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</o:shapelayout></xml><![endif]--></head><body lang=EN-ZW link="#0563C1" vlink="#954F72"><div class=WordSection1><div align=center><table class=MsoTableGrid border=0 cellspacing=0 cellpadding=0 style='border-collapse:collapse;border:none'><tr><td width=1177 valign=top style='width:588.25pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal align=center style='text-align:center'><span style='font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><img width=653 height=174 id="Picture_x0020_3" src="cid:image001.jpg@01D76826.BE4DBA90"></span><span style='font-family:"Georgia",serif'><o:p></o:p></span></p></td></tr><tr><td width=1177 valign=top style='width:588.25pt;padding:0cm 5.4pt 0cm 5.4pt'><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>KUVIMBA Mining House (KMH) is pleased to announce that the company is paying a maiden dividend of which USD 5.2 million will flow to its local shareholders following a positive performance during the financial year ended 31 March 2021. The dividend is based on unaudited figures, but the board felt that given the underlying performance of its subsidiary companies the dividend was appropriate. <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>The USD5.2 million will be distributed as follows:<o:p></o:p></span></p><p class=MsoListParagraphCxSpFirst style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>Sovereign Wealth Fund of Zimbabwe – US$520,000.00;<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>Public Service Pension Management Fund – US$560,000.00; <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>Deposit Protection Corporation – US$400,000.00;<o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>Insurance and Pensions Commission – US$400 000; <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>Datvest Nominees - US$ 1 million; <o:p></o:p></span></p><p class=MsoListParagraphCxSpMiddle style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>National Venture Capital Company of Zimbabwe (Pvt) Ltd- USD 600 000; and<o:p></o:p></span></p><p class=MsoListParagraphCxSpLast style='text-align:justify;text-indent:-18.0pt;mso-list:l0 level1 lfo1'><![if !supportLists]><span lang=EN-US style='font-family:Symbol'><span style='mso-list:Ignore'>·<span style='font:7.0pt "Times New Roman"'> </span></span></span><![endif]><span lang=EN-US style='font-family:"Georgia",serif'>Government of Zimbabwe USD 1.720 million<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>Kuvimba took over the ownership and management of several mining assets in Zimbabwe during the second half of CY2020. Since its inception, the company has seen the performance of the underlying mining assets improve significantly. In addition, the company has developed a clear vision underpinned by a value system to ensure an appropriate execution of its growth strategy for the company. The company’s vision is to create sustainable growth for Zimbabweans through safe and responsible mining. This vision is achieved by instilling the following core values namely, integrity, being a good corporate citizen, care and respect, accountability and fostering good teamwork. <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>The company owns and manages three operating gold mines, three non-operating gold mines, various chrome operations, an operating nickel mine as well as an investment in a platinum project. <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>The company strategy has followed an initial phase of stabilizing the operations, a secondary phase of increasing metal output from current operations and the third phase is to operationalize the current non-operating asset. Phase one has largely been completed and this was achieved through the reinvestment of capital in the operations, management reorganization and providing a fresh look at the various operations. I will outline a brief view of the historic, current performance and future production outlook for each of the operating mines.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>Eighteen months ago, Shamva Gold Mine, Homestake and Zimbabwe Alloys were all under judicial management with uncertainty hovering over the heads of employees and communities. This has since changed.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>The gold companies have performed well with Fredda Rebecca Gold Mine leading the pack which produced on average, between 1,500kg and 2,100kg of gold per annum. Within the first year of full ownership of this mine, KMH has managed to increase gold production to 2,690kg. This is a substantial improvement from the previous year. The plan for the current financial year is to increase production to 3,215kg of gold per annum.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>The most exciting prospect lies within Shamva Gold Mine. The operations at Shamva had stopped in January 2019 when the bulk of the employees were retrenched. Operations have since resumed and the mine now employs just under 900 employees and recently, a detailed exploration program to delineate the resource at Shamva hill was concluded. The plan is to exploit this resource via a mega open-pit mine with the pre-feasibility study which was conducted indicating a viable large-scale long-life mine. Once fully developed, Shamva has the potential to become the largest gold mine in Zimbabwe by output and will target an annual production of 3,500kg of gold per annum.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>KMH is playing its role in ensuring that government's vision of a US$12 billion-dollar mining economy is attained.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>KMH embraces the notion that Zimbabwe is Open for Business and is testament of how viable it is for the private sector to work together with the public sector towards attaining Vision 2030 in order to achieve an Prosperous and Empowered Upper Middle Income Society by the year 2030.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>KMH's portfolio includes;<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>Freda Rebecca Gold Mine, Bindura Nickel Corporation, Shamva Gold Mine, Jena Mine, Elvington Mine, Sandawana, Homestake, Zim Alloys, and an investment in Great Dyke Investments (GDI). <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'>The company employs nearly 4000 workers.<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify'><span lang=EN-US style='font-family:"Georgia",serif'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><i><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Invest Wisely!<o:p></o:p></span></i></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p> </o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><b><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Bulls n Bears </span></b><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Telephone: <a href="tel:%2B263%2077%20344%201674" target="_blank"><span style='color:windowtext;text-decoration:none'>+263 77 344 1674</span></a> | +27 71 544 4769<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Alt. Email: <a href="mailto:info@bulls.co.zw"><span style='color:windowtext;text-decoration:none'>info@bulls.co.zw</span></a> <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Website: <a href="http://www.bullszimbabwe.com"><span style='color:windowtext;text-decoration:none'>www.bullszimbabwe.com</span></a><span style='color:#1F497D'> </span> <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Blog: </span><span class=MsoHyperlink><span style='line-height:115%;font-family:"Georgia",serif;color:windowtext;text-decoration:none'>www.<a href="https://bullszimbabwe.com/category/blogs/"><span style='color:windowtext;mso-fareast-language:EN-ZW;text-decoration:none'>bullszimbabwe.com/category/blogs/</span></a></span></span><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'> <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Twitter: @bullsbears2010<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>LinkedIn: Bulls n Bears Zimbabwe<o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%;background:white'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Facebook: <a href="http://www.google.com/url?q=http%3A%2F%2Fwww.facebook.com%2FBullsBearsZimbabwe&sa=D&sntz=1&usg=AFQjCNGhb_A5rp4biV1dGHbgiAhUxQqBXA" target="_blank"><span style='color:windowtext;text-decoration:none'>www.facebook.com/BullsBearsZimbabwe</span></a><o:p></o:p></span></p><p class=MsoNormal style='text-align:justify;line-height:115%'><span style='line-height:115%;font-family:"Georgia",serif;mso-fareast-language:EN-ZW'>Skype: Bulls.Bears <o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span style='font-family:"Georgia",serif;mso-fareast-language:EN-ZW'><img border=0 width=554 height=270 id="Picture_x0020_2" src="cid:image002.png@01D76826.BE4DBA90" alt="cid:image003.png@01D70F49.B9215E40"></span><span lang=EN-US style='font-family:"Georgia",serif'><o:p></o:p></span></p><p class=MsoNormal style='text-align:justify'><span style='font-family:"Georgia",serif'><o:p> </o:p></span></p></td></tr></table></div><p class=MsoNormal><span style='font-size:11.0pt'><o:p> </o:p></span></p></div></body></html>