Invictus shifts to action as Cabora Bassa project advances
Invictus Energy will shift from planning to active operations during the 2026 financial year as the firm works to develop the Cabora Bassa Project, executives said in their annual report. Chairman John Bentley and Managing Director Scott Macmillan described the coming period as one focused on execution after securing partnerships with Al Mansour Holdings and obtaining national project status from Zimbabwe authorities. The designation allows investors to receive duty rebates along with tax holidays.
The Australian explorer reported making significant discoveries at Cabora Bassa over two years. Activities planned for the next 24 months include well testing at Mukuyu and appraisal drilling while the company advances preparations for high-impact exploration at the Musuma-1 location. Al Mansour Holdings invested $24.5 million and committed conditional future financing reaching $500 million to help bring Cabora Bassa into commercial production.
Invictus completed a $12 million placement with Mangwana Capital during the year ended June 30. The Qatari backing demonstrates confidence in government policies that create stable conditions for investment, executives said. License renewals provide extended security across the basin to support ongoing exploration work.
