LONDON, UK: Kavango Resources plc (LSE:KAV), a metals exploration company focused on Southern Africa, has acquired a 15% stake in Pambili Natural Resources Corporation (TSX-V:PNN), a gold mining, exploration, and development company active in Matabeleland, southern Zimbabwe.

Kavango converted a US$250,000 loan and a US$75,000 premium into common shares in Pambili, which recently completed the acquisition of the Golden Valley project, a historic high-grade gold mine with a functional processing plant and stamp mill.

Pambili plans to resume underground mining at Golden Valley in Q1 2024 and conduct surface exploration using Kavango’s field team. Golden Valley is located on a different greenstone belt from Kavango’s other projects in Matabeleland, giving Kavango exposure to a third prospective area.

Kavango and Pambili will also share operational, exploration and administrative functions, resulting in cost savings and operational efficiencies.

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