In a clear signal of robust market confidence, London and Victoria Falls Stock Exchange-listed mining junior Kavango Resources Plc (LSE:KAV, VFEX:KAV.VX) has mobilised an additional £150,000 in the United Kingdom and US$129,035 in Zimbabwe, responding to significant investor demand following its recent major fundraisings on both stock exchanges, Mining Zimbabwe can report.
By Rudairo Mapuranga
The Southern Africa-focused metals exploration and gold production company announced the successful completion of this supplementary capital raise, which follows the substantial £2.2 million UK placing and subscription and the US$4.5 million VFEX subscription it announced last month.
The company confirmed that the proceeds from this latest fundraise will be channelled towards strengthening its working capital and financing ongoing exploration and mine development work across its operations in Southern Africa. This strategic allocation is consistent with the company’s previously announced objectives to aggressively advance its projects.
This additional capital injection underscores the growing investor appetite for Kavango’s dual-strategy approach, which involves developing near-term commercial gold production in Zimbabwe’s proven greenstone belts while simultaneously exploring for large-scale copper systems in Botswana’s Kalahari Copper Belt.
In total, Kavango has issued 24,557,448 new ordinary shares through this round, comprising 15,000,000 shares in the UK and 9,557,448 shares in Zimbabwe, all priced at £0.01 per share. The new UK shares were admitted to the Official List of the Financial Conduct Authority and to trading on the Main Market of the London Stock Exchange, while the VFEX shares followed a similar process before being transferred to Zimbabwe for listing and trading on the Victoria Falls Stock Exchange.
Market analysts view this successful additional fundraising as a positive indicator of Kavango’s strengthening market position and its ability to attract continued investment for its expansion strategy in the region. The company’s secondary listing on the VFEX in September 2025 has provided it with enhanced access to Zimbabwean capital, further solidifying its commitment to the country’s mining sector.
Following the admission of these new shares, Kavango Resources’ total number of ordinary shares in issue will stand at 3,634,380,762.
