Kavango Resources PLC (LON:KAV)

Kavango Resources PLC (LON:KAV)


Share Price
3.97 p
Change
0.22 (5.87 %)
Market Cap
£6.36 m
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Kavango Resources PLC

KAVANGO RESOURCES PLC (“Kavango” or the “Company”)

is a mineral exploration company focused on Botswana. Its shares are listed on the London Stock Exchange (Standard List) with ticker KAV.L. At Admission on 31 July 2018 it raised gross proceeds of £1.5m.

Kavango has been set up by an experienced team of geologists and a geophysicist with a history of exploration discoveries in...

EPIC: KAV
Market: LSE:KAV
52-week High/Low: 4.61p / 1.40p
Sector: General Mining
Market Cap: £6.36 m
Website: www.kavangoresources.com
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Big Picture – A Deep Dive Examination of Kavango Resources PLC


Kavango Resources PLC Snapshot

ANTI-BRIBERY AND CORRUPTION

The Company has adopted an Anti-Corruption and Bribery Policy which applies to the Directors and all employees of the Company. The Board believes that the Group, through its internal controls, has appropriate procedures in place to reduce the risk of bribery and that all employees, agents, consultants and associated persons are made fully aware of the Group’s policies and procedures with respect to ethical behaviour, business conduct and transparency.

SOCIAL POLICY

Kavango aims to minimise potential negative social impacts while promoting opportunities and benefits for host communities.

The Company is committed to continually improving community development and community investment programmes through monitoring, measuring and managing our social and economic impacts; placing local people at the centre of development by helping to build their capacity to control their own development; develop programmes pro-actively that will ensure the sustainable welfare of communities in the event of a potential downscaling; upholding and promoting the human rights of our employees and contractors, our suppliers, and the communities in which we operate; recognise and respect indigenous people's culture, heritage and traditional rights and support the identification, recording, management and protection of indigenous cultural heritage; and manage the risk of public health threats amongst employees and local communities through community programmes, awareness, education and care.

ENVIRONMENTAL, HEALTH AND SAFETY POLICY

Kavango Minerals makes a conscious effort to identify and mitigate all critical environmental issues with input from relevant stakeholders during its prospecting operations. If the exploration phase is successful in identifying a significant resource, a comprehensive Environmental Impact Assessment will be undertaken as part of project feasibility study.

Kavango Minerals and its employees and subcontractor employees are responsible for fully complying with all local and international health and safety standards and regulations. The company is responsible for providing and maintaining a safe and healthy work environment for all persons engaged on all company sites. Management provides active leadership and support for occupational, health, safety, fire protection and loss contro

Objectives

 The policy objectives are achieved by:

  • Meaningful involvement and participation of all employees
  • Providing safe and appropriate equipment and working conditions
  • The right of an employee to refuse to perform dangerous or unsafe work
  • Training employees to carry out their work safely
  • Investigating the causes of accidents and incidents and applying effective and immediate preventive and remedial action
  • Promoting the Health and Safety Policy as a way of life in all aspects at the work place and local community
  • Encourage all personnel to be responsible for their own safety by complying with legislative, company and industry standards
  • Integrating EHS considerations into all activities
  • Preventing identifiable hazards to eliminate work related injury, illness and environmental impact
  • Systematically identifying health, safety and environmental issues and managing them
  • Commitment to protecting the environment

Measures in place include:

  • Provision of medical aid, first aid kits and equipment against adverse conditions
  • Minimizing environmental footprint during our exploration activities and rehabilitation
  • Careful rubbish disposal
  • Prevention of bushfires
  • No night driving
  • Minimal field access clearing
  • Drill site rehabilitation and drill hole protection
  • Very strict vehicle maintenance for safe transportation

Our commitment is Safety First

THE KALAHARI SUTURE ZONE PROJECT (“KSZ”)

Kavango’s main focus is in the southwest of Botswana is the 450 x 50km magnetic anomaly known as the Kalahari Suture Zone (KSZ). 

