Africa-focused metals exploration and gold production company, Kavango Resources Plc, has reached an agreement to extend the timeframe for finalising the purchase of the Nara Gold Project.

The London-listed miner first signalled its intention to acquire the gold asset on 1 July 2025, after exercising an option to purchase 100% of the project, which comprises 45 claims.

The company further announced on 9 December 2025 that Kavango and the seller (the "Parties") had agreed to extend completion to 27 February 2026. Following an earlier update on 2 March 2026, the Parties have now agreed to extend the completion date again to allow for the finalisation of legal formalities.

In its latest update on Monday, Kavango Resources CEO, Peter Wynter Bee, reaffirmed the company's commitment to completing the Nara sale and purchase agreement as soon as possible.

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

Prior to the current agreement, Kavango announced on 2 March 2026 that the seller, Simon John Bowman (operating through Romjack Mining), had defaulted on the acquisition agreement, prompting the company to pursue legal remedies to enforce the original contract or seek compensation for the breach.

The project is located in the Filabusi Greenstone Belt in Zimbabwe, a region known for historic gold production. It comprises 45 gold claims and includes the historically productive Killarney and N1 mines.

Drilling has confirmed gold-bearing systems beneath historic workings, suggesting that mineralisation continues at depth. The site also hosts two large tailings dumps with an estimated 6,000 ounces of gold, offering a near-term revenue opportunity through reprocessing.