Kavango Resources PLC (LSE:KAV, OTC:KVGOF) shares were on the move on Wednesday, as it reported metallurgical testwork from the Hillside Gold Project in Zimbabwe, which the company said delivered high recoveries and standard processing requirements, clearing a key technical step as it prepares to bring its 50 tonnes-per-day gold plant into operation.
The Southern Africa-focused metals exploration and gold production company highlighted that ideal laboratory recoveries exceeded 95%, with real-world plant recoveries expected in the 90–93% range. Composite D, representing the expected feed for the 50 tpd plant, achieved 96% total plant recovery under laboratory conditions, while Composite C, representing a potential future 250 tpd upgrade blend, achieved 97%.
Testing also showed favourable ore characteristics. From the Nightshift area, the gold was 100% native and non-refractory, while Bill’s Luck contained 91% free-milling gold. Kavango said the samples had very low levels of elements that could rob gold from processing liquors or drive higher reagent consumption, including native carbon, copper and zinc.
The programme set a target grind size of 75 microns, with gravity recovery via centrifugal concentrators ranging from 50% to 90%. Intensive leach reactor tests on gravity concentrates showed up to 90% recovery after eight hours and 98% after 24 hours.
Interim chief executive Peter Wynter Bee said the results give Kavango confidence to keep building the Hillside resource base, with the company aiming to increase gold production through future processing capacity additions.
In opening deals, Kavango shares marked an 11% gain to 0.83p, before later slipping to 0.7p to mark a 6.7% decline for the session