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New UK Investor Magazine podcast- Taylor Wimpey #TW, Tekcapital #TEK & Kavango Resources #KAV

investor

The UK Investor Magazine Podcast is joined by Alan Green as we delve into this market’s key themes and a selection of UK equities.

We start by exploring the current rally in equities and whether it is a bear market rally, or something that can be sustained. Markets welcomed the recent instalment from the Fed which sparked a rally, sending the S&P 500 up 10% from the lows and the NASDAQ up 16%.

UK house prices rose 11% year-on-year in July as the housing market shrugged off cost-of-living crisis concerns. However, the Nationwide Chief Economist pointed to signs of a softening which hit housebuilding shares heavily yesterday.

Today, Taylor Wimpey shares bounced back following a strong first half update. We look at their results and outlook for the second half of the year.

Tekcapital released half year results last week following their presentation at the UK Investor Magazine Investor presentation in July. The company is to IPO a number of their portfolio companies in the coming months which could increase their portfolios NAV.

We cover the latest update by Kavango Resources on their activities in the Kalahari Copper Belt.

Taylor Wimpey, Tekcapital, and a Bear Market Rally with Alan Green

Kavango Resources #KAV – Kalahari Copper Belt target definition PL036/2020

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) (“Kavango”) provides an update on drill targeting at its Kalahari Copper Belt (KCB) licence PL036/2020.

Highlights

–  Initial high-resolution, close-spaced soil geochemical programme complete at PL036/2020 (the “Targeting Programme”)

–  5,145  soil samples collected

–  Large-scale programme undertaken, giving high-resolution over target areas

–  Particular focus over mapped Ngwako Pan-D’kar formational contact

–  4 significant geochemical features consisting of +15ppm Cu anomalies (peak 110ppm) delineated (the “Targets”)

–  The 4 Targets appear to fit previously mapped geology, including the potential “fold nose” over Acacia

–  3 of the Targets conform to previously identified Acacia, Morula (western portion) and Happy target areas

–  1 new target area identified (“Kudu”) to the north east of Acacia

–  Kavango has provided a series of maps showing the Targets:

https://www.kavangoresources.com/media-library/news-release-media/rns03august2022

–  Follow up work to include:

–  Infill soil sampling

–  Upgraded interpretation of existing Airborne Magnetics and Airborne EM

–  CSAMT geophysics

–  RC drill programme

–  The Targeting Programme remains ongoing on licences PL082/2018 and on the Mamuno licence package.

–  Expected completion before end of August

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

“Through an intensive soil sampling program across our KCB licences, we have sought to achieve enhanced target resolution ahead of drilling. Not only have we achieved this, but through the close spacing of samples we have also identified a previously unidentified and prospective structure, which is now being followed up.

The combined soil sampling and geological mapping, which has recently successfully identified multiple instances of the key Ngwako Pan-D’kar formational contact in our licences, is helping us sharpen our drill targets. The next steps will be to upgrade our geophysical interpretation of data we acquired in 2021 and complete some infill soil sampling where necessary. Our goal is to ensure that when we drill the KCB, we will have the optimal chance of success.”

Kalahari Copper Belt Overview

As announced on 8 July 2022, Kavango Resources identified the presence of an important lithological control of copper/silver mineralisation in the KCB, across several of its prospecting licences. The feature that Kavango has located, the Ngwako Pan-D’Kar formational contact point, is closely associated with multiple copper-silver deposits and discoveries elsewhere in the KCB.

This formational contact represents a chemical Reduction-Oxidation (Redox) boundary between the underlying oxidised Ngwako Pan Formation and the overlying reduced D’kar formation. Economic grades of mineralisation can be found along or in close proximity to this contact due to intense shearing, folding, and tensional failure between the rock layers.

Most known deposits in the KCB share some common characteristics

–  Commonly localised in reduced horizons in the lower D’kar Formation and above the oxidised Ngwako Formation,

–  Mineralisation remobilised into the limbs of anticlinal dome and basin structures

–  Mineralisation locally remobilised along cross cutting structures into higher levels of the D’kar through veins and shear zones to form high grade copper deposits

KCB Exploration Strategy

Based on the Company’s understanding of the mineralisation models in the KCB, Kavango embarked on a 3-tier exploration programme:

1.  Understanding the geology using:

–  Aeromagnetics

–  Geological mapping

–  Satellite imagery interpretation

–  Lithogeochemistry

–  Petrology

–  Soil geochemistry

–  Drilling

2.  Identification of significant structures using:

–  Aeromagnetics

–  Satellite imagery interpretation

–  Geological mapping

3.  Detection of mineralisation using:

–  Soil geochemistry

–  Airborne electromagnetics  

–  Drilling

The Targeting Programme is currently in progress on PLs 036/2020, PL082/2018 and Mamuno Licences (PLs 049/2020 and PL052/2020).

Kalahari Copper Belt geochemical survey

 

 

Line spacing

Sample Station spacing

TotalPlannedSamples

Status

PL036/2020

Combined 400m and 800m

50

5201

Largely complete

PL049/2020 and PL052/2020

800m

50

1319

In progress

PL082/2018

800m

50

3179

In progress

 

Total

9699

Sampling Methodology

–  Excavation to 30-40cm below the surface

–  Sample is collected from bottom of hole and sieved to approximately 200g of -180um fraction

–  Sample is analysed using the company’s in-house Vanta XRF Analyser in geochemistry mode with three beams switched on for a total analytical time of 120 seconds per sample. Analyses are done using a desk-top docking station to ensure a consistent presentation distance between the sample and analyser window

–  Reference materials (of known values) are inserted after every 25 samples and at the end and beginning of each batch

–  Resultant data is then used to generate user factors for normalising the analytical results prior to interpretation

–  Selected samples are also sent to an independent laboratory in South Africa for multi-element analyses by conventional means

PL036/2020 soil geochemistry results

PL

Planned

completed

outstanding

PL036/2020

5201

5145

 

56

Remaining samples will be collected as and when access to land is available.

