Kavango Resources (KAV)

Sector:

Mining

0.93p
   
  • Change Today:
      0.075p
  • 52 Week High: 1.53
  • 52 Week Low: 0.54
  • Currency: UK Pounds
  • Shares Issued: 1,305.57m
  • Volume: 3,891,381
  • Market Cap: £12.08m
  • RiskGrade: 164

Kavango granted two new licences in Kalahari Copper Belt

By Josh White

Date: Wednesday 03 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Botswana-focussed mineral exploration company Kavango Resources has been granted two prospecting licences in the Botswana section of the "highly prospective" Kalahari Copper Belt, it announced on Wednesday.
The London-listed firm said the two new licences are directly to the south west of Sandfire Resources' T3 and A4 Dome copper-silver discoveries.

It said the licences - PL036/2020 and PL037/2020 - are 100% owned contiguous licence areas, covering 1,294.2 square kilometres, immediately south of the town of Ghanzi.

The licence terms were for an initial three years, which could be extended to a maximum of seven years, and carried a combined first year work commitment of £75,000.

Kavango said the granting increased its exposure to the Kalahari Copper Belt, following the joint venture agreement with LVR GeoExplorers on two strategically located licences, as it announced in February.

The board described the Kalahari as a "key emerging exploration province" for major sedimentary copper-silver deposits.

It added that the acquisition of further licences was underway, with the easing of lockdown restrictions expected to begin in Botswana from the start of June.

That, it said, meant it would reinitiate field exploration as soon as possible.

"We are delighted to have secured these two new prospecting licences," said chief executive officer Michael Foster.

"It is thanks to our in-country presence and knowledge that Kavango has been able to add to its portfolio of strategic exploration assets in the highly prospective Kalahari Copper Belt.

"Given the positioning of these two new licences, in such close proximity to major copper-silver discoveries, we are eager to commence exploration here as lockdown restrictions are loosened in Botswana."

At 1137 BST, shares in Kavango Resources were up 9.52% at 1.15p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

KAV Market Data

Currency UK Pounds
Share Price 0.93p
Change Today 0.075p
% Change 8.82 %
52 Week High 1.53
52 Week Low 0.54
Volume 3,891,381
Shares Issued 1,305.57m
Market Cap £12.08m
RiskGrade 164

KAV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.66% above the market average0.66% above the market average0.66% above the market average0.66% above the market average0.66% above the market average
8.4% below the sector average8.4% below the sector average8.4% below the sector average8.4% below the sector average8.4% below the sector average
Price Trend
15.43% below the market average15.43% below the market average15.43% below the market average15.43% below the market average15.43% below the market average
35.66% above the sector average35.66% above the sector average35.66% above the sector average35.66% above the sector average35.66% above the sector average
Income Not Available
Growth Not Available

KAV Dividends

No dividends found

Trades for 28-Mar-2024

Time Volume / Share Price
16:10 907,648 @ 0.85p
16:10 1,000,000 @ 0.85p
16:14 82,728 @ 0.86p
16:04 101,005 @ 0.89p
11:59 500,000 @ 0.89p

KAV Key Personnel

CEO Ben Turney

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