Chronicle Editor
IN a strategic move to democratise investment opportunities in the flourishing gold exploration and mining sector of Zimbabwe, London Stock Exchange-listed Kavango Resources is actively pursuing a secondary listing on the Victoria Falls Stock Exchange (VFEX).
The company aims to grant ordinary Zimbabweans the chance to invest in Kavango Resources and partake in the immense potential of gold exploration and mining within the country.
Kavango Resources, is an established exploration company with a strong foothold in the global market, which recognises the untapped potential of Zimbabwe’s gold mining industry and is committed to fostering inclusive economic growth by extending investment opportunities to local citizens.
The company targets world-class base and precious metal discoveries in Zimbabwe and Botswana, and has said Zimbabwe has the potential of having millions worth of gold that are yet to be discovered.
Alongside its specialist partners, Kavango uses modern exploration to uncover mineralisation in historically overlooked and under-developed project areas. With an initial investment of US$2,5 million poured into exploratory efforts, in Zimbabwe, since last year, Kavango Resources is positioning itself at the forefront of emerging opportunities in the precious metal sector.
The decision to seek a secondary listing in the VFEX underscores the company’s dedication to promoting financial inclusivity and empowering Zimbabweans. VFEX, a subsidiary of the Zimbabwe Stock Exchange (ZSE) was designed to attract global capital and bolster foreign investor confidence in Zimbabwe’s capital markets.
As a premier securities exchange in Zimbabwe, VFEX offers a conducive platform for international companies like Kavango Resources to broaden their investor base and engage with local stakeholders.
By facilitating a secondary listing on the VFEX, Kavango Resources aims to create a direct link between the company’s global operations and the Zimbabwean investment community, thereby enabling citizens to participate in the company’s growth trajectory and the promising prospects of the country’s gold exploration sector.
Kavango has built up a portfolio of projects in Zimbabwe covering historic high-grade mines, with the company’s first three major projects showing that indeed there are huge prospects in the country.
With their initial investment of US$2,5 million poured into exploratory efforts since last year, Kavango Resources has since begun discovery drilling at the three mines identified — Nara, Hillside and Leopard.
The company is now examining its potential for hosting large-scale, bulk minable gold deposits using modern surveying and drilling techniques.
“We want to ensure local Zimbabwe citizens have an opportunity to invest in the opportunities we’re pursuing,” said Mr Ben Turney, chief executive officer (CEO) of Kavango Resources.
“We also want to make sure the work we’re doing can contribute as much as possible to the Zimbabwean economy, in particular Vision 2030 of turning Zimbabwe into an upper-middle-income economy.”
Zimbabwe, renowned for its substantial gold reserves and rich mining heritage, presents a compelling investment landscape for companies like Kavango Resources.
With the potential for significant mineral discoveries and resource development, the country offers a unique opportunity for investors to capitalise on the burgeoning gold exploration sector.
Kavango Resources’ commitment to promoting local participation in this sector aligns with the broader vision of fostering sustainable economic development and creating shared prosperity for Zimbabwean communities.
Bulk mining has been the primary driver behind soaring gold production in Western Australia over the past four decades. But it has yet to be introduced at scale across Zimbabwe despite the nation’s rich gold mining heritage, the exploration company has set its sights on unlocking new gold deposits in the country.
Kavango has made a strong start in its efforts to introduce bulk mining at scale since entering Zimbabwe in late 2022.
Already, the company has commenced profitable, scalable gold production at its Hillside Mine. The Hillside project consists of 44 gold claims covering 503 hectares.
It is currently completing drilling at the Hillside project area, where it is following up on the high-grade mineralised zone it discovered earlier this year at depth.
The company has identified many zones with both near-surface high-grade and bulk mining potential across all three of its project areas.
Mr Turney said Kavango’s proposed VFEX listing will also provide a new source of funding to the company, supporting his plans for expanded exploration in Zimbabwe.
“Zimbabwe’s potential for hosting a multitude of large-scale, bulk minable gold deposits is vast. We’ve made a very strong start in the country, but we want to accelerate to an even greater pace of exploration from here,” he said.
“This will take place across both our existing projects and new opportunities currently in our pipeline of claim packages covering historic high-grade mines.”
Mr Turney expressed gratitude for the support they had received from officials at the VFEX and other Government departments they had worked with since moving into the country full throttle last year.
“The President has constantly preached that Zimbabwe is open for business and we are surely experiencing that first-hand, Zida has been especially supportive so has the Ministry of Mines and Mining Development, we have been well supported and we appreciate that and are now looking forward to contributing towards Vision 2030.
“The process to enable us to list at the VFEX has also been smooth sailing. Everyone understands our vision and where we are headed and we will also play our part in developing this wonderful nation,” he said.
The secondary listing initiative not only signifies Kavango Resources’ dedication to promoting financial inclusion but also underscores the company’s confidence in Zimbabwe’s economic potential and its commitment to contributing to the country’s mining industry.
By facilitating direct investment access for ordinary Zimbabweans, Kavango Resources seeks to engender a more inclusive and participatory investment landscape, thereby amplifying the socio-economic benefits of the burgeoning gold exploration and mining activities.
Kavango Resources’ pursuit of a secondary listing in the VFEX represents a significant step towards democratising investment opportunities and empowering local investors to partake in the vast potential of Zimbabwe’s gold exploration and mining sector.
As the company endeavours to forge a direct link with the Zimbabwean investment community, it underscores the transformative impact of inclusive investment practices in driving sustainable economic growth and fostering shared prosperity for the nation.
Online Reporter