Four key copper-in-soil geochemical features have been delineated:

1.  Acacia

A wide anomaly around the central part of the fold nose of the ‘Acacia fold’. Possible source of this anomaly could be radial axial fold fractures, tapping into the Ngwako Pan/D’kar contact along the axis of a shallowly SW plunging anticline. Maximum value is 56ppm Cu, with 5 values above 20ppm Cu. Coincident Zn anomalism (+20ppm Zn) identified

2.  Morula (western portion)

A wide anomaly just south of the Acacia fold nose. Measuring 3km x 3km with a general NE-SW trend parallel to the regional stratigraphy. Maximum value is 38ppm Cu. A previous orientation survey associated this anomaly with a calcrete platform coincident with a drainage feature

3.  Happy

A low-tenor teardrop shaped anomaly to the south. 9km long and 1km at its widest. Best defined by the +15ppm Cu values. Maximum value is 25ppm Cu. Located in the centre of a possible anticline where the Ngwako Pan Formation is not exposed at surface. This anomaly has supporting anomalous Zn values (+20ppm Zn)

4.  Kudu

A previously unrecognised NE-SW trending zone of anomalous Cu values. 18km long (non-continuous) NE-SW trend, defined by 8 values in excess of 30ppm Cu; maximum value is 110ppm Cu. Trend is distinct and ‘tight’, defined by a maximum of 3 values above 20ppm at its widest. This trend is sub-parallel to stratigraphy

The narrow focus suggests this could be a steeply dipping feature, and/or a sharp structural feature such as a fault. It is also immediately adjacent to what Kavango’s geologists have mapped as a structural repetition of the key Ngwako Pan-D’kar contact

Kavango has provided a series of maps showing the Targets:

https://www.kavangoresources.com/media-library/news-release-media/rns03august2022

Planned follow-up for PL036/2020

–  Infill soil sampling

–  Ground truthing of the anomalous areas

–  Updated interpretation of existing Airborne Magnetic and Airborne EM data

–  Plans to carry out a Controlled Source Audio Magnetotelluric (CSAMT) survey and inversions aimed at elucidating subsurface structure

–  Collation and correlation of all the data sets

–  Generation of drill targets

–  RC drill programme

Ahead of drilling, further soil geochemical results are expected to be released by Kavango from work on its licences PL082/2018 (considered to be a possible analogue for the ‘Banana Zone’ deposit, which sits to the immediate south of Ghanzi Ridge and is owned by Khoemacau Copper Mining Pty Ltd), and on the Mamuno licences, adjacent to the border with Namibia, and close to the central axis of the KCB. The combined results will then be used for target ranking.

Further information in respect of the Company 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

bturney@kavangoresources.com

 First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker) 

+44 1483 413500

Nick Emerson

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’.

Power Metal Resources #POW – Quarterly Business Update

Power Metal Resources PLC (LON:POW) the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces the quarterly business update for shareholders.

Paul Johnson, Chief Executive Officer of Power Metal Resources plc, commented:

First Class Metals, into which we sold our Schreiber-Hemlo interests is nearing its planned listing; we recently conditionally disposed of our stake in the Botswana Kanye JV to our partner Kavango Resources; and we have Golden Metal Resources (Nevada, USA focused) nearing completion of its IPO preparations, with First Development Resources’ planned listing process (Australia focused) well underway. We expect more crystallisation events to occur from our still extensive portfolio.

Crystallisation of value into strategic investments bolsters our balance sheet considerably and offers the potential for considerable capital gains, alongside providing a major pool of available working capital to the Company.  However, what enthuses us even more is the future direction of the Company and the exploration potential offered from within our retained portfolio.

We would reinforce our commitment to growing a uranium focus in the Company, with the energy metal slated for a continuing resurgence as the world continues in its journey towards significantly increased reliance on nuclear power generation. Going forward, we will also focus our energy and resources on the more rapid advancement of certain retained exploration projects, including notably our two remaining Botswana interests in the Molopo Farms Complex and Tati Greenstone Belt projects.”

GUIDANCE FOR READERS

The tables below include the latest position of each project and our operational plans over the course of the next three months. 

Projects are grouped into the following categories to provide additional clarity to investors on the project status and near term plans:

–  Priority exploration projects

–  Project disposals or IPO processes underway

–  Projects with next steps to be determined pending receipt of further information

Below the project tables, additional information is provided covering new opportunities, business management, finance and compliance.

Readers are also encouraged to review Power Metal’s corporate website and presentation which are regularly updated and are available through the following links:

Website: www.powermetalresources.com

Corporate Presentation: https://www.powermetalresources.com/presentation/

PRIORITY EXPLORATION PROJECTS

Project

Latest Position & Forward Plans

Athabasca Uranium

Saskatchewan, Canada

(Uranium)

POW 100%

 

Power Metal currently holds 7 properties with 3 newly acquired properties to be transferred to it, as announced 26 July 2022 and which together cover 721km2surrounding the Athabasca Basin.

 

Detailed data compilation has been completed and external datarooms opened for third parties in respect of 7 properties. We have completed hyperspectral data analysis over 4 properties with the findings leading to the planned launch of ground exploration at those properties shortly.

 

In addition to exploration of retained uranium projects, the Company is working on corporate options in relation to certain of its Athabasca uranium interests.

 

Authier North

Quebec, Canada

(Lithium)

POW earn-in to 100%

 

The Company continues to monitor progress being made by Sayona Mining (ASX: SYA) who control the neighbouring Authier Lithium Project.

 

On 12 July 2022 Power Metal announced the decision to proceed into year 2 of the earn-in to a 100% interest in Authier North.

 

Ground exploration plans are being finalised with work expected to commence this quarter.

 

Molopo Farms Complex Project

Botswana

(Nickel – Copper – Platinum Group Element)

POW: Effective Economic Interest is currently 52.6% increasing  to 87.71% subject to completion of the KKME shares acquisition & restructuring announced 18.5.22.

 

Power Metal secured a conditional agreement to acquire an additional 58.7% of shares in project partner Kalahari Key Mineral Exploration Pty Limited (“KKME”) as announced on 18 July 2022:

https://www.londonstockexchange.com/news-article/POW/kalahari-key-botswana-acquisition/15458701

This acquisition, conditional on regulatory approval, will see Power Metal holding 87.71% of KKME which will hold 100% of the Molopo Farms Complex Project (“Molopo Farms”).

The next step is diamond drilling to follow up on the discovery of nickel sulphides in the first drill campaign and seeking an economic and large-scale discovery.

