30 May 2024
KAVANGO RESOURCES PLC
("Kavango" or "the
Company")
Director Appointments & Board
Changes
Kavango Resources plc (LSE:KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
a restructuring of the board to meet the future commercial needs of
the Company.
Donald McAlister and Alexandra (Alex) Rose
Gorman join the Board and Peter Wynter Bee assumes a new role as
Deputy Chairman. Donald brings years of experience of operating in
Zimbabwe and raising funds for many projects. He was a founding
director and remains on the board of Tertiary Minerals plc. Alex is
currently a Mining Analyst at Peel Hunt. Alex originally trained as
a geologist and worked previously with Dave Catterall in
Botswana.
As part of the restructuring, Brett Grist and
Jeremy Brett will step down from the Company's board of directors
with immediate effect. Brett will continue in his roles as
Kavango's Chief Operating Officer and Company Secretary, while
Jeremy will continue to in his role as a Senior Geophysical
Consultant to the Company.
David Smith,
Chairman of Kavango Resources, commented:
"As Kavango
moves towards substantial revenue generation, we have decided to
restructure the board with a more commercial and strategic focus.
Our CEO, Ben Turney, has moved to Zimbabwe to lead the business
there. This is already yielding significant results. In March,
Kavango announced its maiden gold resource and moved into gold
production. This represents a step-change for the
business.
I would like
to thank both Brett and Jeremy for their contributions during their
time spent on Kavango's board. They have been instrumental in
building the Company's strong presence in Botswana and Zimbabwe.
Brett has done much to bolster our operational infrastructure and
will carry on in his executive role. Jeremy has played a key
role in modernising and sharpening Kavango's exploration
capabilities and has brought in key senior specialists who have
unlocked significant early-stage potential on the KSZ and Ditau
projects. Jeremy will continue to consult for Kavango on the same
terms.
With the
Company now entering a crucial growth period, the board has decided
to adopt a less executive and more strategic
structure.
To this end,
we are delighted to welcome Donald and Alex onto the board. Donald
brings a wealth of financial management experience, having acted as
finance director for a number of PLCs. He has led numerous
successful financings of mining ventures and has significant
experience working in Zimbabwe.
Alex,
meanwhile, is a well-respected mining analyst for Peel Hunt. Alex
brings with her a rare combination of technical geological and
financial market experience. Alex completed a site visit to
Zimbabwe in early May and has reviewed our progress there.
Importantly, Alex also has direct experience of the Kalahari Copper
Belt in Botswana, having started her career working for Dave
Catterall on the Zone 5 Discovery 10 years ago.
I am delighted
that Donald and Alex have agreed to join Kavango as directors. With
their appointments, we have strengthened our board substantially.
We now move forward into an exciting phase of growth, with even
greater confidence."
About the new
directors
Donald brings years of experience of operating
in Zimbabwe and raising funds for many projects. He was a founding
director and remains on the board of Tertiary Minerals
plc.
Previously he was Finance Director of Mwana
Africa plc, Ridge Mining plc and Reunion Mining plc and has served
on the Board of Bindura Nickel Corporation and Freda Rebecca Gold
mine, both in Zimbabwe. He also worked at Enterprise Oil plc, Texas
Eastern N Sea Inc. and Cluff Oil Holdings plc. He has over 20
years' experience in all financial aspects of the resource
industry, including metal hedging, tax planning and economic
modelling.
Donald's experience also includes the economic
evaluation of gold and base metal mines and the arranging of
project finance for feasibility studies and mine
developments.
He was also involved in the listing of Reunion
Mining plc on the Luxembourg and London Stock Exchanges and the
listing of Ridge Mining on AIM.
Mr McAlister will take on the responsibility of
Chairman of the Audit Committee.
Alex trained as a geologist and worked with Dave
Catterall in Botswana. She is currently a Mining Analyst at
Peel Hunt, covering small and mid-cap mining companies listed in
London. Prior to that, Alex worked in BMO's commodities team, and
in various analytical and consulting roles at Wood Mackenzie.
She brings a wealth of banking and analytical
experience.
Donald's and Alex's appointments will take
effect following the Company's 2024 AGM which takes place on 6
June.
There are no disclosable matters which need to
be announced in respect of Donald or Alex save that Donald
holds 725,664 shares in Kavango Resources plc.
Further information in respect of the Company
and its business interests is provided on the Company's website at
www.kavangoresources.com and on X (formerly Twitter) at
#KAV.
For further information please
contact:
Kavango
Resources
plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
+44 207 374 2212
Jason
Robertson