LONDON – Kavango Resources PLC, a London-listed metals exploration and gold production company with operations focused in Southern Africa, has raised an additional £150,000 through a new share subscription.
The company issued 15 million new shares at 1.00 pence per share, alongside an extra US$129,035 raised through the issue of shares at the same price.
This latest capital injection follows closely after the firm’s £2.2 million UK placing and subscription, and a US$4.5 million share offering on the Victoria Falls Stock Exchange (VFEX) last month. The company said the new round of funding was prompted by continued investor demand for its shares in both Zimbabwe and the United Kingdom.
Kavango noted that the additional funds will bolster its exploration and development activities across its Southern African portfolio, which includes key gold and base metal projects.
On Friday, the company’s stock traded at 1.00 pence on the London market, down 2.2%, with a 12-month decline of 4.6%.
Despite recent fluctuations, analysts say the sustained investor interest in Kavango’s dual-market offering reflects confidence in the firm’s long-term resource potential and strategic positioning in the region’s growing mining sector.
