Home » Kavango Resources (KAV) » #KAV Kavango Resources – KSZ JV Search: Financial Adviser Appointment

#KAV Kavango Resources – KSZ JV Search: Financial Adviser Appointment

Kavango Resources plc (LSE:KAV) (“Kavango”), the exploration company targeting the discovery of world-class mineral deposits in Botswana, is pleased to announce the appointment of Tamesis Partners LLP (“Tamesis”) to lead the Company’s efforts in seeking a partner or partners for the Kalahari Suture Zone Project (the “KSZ Project”).


–  Tamesis engaged to act as financial advisor to Kavango in respect of a possible corporate transaction involving the KSZ Project

–  Tamesis will work with Kavango to assist with identifying potential partners and provide advice on transaction structures to maximise value for Kavango shareholders

–  A data room (the “Data Room”) has been established to share data relating to the KSZ Project with interested parties under non-disclosure agreements


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

“Following publication of the Technical Review of the Kalahari Suture Zone, Kavango is now ready to engage formally with potential partners for future development of this large-scale exploration project.

We are particularly excited to be working with Tamesis Partners LLP, given their strong track record of transactions in the mining sector. The Tamesis team has extensive financial and technical expertise, which we expect will prove to be a significant help in our search for a partner. 

In parallel to this our exploration will continue on the ground in the KSZ. We have full confidence in our exploration model and ability to scale up. Our main focus in the coming months will be to act on the recommendations made in the Technical Review and build on the project’s growing momentum. We have a number of leads to pursue immediately and will continue advancing the B1, B3 and B4 conductors to drill ready status .”

Tamesis engagement

A corporate transaction for the KSZ could involve a joint venture, an earn-in, direct investment or other similar mechanism with a view to maximising Kavango’s exposure to the value of the project while minimising dilution to shareholders. Kavango has in place a number of NDAs with interested parties and intends to advance discussions with additional parties now that the Data Room is set up.

A modest monthly retainer fee will be paid by Kavango to Tamesis during the term of the agreement. An advisory success fee, part of which may be paid in shares, will be due upon Kavango entering into definitive documentation in respect of any transaction, and in return for equity funds or other consideration received by Kavango pursuant to an investment or transaction consideration.

In consideration for the provision of the transaction services, Tamesis will also be awarded with 8,333,334 warrants, exercisable for two years from the date of issuance and with an exercise price of 3p per share.

KSZ Project B ackground

The KSZ Project is located at the western margin of the Kaapvaal Craton.  This is a geologically favourable geodynamic location for mafic-ultramafic mineralisation as deep-seated structures are repeatedly activated and may enable ascent of fertile mantle derived magma to surface.  Kavango’s licences comprising the KSZ Project cover a combined 8,813km2. The exploration targets are for massive Ni-Cu-PGE sulphide associated with the Karoo Large Igneous Province (LIP), and/or for low-sulphide PGE or massive Ni-Cu-PGE sulphide associated with the regionally extensive Proterozoic (Tshane Complex) that extends over a length of 650km parallel to the craton margin.

A report completed recently by Richard Hornsey, a leading authority on nickel sulphide and platinum group element exploration, concluded that Kavango’s programmes to date have Provided geochemical proof of magmatic Ni-Cu-PGE mineralising processes (depletion and enrichment) throughout the KSZ, for both the Karoo and Proterozoic (Tshane Complex) intrusions and identified previously unrecognised PGE potential in the KSZ South. Deposit models including Norilsk, Insiswa, Eagle, Tamarack and Uitkomst are being followed, enabling Kavango to vector towards the right host rocks and upgrade future targeting.

Contact details

Parties interested in gaining access to the Data Room should please contact Kavango’s Chief Operating Officer, Brett Grist (bgrist@kavangoresources.com ) or Tamesis Partners LLP at the following contact details:

Richard Greenfield


+44 203 882 0712


Mitch Limb


+44 203 882 2868



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

For additional information please contact:

Kavango Resources plc

Brett Grist

b grist@kavangoresources.com

+44 203 633 1037

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

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