Kavango Resources

Kavango Resources is a metals exploration and mining development company with projects in Zimbabwe (gold) and Botswana (copper). In Zimbabwe, Kavango has moved into production and is seeking to build a >10Moz business through consolidation. In Botswana, the Company has the largest remaining independent land package prospective for copper/silver deposits in the Kalahari Copper Belt.

Management Profile

Ben Turney, CEO

Ben joined the board of Kavango in January 2021 and became CEO in June of that year. Since then, Ben has overseen our extensive exploration and drilling across our projects, putting Kavango Resources in a strong position to make a major discovery. Ben led the move into Zimbabwe and have permanently relocated to that country to lead the business from the ground. Ben has raised >£27m for Kavango.

Dave Catterall, Head of Exploration

Dave joined Kavango in late 2022. Dave has >35 years experience in copper and precious metals exploration, predominantly in southern Africa. Dave led the exploration team that discovered the underground opportunity at Zone 5 in the Kalahari Copper Belt in Botswana that was sold to MMG in 2023 for $1.85bn.

What is your rationale for taking part in 121 Mining Investment?

We are keen to attract new shareholders to the company, as well as to potential potential JV partners to help us maximise the opportunity in our highly prospective land package.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

• Financing - thanks to the support of Purebond, we are one of the best financed companies in the sector.
• Drilling - we have invested into Equity Drilling Zimbabwe, who are led by a highly experienced team. We own 45% of ED Zim.
• Access to technology - our strategic partnerships have guaranteed us access to the best remote sensing technology available in southern Africa.
• Operational - We have recruited excellent people in Zimbabwe and Botswana with a high level of technical expertise and experience.

What do you think makes your company such a compelling investment?

We are a well financed exploration and mining development business with a high chance of moving into significant free cash flow generation over 2025 and with significant blue sky exploration upside.

What are the top 3 key investor takeaways?

1. We have a highly prospective land package in Zimbabwe and Botswana.

2. We use modern technology in an integrated exploration strategy that is primed for acceleration.

3. We are on the cusp of becoming a profitable exploration and mining development company (12 month target).