Pambili Raises Fresh Capital to Accelerate Gold Projects in Zimbabwe

Toronto Stock Exchange (TSX)-listed Pambili Natural Resources Corporation has announced plans to raise C$500,000 (US$352,000) through a series of convertible loan notes issued to qualified investors. The raise is subject to approval by the TSX Venture Exchange (TSX-V).

By Ryan Chigoche

Kavango Resources Plc, Pambili’s largest shareholder, has committed C$340,000 (US$239,000) to the raise, reaffirming its position as a cornerstone investor in the company.

According to a company circular, the funds will be used for general working capital purposes, including debt settlement and the initial evaluation of the London Wall group of mines, over which Pambili has secured a purchase option.

Jon Harris, Chief Executive Officer of Pambili Natural Resources, emphasized that the proceeds would support exploration and development of the company’s Zimbabwean gold assets, including the Golden Valley A1 gold claim.

“Kavango is Pambili’s largest shareholder. Its participation in this raise demonstrates its continued support for our strategic approach to developing the vast modern mining and production potential on offer across Zimbabwe’s underexplored gold belts.

“The proceeds of the raise will provide Pambili with the working capital required to develop its Golden Valley A1 mining claim, as well as to conduct initial due diligence on the London Wall option. We believe the London Wall mine has significant potential to be a company builder, and we look forward to being able to announce positive news from that opportunity in the near future,” he said.

The transaction is subject to TSX-V approval. Redemption will be made through the issuance of Units priced at C$0.05 per Unit.

Each Unit will consist of one Pambili share and one-half of a common share purchase warrant (each whole warrant being a “CLN Warrant”).

Each CLN Warrant will entitle the holder to purchase one additional share (a “CLN Warrant Share”) at C$0.10 within 12 months of notice.

Subject to regulatory approval, Pambili will also pay finder’s fees of up to 7% on funds raised, to be settled through the issuance of shares and warrants on the same terms as the Units.

All securities issued under the transaction will be subject to a four-month-and-one-day statutory hold period from the date of closing, in accordance with Canadian securities laws, in addition to any other restrictions applicable in jurisdictions outside Canada.

Last year, Pambili entered a 12-month agreement with Long Strike Investments to acquire the London Wall group of 21 gold assets in Gwanda, located in Zimbabwe’s Matabeleland South Province.

The option agreement for the London Wall group of gold mines, which includes two previously producing mines—London Wall and New Jessie—covers claims situated along three major regional gold-bearing geological structures. The company believes this acquisition has the potential to be a transformative asset.

The company also owns and operates two gold mines near Bulawayo: the Golden Valley Mine (GVM) and the Happy Valley Mine, which is located approximately 15 km from the city. Pambili sees strong acquisition potential in the region, supported by a track record of historical mining success.

With continued backing from key investors and a growing portfolio of promising gold assets, Pambili Natural Resources is positioning itself as a key player in Zimbabwe’s mining revival.

As exploration and development efforts ramp up across underexplored gold belts, the company’s strategic focus on sustainable growth and operational expansion could mark a pivotal chapter in its journey—and potentially, in Zimbabwe’s booming gold mining sector.