Director Appointments & Board Changes

Kavango Resources PLC

30 May 2024

 

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

[phone]

First Equity (Broker)

[phone]

Jason Robertson            

 

END