Planning is underway now for this next drill programme which, subject to completion of the agreement to acquire an additional 58.7% of shares in KKME, we expect to commence in the autumn.

Simultaneously, we have prepared and opened a Molopo Farms dataroom providing all project information for interested third parties to review. All such engagements will be under non-disclosure arrangements at this time.

Tati Project

Botswana

(Gold – Nickel)

POW: 100%

 

The Company announced the results from a maiden drill programme at the Tati Project on 4 April 2022 and this may be viewed through the following link:

 

https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-drill-programme-results/15396365

 

Drilling confirmed 3 metres of 5.17g/t gold from 9 metres downhole, representing shallow gold mineralisation.  Analysis led to additional gold prospective ground being covered by a new prospecting licence (“PL”) application, which was granted in April 2022 as announced to the market:

 

https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-new-licence-granted/15422038

 

Recently the Company’s technical team visited the new PL to conduct site inspections and mapping, confirming extensive historical gold workings at the Cherished Hope gold mine as well as large fines dumps which may be capable of near-term revenue generation through toll processing of gold:

 

https://www.londonstockexchange.com/news-article/POW/tati-project-botswana-exploration-update/15543783

 

As a result of the findings from the site visit undertaken, we have expedited plans including further volumentric analysis and gold sampling of fines dumps and a reverse circulation (“RC”) drill programme is expected to commence in September/October of this year.

 

 

PROJECT DISPOSALS OR IPO PROCESSES UNDERWAY

Note: other project packages within the Power Metal portfolio are also in earlier stages of spin-out preparations in addition to those listed below.

Project

Latest Position

Kanye Resources

Conditional Disposal to Kavango Resources

On 8 July 2022 Power Metal announced the conditional disposal of its Kanye Resources interest to its joint-venture partner Kavango Resources plc (LON:KAV)(“Kavango”).

The disposal is subject to the publication of a prospectus by Kavango including provision for the transaction.

Full terms and disposal consideration payable to Power Metal may be viewed in the announcement linked below:

https://www.londonstockexchange.com/news-article/POW/conditional-disposal-of-kanye-resources-interests/15532470

First Class Metals PLC (FCM)

Schreiber-Hemlo, Ontario, Canada

(Gold – Base Metals)

POW c.36%

 

Power Metal currently has an interest of 36.3% in FCM following the FCM pre-IPO financing which raised £486,000 in 2021. FCM is seeking a listing on the London capital markets which is expected to occur shortly.

First Class Metals has 100% ownership of 7 claim blocks covering over 180km² in the Hemlo – Schreiber greenstone belt of Ontario, Canada.

The North Hemlo flagship property covers over 90km2 and sits just north of Barrick Gold Corp’s Hemlo gold mine. The North Hemlo property has abundant showings of gold/copper/zinc/nickel. 

In the east of the North Hemlo property sits the Pickle Lake joint venture with Palladium One (TSX:PDM) which is the subject of a current drill programme focussing on nickel/copper targets.

Golden Metal Resources PLC (GMR)

Nevada, USA

Gold – Base Metals

POW 83.13%

 

Power Metal provided a Golden Metal Resources (“Golden Metal”) company update on 19 July 2022 which may be viewed below:

https://www.londonstockexchange.com/news-article/POW/golden-metal-resources-company-update/15547371

Following the pre-IPO financing which raised £750,000 in late 2021 preparation for the planned listing of Golden Metal is near to completion and this will lead into the IPO financing, and subject to regulatory approvals, a planned listing on the London capital markets expected to occur this quarter.

Golden Metal is active from an exploration perspective with an induced polarisation (“IP”) survey underway over the Pilot Mountain project and a high-resolution soil geochemical survey active across the Garfield project.

First Development Resources Ltd (FDR)

Western Australia

(Gold – Copper – Rare Earth Elements – Uranium – Lithium)

POW: 62.12%

 

FDR has undertaken multiple exploration and corporate work streams in recent months. 

A detailed company update will be released to the market shortly providing an update which will cover:

–  Final preparations for the Wallal project diamond drill programme

–  Exploration findings from the Braeside West, Ripon Hills and Selta projects

–  Update with regard to the planned listing process now fully underway following the completion of a £1.125m pre-IPO financing as announced in June 2022.

 

New Ballarat Gold Corporation PLC (NBCG)

Victoria, Australia

(Gold)

POW: 49.9% 50.1% JV Partner Red Rock Resources PLC LON:RRR)

 

Through its Australian operating subsidiary, Red Rock Australasia Pty Ltd, NBGC has a substantial licence footprint within the Victoria Goldfields, Australia.  This comprises 14 granted exploration licences covering 1,832km2 and 5 licence applications covering 493km2.

A planned listing of NBGC has taken longer than anticipated but remains the focus of the company with a potential planned listing in the London or Australian capital markets later this year.

Much work has been undertaken recently to advance the licences held in NBGC including continuing exploration work by our in-country operational team. Also through the advancement of licence applications into granted status, which has now been achieved for 79% of the application footprint.

Recent licence grants include EL007330 located northeast of Ballarat and this newly granted licence covers the Ajax gold mine which historically produced 312,789oz gold at an average grade of 14.8g/t Au in the 1920s (“Ajax”). Further information in our announcement of 24 May 2022:

https://www.londonstockexchange.com/news-article/POW/victorian-gold-fields-grant-of-key-licences/15465313

The addition of the Ajax gold mine above was further supplemented by a transaction to acquire EL5535 which covers the historical Berringa gold mine just west of Ballaratwhich has historical production of 293,250 ounces of gold from 1898-1952, at an average grade of 8.3g/t (“Berringa”). Further information in our announcement of 6 July 2022:

https://www.londonstockexchange.com/news-article/POW/acquisition-of-historic-berringa-gold-mine/15528927

The mined sections of the Ajax and Berringa trends are thought by RRAL to be among the top half dozen historic underground gold mines of Victoria and contain significant exploration targets. Both mine areas are within 30km of existing and not fully utilised treatment plants.

Work is currently being undertaken to better understand historical mining activities, residual gold resource potential and drill targets at both Ajax and Berringa, with a view to diamond drilling later this year.

This work is being undertaken alongside various work streams in respect of the planned listing.

