British Mining Firm Kavango Plans $13.5M Gold Production Push in Zimbabwe
British mining firm Kavango Resources announces $13.5M fundraising plan for Zimbabwe gold projects, targeting rapid production timeline with 18-month payback period through VFEX listing.
British-based Kavango Resources is accelerating its gold production ambitions in Zimbabwe, announcing plans to raise US$13.5 million through a secondary listing on the Victoria Falls Stock Exchange (VFEX). The London Stock Exchange-listed company aims to develop short-term, high-return projects in established mining areas, marking a significant shift in African market investment strategies.
Strategic Focus on Quick Returns
CEO Matthew Turney outlined the company's approach focusing on three-year mineable resources with anticipated 18-month payback periods. This strategy aligns with broader trends in regional economic development and investment frameworks.
Key Project Developments
- High-grade gold discovery of 11.79g/tonne at Bill's Luck Gold Mine
- Three major projects: Hillside, Nara Gold, and Leopard
- Planned 200-250 tonnes per day production capacity by H1 2026
Production Scale-Up Plans
The company's ambitious expansion plans come amid increasing scrutiny of mining investments, with regulatory oversight of resource sector investments tightening globally. Kavango's Bill's Luck site shows particular promise, with ongoing drilling targeting west-plunging ore shoots.
"Kavango's strategy in Zimbabwe is to discover new gold mines, in known producing areas, and bring these into production as quickly as we can," stated CEO Matthew Turney.
Operational Timeline
The company plans to establish its initial production facility at Bill's Luck, with current operations already processing ore from local contract miners at the Hillside milling centre. This provides valuable exploration data while generating early cash flow.
Jasmine Demraoui
Journalist in governance and climate reform, based in Windhoek.