- Kavango extended the Nara Gold Project completion deadline to 27 February 2026 due to slow-moving legal and regulatory formalities in Zimbabwe
- The delay is procedural, with no changes to commercial terms and both parties reaffirming full commitment to the acquisition
- The project remains central to Kavango’s strategy to grow its gold portfolio, despite bureaucratic hurdles typical of mining title transfers in Zimbabwe
Harare - Kavango Resources plc, the London- and VFEX-listed exploration company, has pushed back completion of its planned acquisition of the Nara Gold Project to 27 February 2026, a move that while expected within Zimbabwe’s regulatory landscape highlights the persistent procedural bottlenecks confronting mining investors.
In its update, the company said simply “Kavango and the Seller have agreed to extend completion to 27 February 2026, to facilitate finalisation of the legal formalities.”
This suggests no commercial dispute or strategic rethink, but rather an administrative delay tied to documentation, verification of mining titles, and compliance steps typical of Zimbabwe’s mining transfers.
The extension comes five months after Kavango exercised its option to acquire 100% of the Nara Gold Project, a cluster of 45 claims in one of Zimbabwe’s most historically productive gold belts.
That July 2025 decision was widely interpreted as a signal that the company intended to accelerate its transition from explorer to emerging producer.
From a strategic standpoint, the deal remains central. Nara offers Kavango the scale and geological profile needed to underpin its medium-term gold production ambitions.
The asset also aligns with the company’s effort to broaden its portfolio beyond Botswana’s copper-nickel systems and deepen its exposure to precious metals at a time when global gold prices remain historically elevated.
This makes the delay noteworthy not because it signals risk, but because it reflects the realities of operating in Zimbabwe where legal sign-offs, title confirmation, and bureaucratic sequencing often drag out beyond initial projections.
Zimbabwe’s mining sector continues to attract interest amid stabilising exchange rate dynamics, periodic policy reforms, and favourable commodity markets. Yet the underlying administrative architecture particularly regarding claim transfers, notarisation, and Ministry of Mines approvals remains cumbersome.
Beyond the asset itself, the Nara acquisition is woven into Kavango’s broader 2025–2026 strategy. The company has been active on capital markets, including its listing on the Victoria Falls Stock Exchange (VFEX), a currency-denominated bourse designed to attract regional and offshore capital.
The VFEX listing provides a useful funding bridge for project development in Zimbabwe, where access to hard-currency capital is often the limiting factor for junior miners.
Once completed, Nara is expected to slot into Kavango’s medium-term production pipeline and could materially influence the company’s valuation profile.
In the meantime , however, investors will be watching whether the February 2026 deadline holds and how quickly the company can convert the asset from acquisition-stage paperwork to operational planning.
In practical terms, the extension slows momentum but does not alter the substance of the deal.
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