 

PROJECTS WITH NEXT STEPS TO BE DETERMINED

Project

Latest Position & Key Forward Events

Alamo Gold Project

Arizona, USA

(Gold)

POW: Earn-in to 75%

 

Various technical reports have now been received and reviewed following work undertaken at the Alamo gold project in Arizona.

 

The findings are inconclusive to date and require additional work to be undertaken to further the technical understanding of the project’s potential.

 

We are working with our partners in Arizona to review the technical work required and the costs attaching.  We are also looking at the earn-in which may need to be restructured given the findings thus far.

 

Gawler Project

South Australia

(Gold, Copper)

POW: 100%

The Gawler Project comprises two licence applications (submitted October 2021 and covering 1,994km2) details of which may be viewed through the following link:

https://www.londonstockexchange.com/news-article/POW/new-australia-copper-gold-opportunity/15189456

 

Recently Power Metal Resources Australia Pty Limited, Power Metal’s wholly owned operating company, was advised that the Department of Energy and Mining (“DEM”) proposed granting of one licence application ELA2021/00163 (999km2) for a period of 6 years.  The initial expenditure commitment for the licence is AUD$100,000 in total over 2 years, and Power Metal has paid AUD$23,055.10 in respect of first year rent and administration fees to the DEM.  The Company now awaits final regulatory sign-off and release of granted licence documentation.

 

Internal technical review by the Power Metal team has been undertaken and an initial exploration programme is being finalised in preparation for the launch of ground exploration following receipt of the granted licence documentation.

 

Power Metal awaits progress with regard to the granting of ELA2021/00162 (995km2)  and will similarly launch planned ground exploration subject to the granting of the licence.

 

Haneti Project

Tanzania

(Polymetallic)

POW: 35% (65% JV Partner Katoro Gold plc LON:KAT)

 

Drill results were announced for the Haneti Project in May 2022.  Drilling identified the targeted nickel, but not in economically significant intersections.  The technical results from the programme are expected to lead to further target development at Haneti for ongoing exploration.

 

In addition data from the programme is now being made available to third parties previously interested in the Haneti project, to augment information previously supplied up to Q1 2020.

 

Power Metal is keen to progress the Haneti project through further targeted exploration and/or corporate activity.

 

Silver Peak Project

British Columbia, Canada

(Silver)

POW: 30%

Liaison with our Canadian partner to finalise commercial initiatives for the project continue.  An important next step is a planned site visit which is scheduled for early August 2022, which is expected to assist expediting matters.

 

NEW OPPORTUNITIES

Project

Latest Position

Power Metal Resources plc

The near-term focus will remain on the exploration of existing interests and the crystallisation of value through the potential listing of spin-out vehicles and project value generative disposals.

The primary acquisition focus for the foreseeable future is uranium projects, however the Company does not rule out other acquisitions of exceptional opportunities.

Power Capital Investments Limited

Global Resource Project Incubator

(Multi-Commodity)

POW: 100%

 

Power Capital Investments  (“Power Capital”) continues to work on a number of initiatives targeting individual or smaller corporate owned opportunities. 

This is occurring against a backdrop of intensive activity across the Power Metal business and will for now remain a modest source of activity as we seek to advance our major business interests.

 

MANAGEMENT – FINANCIAL – COMPLIANCE

Project

Latest Position

Board

 

The Board currently comprises:

Scott Richardson Brown – Interim Non-executive Chairman

Paul Johnson – Chief Executive Officer

Ed Shaw – Non-executive Director

Power Metal has been engaging with a number of potential board candidates for Power Metal and associated companies.

We have successfully secured full boards for Golden Metal and First Development Resources in advance of their planned listings. 

For Power Metal we are undertaking due diligence on new candidates and hope to be in a position to announce new appointments in the near term.

Management and Team

 

Power Metal has built a strong operational team which along with the board now comprises ten team members based out of our UK office. 

We work extensively overseas and have developed equally strong operational partnerships in countries around the world, forming an efficient and cost effective hub-and-spoke operational model.

Power Metal is actively seeking to bring new team members in to support the growth in business and we continue to invite talented individuals from all backgrounds who feel they can contribute to our work to reach out and contact us through the following link:

https://www.powermetalresources.com/join-us/

Financial Position

 

Working Capital

Working capital comprises cash and listed investments (“Working Capital”).

As at 26/07/22 Working Capital amounted to £1.88m. This is available for payment of corporate costs and exploration expenditure across business operations.

Pre-IPO Vehicles

Power Metal has holdings in three current vehicles undertaking a planned IPO which, valued at the historical pre-IPO valuation level, amount to a total value of £6.92m as per the table below:

POW Holding at Pre-IPO Valuation

£

First Class Metals

1,028,766

Golden Metal Resources

3,325,000

First Development Resources

2,562,500

Total

6,916,266

In addition, Power Metal is seeking with JV partners (Red Rock Resources PLC) to undertake a listing of NBGC, the pre-IPO valuation of which is not confirmed at the current time.

The listing of further project packages may be undertaken which will be incorporated into the above list in due course.

Project Investments & Intercompany Loans

As at 30/06/2022 Power Metal’s remaining assets comprising project investments and intercompany loans, amounting to £5.08m.

Future Financing Sources

The Company has multiple sources of additional financing, not all of which may be necessary or occur in the foreseeable future:

–  As an AIM listed vehicle traditional equity financing can be undertaken to raise additional sums where considered necessary.

 

–  Through the exercise of financing and transactional warrants or the exercise of director, team member or adviser options. A full breakdown of all warrants and options outstanding is available on the Company’s website through the following link:

 

https://www.powermetalresources.com/warrants-options-outstanding/

 

–  In addition to the above, the Company will benefit from the planned listings of the pre-IPO vehicles as outlined above which will, if successful and in line with expected valuations on listing, add considerably to overall Power Metal asset value.

 

–  It is anticipated that further value generative events may occur including additional spin-outs into new listed vehicles and outright disposal of certain business interests. 

Audit and Compliance

 

Power Metal with the support of One Advisory, completed its interim results for the half year ended 31 March 2022, which in line with best practice were reviewed for comment by the Company’s auditors PKF. The interim results were published on 27 June 2022.

The Company’s year end is 30 September 2022 and it is expected that the audited financial accounts for the full year will be published in February 2023.

