Overview

This pan-African gold platform represents an established mining group with producing assets in Kenya and Zimbabwe, offering immediate exposure to ongoing gold production and growth upside. The platform operates three mines across East and Southern Africa, currently yielding a combined 1,200–1,500 ounces of gold per month (approximately 40–50 kilograms). Notably, the flagship Kenyan mine boasts an exceptionally low all-in sustaining cost (AISC) of about $748 per ounce, placing it among industry cost leaders, while the Zimbabwean operations are undergoing optimizations to reduce costs (presently around $1,700/oz and improving). Over $30 million has already been invested in developing these operations, including modern CIL processing plants, on-site housing, and ancillary mine infrastructure, with an additional $12 million in upgrades planned between 2025 and 2028.

Strategically, the company plans to double its annual production over the next several years, targeting 50,000+ ounces per year by 2030. This growth will come from scaling up the Zimbabwean mines (aiming for ~23,000 oz/year by 2028) and further expanding the resource base, which has significant multi-million-ounce exploration potential. All assets in the platform have secure, long-term mining licenses and a track record of operations, including regular gold shipments and dividend payouts to shareholders from existing cash flows. The investment opportunity involves purchasing a 35–40% equity stake via a secondary share sale, at an enterprise valuation of roughly USD 40 million for the entire platform. Investors taking a significant stake (>20%) are expected to gain board representation. With stable production, low costs at the core asset, and a clear path to an eventual liquidity event (the group is considering an IPO after 2027), this platform offers an attractive entry into African gold production with both yield (dividends) and growth potential.