23rd Aug 2022 13:53
Kavango Resources PLC - London-based mineral explorer focused on Botswana - Hires Tamesis Partners LLP to lead efforts in finding a partner for the Kalahari suture zone project, located at the western margin of the Kaapvaal Craton. Says the investment bank will act as financial advisor, assisting with "identifying potential partners and provide advice on transaction structures to maximise value for Kavango shareholders". Kavango says a data room has been established to share financial details on the KSZ project.
Chief Executive Officer Ben Turney says: "In parallel to this our exploration will continue on the ground in the KSZ. We have full confidence in our exploration model and ability to scale up."
Kavango adds that a corporate transaction for the KSZ could involve a joint venture, an earn-in, direct investment or other similar mechanism.
Current stock price: 1.89 pence
12-month change: down 55%
By Xindi Wei; [email protected]
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