Power Metal is now well advanced with preparation of a new environmental, social and governance (“ESG”) initiative which will include:

–  Appointment of an ESG Officer for Power Metal and all associated companies. 

–  Design, implementation of new and wide ranging ESG policies across the Company and embedded at local project or investment level for all Company activities.

Training of all staff members to develop Company-wide core ESG understanding, with in-depth training where required to maintain optimal ESG capability at all levels.

A separate ESG dedicated announcement will be published by the Company in due course.

 

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc – Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries. 

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes. 

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work.

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets. 

Exploration Work Overview

Power Metal has internal exploration programmes completed or underway, with results awaited, as outlined in the table below.

Exploration work programmes may also be underway within planned IPO vehicles where Power Metal has a material interest the findings from which will be released on their respective websites, with simultaneous updates through Power Metal regulatory announcements where required:

www.firstclassmetalsplc.com

www.goldenmetalresources.com

www.firstdevelopmentresources.com

Power Metal also holds a material investment in Kavango Resources plc with exploration updates available through their regulatory announcements and on their website:

www.kavangoresources.com

 

Project

Location

Current

POW %

Work Completed or Underway

Results Awaited

Athabasca Uranium

Canada

100%

Hyperspectral data analysis conducted across all 7 properties. Updating to 7 data rooms for third party review.

Finalise review of data from 3 properties.  Prepare for summer exploration programme across 4 properties.

Authier North Lithium

Canada

Earn-in to 100%

Property Evaluation Report completed.

Update covering exploration plans for target areas identified during the Evaluation.

Molopo Farms

Botswana

53%#

Comprehensive data review complete and establishment of data room for third party review.

Finalise next exploration steps and action plan.

Tati Project

Botswana

100%

Site visit with mapping of gold workings and mine dumps.

Exploration planning underway including further mapping, sampling and launch of an RC drill programme.

Victoria Goldfields

Australia

49.9%

Diamond drill programme completed. Review of Ajax & Berringa mine remaining resource potential.

 

Final drill programme results analysis and resource potential analysis from former high-grade producing mines in granted licences.

# subject to completion of acquisition announced 18.5.22 interest will increase to 87.71%

Kavango Resources #KAV July Exclusive – Alan Green discusses the Kanye Resources acquisition & independent valuation with CEO Ben Turney & CFO Brett Grist

In this exclusive Kavango Resources #KAV interview, Alan Green discusses the Kanye Resources acquisition & independent valuation with CEO Ben Turney & CFO Brett Grist. We discuss the independent valuation at $8m announced earlier today, and Brett then presents some of the opportunities across some of the Kanye assets in the Kalahari Copper Belt (KCB), followed by the LVR licenses also in the KCB. Ben then outlines the latest developments at the flagship Kalahari Suture Zone (KSZ), and the recent discovery of a cluster of three EM Conductors in close proximity to one another. Ben then wraps up with a series of upcoming milestones for investors to watch out for.

Vox Markets Podcast – Alan Green on Berkeley Group, Kavango Resources #KAV & ECR Minerals #ECR

Alan Green CEO of Brand Communications explains why we have humidity with high temperatures in the UK, the Conservative Party leadership contest and talks about the following stocks:

Berkeley Group #BKG 

Kavango Resources #KAV 

ECR Minerals #ECR

https://www.voxmarkets.co.uk/articles/alan-green-on-berkeley-group-kavango-resources-ecr-minerals-78d6934/

UK Investor Magazine podcast – Alan Green discusses markets, Whitbread #WTB, Kavango Resources #KAV & Sovereign Metals #SVML

Equities outlook, Whitbread, and Kavango Resources with Alan Green

Alan Green joins the UK Investor Magazine as we delve into the recent market volatility and explore the outlook for equity markets.

We start by looking at upcoming central bank action with the Federal Reserve and Bank of England poised to hike rates in the coming hours and days. Market expectations point to a 75 bps jump in US rates as the Federal Reserve meets this evening. Our focus shifts to the market perceptions of the tightening cycle and whether investors will take confidence from a ‘managed’ recession caused by rising rates, but allows for plenty of future easing with rates around 2%.

Whitbread have been a major beneficiary of the economic reopening and enjoyed a 300% year-on-year increase in sales, helping shares rise 5% on the day.

Kavango Resources is developing a series of projects in Botswana including the Kalahari Copper Belt and Ditau Camp project. We look at their recent updates and relationship with Power Metal Resources who are set to present at the UK Investor Magazine Summer Investor Evening 30th June.

Register for the UK Investor Magazine Summer Investor Evening here

Sovereign Metals are preparing to release an updated scoping study and we recap the key milestones to date and the significance of their Kasiya Titanium Rutile & Graphite project in Malawi.

Power Metal Resources #POW – Ditau Project – Drilling and Geophysics Update

Power Metal Resources plc (LON:POW), the London listed exploration company seeking large-scale metal discoveries across its global project portfolio announces a drilling update in respect of the Ditau Camp Project (“Ditau”), located in southwestern Botswana. Ditau is considered prospective for carbonatite hosted rare-earth element (“REE”), base metal and possible precious metal mineralisation.

Ditau is held within a 50/50 Joint Venture (“Kanye Resources”) with London-listed Kavango Resources plc (LSE:KAV) (“Kavango”). Kavango is the operator.

Project Background

The third diamond core drill hole of the programme, drill hole DITDD005 on the i1 Target is now complete, and the drill rig has relocated to the i8 target, where drilling has now commenced on hole DITDD006. The final siting of DITDD006 followed the completion of a Controlled Source Audio-Magnetotelluric (CSAMT) ground geophysical survey and survey data inversion modelling.

The CSAMT survey imagery has provided enhanced interpretative model of the geology and structural setting of the i8 Target beneath the Kalahari sands and sediments. Images highlighting the i8 Target with a CSAMT section overlay can be found at the link below:

Ditau drilling and AMT update – Power Metal Resources plc (LON: POW)

Additionally, Kanye has shipped the first batch of drill core samples from hole DITDD004 for testing at a certified laboratory in South Africa, with fast-track analyses requested.

Highlights:

–    Diamond core drillhole DITDD006 has commenced on the i8 Target:

–    CSAMT survey completed over i8 has provided an enhanced targeting model enabling drill collar location, hole dip and azimuth optimisation.

