Caracal Gold PLC Funding update
01 Juillet 2024 - 8:00AM
RNS Regulatory News
RNS Number : 4797U
Caracal Gold PLC
01 July 2024
1
July 2024
Caracal Gold
Plc
('Caracal' or the
'Company')
Funding
update
Caracal
Gold Plc, the East African gold producer with over 1,300,000 oz
JORC compliant gold resources, is pleased to provide an update on
its recently announced conditional fundraising which is proceeding
according to plan.
The funding comprises a three phased investment to be
made by Cynergy Global Ltd ("Cynergy").
The first tranche of USD $500,000
has been received and a further USD $500,000 is due by the end of
July 2024. At which time Cynergy will receive 25% of Caracal
Holdings Ltd ("CH"), a wholly owned subsidiary of
Caracal.
Progress on the subsequent financing
arrangements with Cynergy continue as previously
announced.
* * ENDS *
*
For further information
visit www.caracalgold.com or contact the following:
Caracal Gold
plc
Robbie McCrae
Simon Grant-Rennick
|
robbie@kilimapesa.com
simon@caracalgold.com
|
VSA Capital
Limited
Financial Adviser and Broker
Andrew Raca (Corporate Finance)
|
+44 203 005 5000
|
DGWA,
the German Institute for Asset and
Equity Allocation
and Valuation
European Investor and Corporate Relations Advisor
Katharina Löckinger
|
info@dgwa.org
|
Notes:
Caracal Gold plc is an
expanding East African focused gold producer with a clear path to
grow production and resources both organically and through
strategic acquisitions. Its aim is to rapidly increase production
to +50,000ozs p.a. and build a JORC compliant resource base of
+3Moz. The Company is progressing a well-defined mine optimisation
strategy at its 100% owned Kilimapesa Gold
Mine in Kenya, where there is significant mid-term
expansion potential and the ability to increase gold production to
24,000oz p.a. and the resource to +2Moz (current JORC compliant
resources of approx. 706,000oz). Alongside this, Caracal owns 100%
of Tyacks Gold Ltd which owns the Nyakafuru
Project in Tanzania, which has an established high-grade
shallow gold resource of 658,751oz at 2.08g/t contained within four
deposits over 280 km2 and appears amenable to development as a
large scale conventional open pit operation.
Caracal's experienced team has a
proven track record in successfully developing and operating mining
projects throughout Africa.
The Company is a responsible mining
and exploration company and supports the positive social and
economic change that it contributes to the communities in the
regions that it operates. It is a proudly East African-focused
company: it buys locally, employs locally, and protects the
environment and its employees and their families' health, safety,
and wellbeing.
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END
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