28th Feb 2023 16:32
(Alliance News) - Kavango Resources on Tuesday said it was in talks regarding two possible acquisitions as it outlined three key areas of focus following a strategic review of its operations.
Shares in Kavango Resouces fell 20% to 1.02 pence in late trading in London on Tuesday.
The three areas identified by the southern Africa-focused metals exploration company were an updated exploration plan in Botswana, project financing to fund these exploration programmes and the acquisition of metal exploration projects in the region.
Following completion of its strategic financing in the fourth quarter of 2022, Kavango is well-positioned to take advantage of liquidity weakness in the global exploration sector.
Kavango said it has been evaluating a number of opportunities and is at advanced stages of due diligence for two possible acquisitions.
By Jeremy Cutler, Alliance News reporter
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