–    The i8 Target is highlighted by a circa 4km diameter ring structure which was interpreted from airborne magnetic survey data.

–    This target was the subject of 5.5-line km of CSAMT surveying, using both high and low frequency configurations.

–    Inversion processing of the CSAMT data over the i8 Target, which was completed by an external geophysical consultant, has shown bedrock signatures below the i8 Target magnetic anomaly that are significantly different from the surrounding flat lying signatures which are interpreted to be sedimentary country rock. 

–    These geophysical signatures appear disturbed in dip and vertical position and are interpreted to relate to an intrusive body.  These signatures are significantly different to those seen in the CSAMT survey for the i10 and i1 Targets.

–    Drillhole DITDD006 is targeting the ring of the magnetic geophysics high, where it is coincident with resistivity geophysics high features, near the edge of the i8 Target.

–    Drillhole DITDD005, targeting the i1 Target, is now complete with a final down-hole depth of 343.9m.

–    DITDD005 intersected extensive conglomerate with a measurable magnetic mineral content.

–    The interpretation of these findings is to be aided by an expanded CSAMT survey programme – which includes additional line-km over the i1 target.

–    Update in respect of Drillhole DITDD004, targeting the i10 Target:

–    DITDD004 intersected thick successions of highly magnetic brecciated rock units, confirmed by magnetic susceptibility readings on drill core, with the magnetism interpreted as being related to hydrothermal alteration processes.

–    First batch of drill core samples have been cut and shipped for multi-element analyses (including select fire-assays), at a certified laboratory located in South Africa, with fast-turnaround ‘rush analysis’ requested.

–    Further sample batches from hole DITDD004 will be dispatched during the coming weeks.

–    A separate batch of samples for petrographic analysis are currently in preparation.

–    High frequency CSAMT geophysics survey underway on the i10 Target, with the purpose of augmenting the existing AMT survey dataset, to assist further modelling and interpretation of the range of lithologies intersected in the DITDD004 drill hole.

Paul Johnson, Chief Executive Officer of Power Metal Resources PLC, commented:

“The Ditau drilling is moving at significant pace through the key targets and today we announce the commencement of hole DITDD006, which is located on the i8 Target, the third main area being tested as part of this ongoing programme. As you will see from the AMT images linked above, the i8 target is particularly interesting.

Photographs of the drill core from  hole DITDD004  are now available to view in the Gallery section of the Company’s website, the core samples have been submitted to the assay laboratory in South Africa and the results  are eagerly anticipated with the faster-turnaround ‘rush’ analytical service requested.

There is an intensely active period underway in the Kanye JV and I look to providing further updates to the market in the near future.”

Target I8

The inversion modelling  of the CSAMT and aeromagnetic survey data has led Kanye to conclude that the i8 Target anomaly could be caused by a buried intrusive body, approximately 4km in diameter.  The inversions modelling, undertaken by an external geophysical consultant, shows ‘intrusive’ signatures below a magnetic ring anomaly, that are significantly different to the surrounding flat lying ‘sedimentary’ signatures.

The CSAMT survey has detected signatures that appear disturbed in their dip and vertical position. There is also possible thrust faulting that has been identified by the inversions.

The area of disturbance is radially symmetric with the aeromagnetic ring structure and is interpreted to be a possible intrusion. Further, there are CSAMT signatures that are coincident with the outer magnetic ring that are protruding high into the resistivity section, further suggesting the possibility of an intrusive body.  This signature is significantly different from that interpreted from preliminary CSAMT data collected on the i10 and i1 Targets.

The target conforms to an idealised model for a carbonatite.  The composition of this is now being tested by drillhole DITDD006, planned to a depth of 400m. 

Background to Targeting

Kanye has identified 12 geophysical structures/targets at Ditau (i1 through i12 Targets), which could be possible carbonatites and/or intrusive complexes that may host carbonatites. Nine of these targets are particularly well defined.

There are two target types at Ditau:

1)    Discrete kilometre-scale carbonatite pipe targets; and

2)    Larger multi-kilometre scale intrusive complex targets that may also be host to carbonatite intrusives.

The 12 Ditau geophysical targets are not known to have been tested for REEs historically. Kanye identified these targets, which range in size from circa 2km to 18km in diameter, using modern geophysical interpretative techniques. Kanye has used combined and integrated Airborne Magnetics, Ground Magnetics and CSAMT surveys in the exploration of the Project and for drill targeting.

Recently completed and inverted CSAMT surveying of the i8 Target, using both high and low frequency configurations, has resulted in high resolution of the basement below the Kalahari sand and sediment cover, providing enhanced target definition. As a result, Kanye is now running both high and low frequency CSAMT surveys over the i1 and i10 Targets to further enhance the interpretation of these, post drilling.

Completed Holes

A total of three drillholes for a combined core length of 1,037.3m have now been completed as part of the 2022 drilling programme. Mindea Exploration and Drilling Services (Pty) (“Mindea”) is conducting the drilling. Analytical results will be provided once assays are received, compiled, and interpreted.

2022 Drill Programme Summary Table (WGS 84 UTM Z34S):

Target

Drillhole

UTM E

UTM N

Azimuth (°)

Inclination (°)

Final depth

i10

DITDD003

640350

7231120

000

-80

300.1m

i10

DITDD004

640350

7230500

000

-80

393.3m

i1

DITDD005

650000

7246515

000

-80

343.9m

i8

DITDD006

654100

7233400

180

-80

In progress

 

POW/KAV Joint Venture at Ditau

Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with London-listed Kavango Resources plc (LSE:KAV) (“Kavango”). Kavango is the operator.

Competent Person Statement

The technical information contained in this disclosure has been read and approved by Mr Nick O’Reilly (MSc, DIC, MIMMM, MAusIMM, FGS), who is a qualified geologist and acts as the Competent Person under the AIM Rules – Note for Mining and Oil & Gas Companies. Mr O’Reilly is a Principal consultant working for Mining Analyst Consulting Ltd which has been retained by Power Metal Resources PLC to provide technical support. 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR. 

