Kavango shares rise on back of expected revenue fr...

Kavango shares rise on back of expected revenue from Zimbabwe mining arm

Audrey Galawu

Kavango Resources stock has risen by 14% to .82 pence after the company announced that that it expects to move to revenue in March, and that it aims to double current production to one kilogramme of gold a month over the course of 2024.

“Current revenue at Hillside amounts to around AUD30 000 per month, and the operation there is already profitable. Continuous production at Zimbabwe gold projects secures the ground and forms an important part of any long-term development plan. Our objective is to become a significant gold producer in this country, and this is our first step towards achieving this goal. If all goes well, there are other production opportunities we hope to bring to Kavango,” said CE Ben Turney.

Kavango also announced the formation of new subsidiary in Zimbabwe, Kavango Mining Ltd and that it has signed its first contract to start immediate gold mining operations at its Hillside project.