Business
Half-year Report
Half-year Report.
About this update from Kavango Resources Plc
[{"type":"text","content":"\n \n \n PRESS RELEASE\n \n \n \n \n \n \n \n \n 09 September 2022\n \n \n \n \n \n \n KAVANGO RESOURCES PLC (\"KAVANGO\" OR \"THE COMPANY\")\n \n \n \n \n Interim Results\n \n \n \n Kavango Resources plc, an exploration company targeting the discovery of world class mineral deposits in Botswana, is pleased to announce its unaudited financial results for the six months ended 30 June 2022.\n \n \n \n \n \n \n SUMMARY\n \n \n \n ·\n Successfully completed an oversubscribed placing raising gross proceeds of £750,000 (US$ 934,000);\n \n \n ·\n Expenditure in Botswana on exploration of US$1,634,000;\n \n \n ·\n Net current assets $1,610,000 (net cash, cash equivalents & trade receivables)\n \n \n ·\n Operating loss of US$883,000 (June 2021 - US$776,000);\n \n \n ·\n 3,300m \"Proof of Concept\" drill campaign completed in the Kalahari Suture Zone;\n \n \n ·\n 1,600m drill campaign completed at Ditau;\n \n \n ·\n Extensive geological mapping and soil sampling program completed across five Kalahari Copper Belt prospecting licences, resulting in definition of multiple drill targets.\n \n \n \n \n \n The Interim Management Report and financial results are set out in the following pages.\n \n \n \n \n \n \n \n \n Contacts\n \n \n \n \n \n \n \n \n Kavango Resources plc\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Ben Turney\n \n \n \n \n +46 7697 406 06\n \n \n \n \n \n \n \n \n [email protected]\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n First Equity\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Jason Robertson\n \n \n \n \n +44 207 374 2212\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n SI Capital Limited (Broker)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Nick Emerson/Alan Gunn\n \n \n \n \n +44 1483 413500\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n INTERIM MANAGEMENT REPORT 30 JUNE 2022\n \n \n \n \n \n \n Kavango continued to make good progress through the first half of 2022, with active work programmes on all three of our projects, accompanied by further enhancements to o...