Kavango extends timeline to finalise Nara Gold project acquisition

Kavango Resources Plc has secured a further extension to finalise its acquisition of the Nara Gold Project, as the London-listed miner moves to conclude a deal it first initiated last year.

The Southern Africa-focused metals exploration and gold production company confirmed that the revised timeline will allow both parties to complete outstanding legal formalities tied to the transaction.

Kavango initially signalled its intention to acquire 100% of the Nara Gold Project on 1 July 2025, after exercising an option over the asset, which comprises 45 gold claims. On 9 December 2025, the company announced an extension of the completion deadline to 27 February 2026. Following an update on 2 March 2026, the parties have now agreed to push the deadline further.

In its latest update on Monday, Chief Executive Officer Peter Wynter Bee reaffirmed the company's commitment to closing the transaction.

"I am delighted to be working with Simon Bowman towards the completion of this sale and purchase," he said.

The deal, however, has not been without complications. Kavango disclosed earlier this month that the seller, Simon John Bowman, operating through Romjack Mining, had defaulted on the acquisition agreement. This prompted the company to initiate legal steps aimed at enforcing the original contract or pursuing compensation for breach.

The Nara Gold Project is situated in the Filabusi Greenstone Belt, an area with a long history of gold production. The asset includes the historically significant Killarney and N1 mines.

Exploration work has already confirmed the presence of gold-bearing systems extending beneath old workings, indicating that mineralisation may continue at depth. In addition, the project hosts two substantial tailings dumps estimated to contain around 6,000 ounces of gold, presenting a potential near-term revenue stream through reprocessing.

The acquisition forms part of Kavango's broader strategy to expand its gold portfolio in Zimbabwe, as interest in the country's mineral-rich greenstone belts continues to grow.