSc(Hons) FAusIMM (CP).  Mr Grist is a Fellow of the Australasian Institute of Mining and Metallurgy with Chartered Professional status.  Mr Grist has sufficient experience that is relevant to the exploration programmes and geology of the main styles of mineralisation and deposit types under consideration to act as a Qualified Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Kavango Resources #KAV – Director Shareholding

Following his purchase of 63,250,000 shares at 0.8p, Non Exec Director Peter Wynter-Bee now holds 5.47% of Kavango’s issued share capital or 71,468,182 shares.

#KAV Kavango Resources Plc – DIRECTOR/PDMR SHAREHOLDING

Non Exec Director Peter Wynter-Bee buys 63,250,000 shares at 0.8p and CEO Ben Turney buys 6,250,000 shares at 0.8p

Kavango Resources #KAV – Major shareholder Purebond now owns 52.46% of the Company

TR-1: Standard form for notification of major holdings – Purebond Limited of Wembley, England, now hold 685,000,000 shares (52.46%) of the Company 

 

 

% of voting rights attached to shares (total of 8.A)

% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)

Total of both in % (8.A + 8.B)

Total number of voting rights held in issuer

Resulting situation on the date on which threshold was crossed or reached

52.467532

0.000000

52.467532

685000000

Position of previous notification (if applicable)

26.609291

0.000000

26.609291

(1) Purebond Limited is a 100% Subsidiary of Solai Holdings Limited.
(2) 3 Named Directors of Solai Holdings Limited of which 2 are also Directors of Purebond Limited are also Trustees of Solai Pension Scheme which has 0.076595% (1,000,000 Shares) Voting Rights in Kavango Plc.

12. Date of Completion – 1-Nov-2023 London

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