For further information please visit https://www.powermetalresources.com/ or contact:

Power Metal Resources plc

Paul Johnson (Chief Executive Officer)

+44 (0) 7766 465 617

 

SP Angel Corporate Finance (Nomad and Joint Broker)

Ewan Leggat/Charlie Bouverat

+44 (0) 20 3470 0470

 

SI Capital Limited (Joint Broker)

Nick Emerson                                                                                                           

+44 (0) 1483 413 500

 

First Equity Limited (Joint Broker)

David Cockbill/Jason Robertson

+44 (0) 20 7330 1883

NOTES TO EDITORS

Power Metal Resources plc – Background

Power Metal Resources plc (LON:POW) is an AIM listed metals exploration company which finances and manages global resource projects and is seeking large scale metal discoveries.

The Company has a principal focus on opportunities offering district scale potential across a global portfolio including precious, base and strategic metal exploration in North America, Africa and Australia.

Project interests range from early-stage greenfield exploration to later-stage prospects currently subject to drill programmes.

Power Metal will develop projects internally or through strategic joint ventures until a project becomes ready for disposal through outright sale or separate listing on a recognised stock exchange thereby crystallising the value generated from our internal exploration and development work. 

Value generated through disposals will be deployed internally to drive the Company’s growth or may be returned to shareholders through share buy backs, dividends or in-specie distributions of assets.

Power Metal Exploration Programmes Underway/Results Awaited

Power Metal has exploration programmes completed or underway, with results awaited, as outlined below:

 

Project

Location

Current

POW %

Work Completed or Underway

Results Awaited

Alamo Gold Project

USA

Earn-in to 75%

Excavation of multiple test pits and mapping & sampling.

Field and assay results from on-site work programme.

Athabasca Uranium

Canada

100%

Data compilation across uranium properties

Interpretation results from all Properties complete. Next steps upcoming.

Authier North Lithium

Canada

Earn-in to 100%

Soil & rock sampling completed

Technical Review of exploration results & define next exploration steps.

Ditau Project

Botswana

50%

Drill programme focused on key targets notably drilling of potential carbonatites and targeting rare-earth elements.

Field updates and receipt & review of laboratory assay results.

Kalahari Copper Belt

Botswana

50%

Exploration programme underway across the South Ghanzi Project and further exploration at the more recently acquired South Ghanzi Extension and Mamuno licence areas

Field programme findings and defined drill targets for near term drilling.

Molopo Farms

Botswana

53%#

Review of recent exploration findings.

Determine next exploration steps and action plan.

Victoria Goldfields

Australia

49.9%

Diamond drill programme completed.

 

Field updates and receipt & review of laboratory assay results.

Paterson Projects

Australia

82.78%*

Wallal passive seismic and 2D seismic processing work programme completed.

Review of historical data and target generation for Ripon Hills & Braeside West projects.

 

Findings from multiple work programmes including final approvals and preparations for planned deep diamond drilling.

Selta Project

Australia

82.78%*

Lithium review underway including desktop and field mapping and sampling.

Findings from lithium review exploration programme.

* Reducing to 62.12% after Completion of the Pre-IPO Financing

# subject to completion of acquisition announced 18.5.22 interest will increase to 87.71%

Kavango Resources #KAV – Ditau drilling and AMT update

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) has successfully completed hole DITDD005 on the “i1” target (“Target i1”) at the Ditau Camp Project (“Ditau”). The Company has now moved the drill rig to the “i8” target (“Target i8”), Hole DITDD006, following the completion of a Controlled Source Audio-Magnetotelluric (CSAMT) ground geophysical survey and inversion model.

The CSAMT survey has provided enhanced resolution of the bedrock beneath the Kalahari sands and sediments of Target i8. As a result of the upgrade in Target i8, based on this newly acquired data, drilling has commenced here.

Kavango has provided an inversion of the Target i8 Aeromagnetic data with an CSAMT section overlay on its website:

https://www.kavangoresources.com/media-library/news-release-media/rns15june2022

Meanwhile, Kavango has also shipped the first batch of samples from Hole DITDD004 for testing at a certified laboratory in South Africa, with ‘rush analyses’ requested.

Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW)

Highlights

–    Drillhole DITDD006 has commencement on target i8.

–    Enhanced CSAMT survey completed that has provided additional bedrock resolution, resulting in prioritisation of this drillhole on the i8 target

–    Target i8 is a ~4km diameter ring structure interpreted from airborne magnetic survey data

–    This target has been the subject of 5.5-line km of CSAMT surveying, using both high and low frequency configurations

–    Interpretation of the inversion of the CSAMT for Target i8, by an external geophysical consultant, has shown bedrock signatures that are significantly different from the surrounding flat lying signatures, which are interpreted to be sedimentary country rock. 

–    The CSAMT survey has detected signatures that appear disturbed in dip and vertical position, inferring a phase of an intrusive.  These signatures are significantly different from that interpreted from preliminary CSAMT data for targets i10 and i1.

–    Hole DITDD006 will target the ring/magnetic high, coincident with the upwards protruding resistivity highs, at the edge of the i8 target

–    Drillhole DITDD005 completed; final depth 343.90 m

–    This targeted Target i1

–    DITDD005 intersected extensive conglomerate with a measurable magnetic mineral content

–    Interpretation is to be aided by an expanded CSAMT programme

–    Drillhole DITDD004 update

–    DITDD004 intersected extensive high magnetic mineral content confirmed via magnetic susceptibility readings, possible breccias and overprinting  hydrothermal alteration

–    First batch of samples has been cut and shipped for multi-element analyses, including some fire assays, to a certified laboratory in South Africa, with ‘rush’ analysis requested

–    Further batch will be dispatched during June

–    Separate batch of petrology samples are in preparation

–    Low frequency AMT survey underway aimed at augmenting existing high frequency CSAMT data, to assist interpretation of the range of lithologies identified at this target

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

“I would like to thank our team and our drillers, Equity Drilling/Mindea, for making rapid progress at Ditau, which has enabled us to begin drilling the fourth hole of this campaign in  fewer than two months since we started.

All our hard work to improve the company over the last 18 months is paying off handsomely. We are seeing this both in the acceleration of our work programmes and our deployment of enhanced technology in the field.

Our recent CSAMT surveys illustrate perfectly how much progress Kavango has made.

Our team has identified a possible intrusive body at i8 using CSAMT. This development has guided our exploration in real-time. We  will now test the i8 Target by drilling hole DITDD006.