Analysis of previously drilled core suggests that the magnetic anomaly is due to mafic intrusions, many of which are considered to be feeder zones to the vast basalt lava flows which once covered much of southern Africa. These intrusions display distinct similarities to the feeder zones that host the giant Norilsk deposits in Siberia. Some of the deposits are at surface. The project area covers about two thirds of the KSZ as well as unexplained magnetic anomalies on its eastern flank.

A helicopter-borne electromagnetic survey covering 2,000 line-kms over the northern part of the KSZ near the small town of Hukuntsi was completed in September 2018 and 26 conductive zone anomalies were identified. Some of these coincided with geochemical anomalies identified previously by Kavango. These anomalies will be investigated on the ground. Results will be announced as they become available.

Image

Southwest Botswana on the border with Namibia and South Africa - areas marked in red are existing PL’s; areas marked in blue are PL’s acquired in October 2018.

THE DITAU CAMP PROJECT (“DITAU”)

Within the KSZ Project, Kavango’s geologists have identified a 7km long magnetic body above which a strong geochemical anomaly has been identified together with a coincident gravity anomaly. Ground geophysics and detailed geochemistry are currently in progress. A drilling program is planned for early in 2019.

Image

THE KAVANGO COPPER PROJECT (“KCP”)

This project involves the exploration of an area close to the NW Botswana border with Namibia and covers 3 licences totalling 694km2. 

To date geophysics, soil sampling and drilling has been carried out and over $1.5m spent on the project to date.

Image

Geological setting of the extension of the DRC-Zambian copperbelt into NW Botswana

 

Shareholder Number of Ordinary Shares Percentage of issued Ordinary Share capital following Admission
Charles Michael Moles (*) 15,092,492 9.38%
Hillary Gumbo (*) 11,092,500 6.89%
Jose Mederios 13,492,500 8.38%
Peter O Anderton 13,492,500 8.38%
Douglas Wright (*) 9,400,001 5.84%
John Forrest (*) 7,644,998 4.75%
Michael Foster (*) 6,365,000 3.95%

* Denotes a Director/Senior Manager

- Lesley Wright, Douglas Wright's wife will hold 1,340,000 Ordinary Shares

- Teresa Foster, Michael Foster's wife will hold 1,000,000 Ordinary Shares

ADDRESS

Kavango Resources plc
46 New Broad Street
London EC2M 1JH

EMAIL

 

DIRECTORS

Douglas Wright
Michael Foster
Charles Michael Moles

COMPANY SECRETARY

John Forrest

REGISTERED OFFICE

46 New Broad Street
London
EC2M 1JH

+44 (0)2036515705
 

AUDITORS AND REPORTING ACCOUNTANTS

PKF Littlejohn LLP
Westferry Circus
Canary Wharf
London
E14 4HD

CORPORATE ADVISER

City & Westminster Corporate Finance LLP

50 Jermyn Street
London
SW1Y 6LX

LEGAL ADVISERS TO THE COMPANY AS TO ENGLISH LAW

Keystone Law
48 Chancery Lane
London
WC2A 1JF
 

MAURITIAN LEGAL COUNSEL

YJK Legal
Unit 3
Level 12
Standard Chartered Tower
19 Bank Street
Cybercity
Mauritius

BOTSWANA LEGAL COUNSEL

Armstrongs
2nd Floor
Acacia House
Plot 74538, Prime Plaza 
Cnr Khama Crescent Ext & PG Matante Rd,
New CBD 
P.O. Box 1368, Gaborone, Botswana

REGISTRAR

Share Registrars Limited
The Courtyard
17 West Street
Farnham
Surrey
GU9 7DR
 

PLACING AGENT

SI Capital
46 Bridge Street
Godalming
Surrey
GU7 1HL

COMPETENT PERSON

MSA
Henley House
Greenacres Office Park
Cnr Victory and Rustenburg Roads
Victory Park
2195 Johannesburg

PRINCIPAL BANKERS

Natwest Bank Plc
Fenchurch Street
London

ADDRESS

Kavango Resources plc
46 New Broad Street
London EC2M 1JH

EMAIL

 

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