Precious Metals
Posted By OrePulse
Published: 06 Mar, 2026 11:49
Kavango raises $8.4m through Zimbabwe, UK subscriptions
A total of 629.99-million new ordinary shares are to be issued under the subscriptions.
Chairperson and interim CEO Peter Wynter Bee has subscribed for 20-million of the shares in the UK subscription.
Proceeds from both subscriptions, in addition to the existing cash resources of the company and committed funds, amount to about $13.5-million, which are intended to be used for the further expansion of Hillside gold production, the acquisition of Nara and any associated litigation expenses to inter alia complete such acquisition, further exploration and general working capital in Zimbabwe.
The Hillside and Nara projects are both located in Zimbabwe.
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