Kavango Resources plc, an exploration company targeting the discovery of world class mineral deposits in Botswana, is pleased to announce its unaudited financial results for the six months ended 30 June 2022.
· Successfully completed an oversubscribed placing raising gross proceeds of £750,000 (US$ 934,000);
· Expenditure in Botswana on exploration of US$1,634,000;
· Net current assets $1,610,000 (net cash, cash equivalents & trade receivables)
· Operating loss of US$883,000 (June 2021 – US$776,000);
· 3,300m “Proof of Concept” drill campaign completed in the Kalahari Suture Zone;
· 1,600m drill campaign completed at Ditau;
· Extensive geological mapping and soil sampling program completed across five Kalahari Copper Belt prospecting licences, resulting in definition of multiple drill targets.