Kavango Resources plc has agreed to extend the completion date for its acquisition of the Nara Gold Project in Filabusi, marking the second such delay as parties work to finalise legal documentation for the 45-claim asset, Mining Zimbabwe can report.
By Rudairo Mapuranga
The London and Victoria Falls-listed exploration and gold production company stated that the extension will provide the necessary time to complete outstanding legal formalities related to the transaction. Both Kavango and the seller remain committed to closing the deal, according to an official statement released on March 24.
“I am delighted to be working with Simon Bowman toward the completion of this sale and purchase,” said Peter Wynter Bee, Chairman and Interim CEO of Kavango.
Timeline of the Acquisition
The company first announced on July 1, 2025, that it had exercised an option to acquire 100% of the Nara project, which consists of 45 contiguous gold claims located in Matabeleland South near Bulawayo.
The acquisition was originally expected to close by late 2025; however, the parties agreed in December to push the deadline to February 27, 2026. This latest extension follows a March 2 announcement in which Kavango indicated that completion was still pending.
Strategic Importance to Kavango’s Portfolio
Nara represents a strategic addition to Kavango’s Zimbabwe portfolio, complementing its flagship Hillside Gold Project in the Filabusi Greenstone Belt.
The company has been steadily expanding its footprint in Zimbabwe’s gold sector. Earlier this month, Kavango successfully raised approximately US$8.4 million through parallel subscriptions in the UK and Zimbabwe to fund production growth and aggressive exploration.