Kavango has proven the effectiveness of the CSAMT technique at Ditau. As such, we have decided to perform further surveys on the recently drilled i10 and i1 targets. We are hopeful this data, together with what we learn from the drill cores, will sharpen future targeting in our hunt for economic mineralisation.”

Background to targeting

Kavango has identified 12 geophysical structures/targets at Ditau (targets i1 through i12), which the Company believes could be possible carbonatites and/or intrusive complexes that may host carbonatites. 9 of these targets are particularly well defined.

There are two target types at Ditau:

1)  Discrete kilometre-scale carbonatite pipe targets, and

2)  Larger multi-kilometre scale intrusive complex targets that may also be host to carbonatite intrusives.

The 12 Ditau geophysical targets are not known to have been tested for REEs, historically. Kavango identified these targets, which range in size from ~2km to ~18km in diameter, using modern geophysical interpretative techniques. Kavango has used combined and integrated Airborne Magnetics, Ground Magnetics and Controlled Source Audio-Magnetotelluric (“CSAMT”) surveys in the exploration of the property and for drill targeting.

Recently completed and inverted CSAMT surveying of Target i8, using both high and low frequency configurations, has resulted in high resolution of the basement below the Kalahari sand and sediment cover, providing target definition. As a result, Kavango is now running both high and low frequency CSAMT surveys over Target i1 and Target i10 to enhance the interpretation of these, post drilling.

Target i8

A combination of inversions from CSAMT and Aeromagnetic data has lead Kavango to conclude that Target i8 could represent an intrusive body, approximately 4 km in diameter.

Interpretation of the inversion of the CSAMT for Target i8, by an external geophysical consultant, has shown bedrock signatures that are significantly different from the surrounding flat lying signatures, which are interpreted to be sedimentary country rock.

The CSAMT survey has detected signatures that appear disturbed in dip and vertical position. There is also possible trust faulting.

The area of disturbance is radially symmetric with the aeromagnetic ring structure and is interpreted to be a possible intrusion. Further, there are CSAMT signatures that are coincident with the outer magnetic ring, that are protruding high into the resistivity section, inferring a phase of an intrusive.  This signature is significantly different from that interpreted from preliminary CSAMT data for targets i10 and i1.

The target conforms to an idealized model for a intrusive.  The composition of this is now being tested by drilling of hole DITDD006, planned to a depth of 400m.

Completed holes

A table summarising the holes completed at Ditau under the 2022 program is provided below. Analytical results will be provided once assays are complete.

Target

Drillhole

Planned
UTM E

Planned
UTM N

Planned azimuth

Planned inclination

Final depth

i10

DITDD003

640350

7231120

000

-80

300.14m

i10

DITDD004

640350

7230500

000

-80

393.29m

i1

DITDD005

650000

7246515

000

-80

343.90m

i8

DITDD006

654100

7233400

180

-80

In progress

The POW/KAV Joint Venture at Ditau

Ditau is held in a 50/50 Joint Venture (“Kanye Resources”) with Power Metal Resources plc (LSE:POW) (“Power Metal”). Kavango is the operator. Mindea Exploration and Drilling Services (Pty) (“Mindea”) is conducting the drilling, on a part-cash, part-equity basis.

Further information in respect of the Company 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

bturney@kavangoresources.com

+46 7697 406 06

First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson             

SI Capital Limited (Joint Broker)     

+44 1483 413500

Nick Emerson

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.

NOTES TO EDITORS

THE DITAU CAMP PROJECT

The Ditau Camp Project comprises two Prospecting Licences (“PLs”) (PL169/2012 & PL010/2019) that cover an area of 1,386km2. Geophysical analyses by Kavango in the two PLs have identified 12 “geophysical structures” of which 9 have clear indications of being “ring structures”.

The “ring structures” have the potential to host carbonatite and other intrusive rocks.

Carbonatites are the principal source of rare earth elements (“REEs”) including the much sought-after elements Neodymium (Nd) and Praseodymium (Pr), which are used in the manufacture of the new generation of electric vehicles (EVs), magnets and other high-tech applications. Other elements/minerals associated with carbonatites include Niobium, Phosphates, Monazite, Strontium, Magnetite and Copper.

Mafic intrusives have potential to host base and precious metals, as seen in the Molopo Farms Project, Selebi Phikwe and Tati Nickel deposits in Botswana.

Kavango Resources #KAV – Annual Financial Report

 

Kavango Resources plc (LSE:KAV) announces that its Annual Report and Accounts for the year ended 31 December 2021 has been published [and posted to shareholders].

As announced on 7 June 2022 the Company’s Annual General Meeting will be held at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS at 11 a.m. on 08 July 2022 (the “AGM”).

A copy of the notice of its annual general meeting (the “2022 AGM Notice”) and form of proxy for the AGM, along with the 2021 annual report and financial statements, is available to download from the Company’s website ( www.kavangoresources.com ).

In accordance with Listing Rule 9.6.1 of the UK Financial Conduct Authority (“FCA”), a copy of the 2022 AGM Notice and a form of proxy for the AGM will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

Further information in respect of the Company 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

bturney@kavangoresources.com

+46 7697 406 06

  First Equity (Joint Broker)

+44 207 374 2212

Jason Robertson 

SI Capital Limited (Joint Broker)

+44 1483 413500

Nick Emerson

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

Kavango Resources #KAV – Calling of AGM

Botswana focussed metals exploration company Kavango Resources plc (LSE:KAV) is pleased to announce the Company’s Annual General Meeting will be held at the offices of the Company’s Solicitors, Druces LLP, Salisbury House, London Wall, London EC2M 5PS at 11 a.m. on 08 July 2022 (the “AGM”).

Kavango will post a copy of the notice of its annual general meeting (the “2022 AGM Notice”) and form of proxy for the AGM, along with the 2021 annual report and financial statements to shareholders on Monday 13 June 2022, which will be available to download from the Company’s website ( www.kavangoresources.com ) on the same day.

In accordance with Listing Rule 9.6.1 of the UK Financial Conduct Authority (“FCA”), a copy of the 2022 AGM Notice and a form of proxy for the AGM will be submitted to the FCA via the National Storage Mechanism and will shortly be available to the public for inspection at:

https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism

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