Caracal Gold PLC US$3m non-dilutive financing secured (2934J)
12 Dicembre 2022 - 8:00AM
UK Regulatory
TIDMGCAT
RNS Number : 2934J
Caracal Gold PLC
12 December 2022
Caracal Gold plc / EPIC: GCAT / Market: Main / Sector:
Mining
12 December 2022
Caracal Gold plc ('Caracal' or the 'Company')
US$3m non-dilutive financing secured
Caracal Gold plc, the expanding East African gold producer with
over 1,300,000oz JORC compliant gold resources, is pleased to
announce that it has secured non-dilutive financing of US$3m
through a pre-paid gold purchase agreement. This follows the
securing of an initial US$10.5m conditional non-dilutive financing
through a pre-paid gold purchase agreement announced on 29 November
2022.
Kilimapesa Gold Pty Ltd ('KPG'), the 100% owned Kenyan operating
subsidiary of Caracal, has entered into a pre-paid gold purchase
agreement with a contract price totalling up to US$3m with Philoro
Global Trading AG ('Philoro'). The total contract price will be
made available to KPG in a single tranche US$3m to be drawn on or
before 31st December 2022. The contract price is repayable in six
equal instalments commencing immediately. The gold delivered is
sold at the spot price of the day at the time of the transaction
and is subject to a minimal discount and refining fee.
Robbie McCrae, CEO of Caracal commented: "This second
non-dilutive financing further strengthens Caracal's cash position
bringing the total raised in the last two weeks to US$13.5m.
Attracting these two new high-calibre partners, OCIM and Philoro,
is testament to the vast potential Caracal offers as it focuses on
becoming a +50,000oz per annum producer with +3moz in resources. We
can now concentrate on the final push to deliver on our initial
production target of 24,000oz per annum, whilst continuing to
advance our regional exploration efforts in Kenya to ultimately
build the life of mine and value potential. Alongside this, we are
excited by the development opportunity Nyakafuru in Tanzania offers
and look forward to progressing our targeted exploration programme
to support a Preliminary Economic Assessment ."
Further information about Philoro Global Trading AG can be found
at www.philoro-global.com .
**ENDS**
For further information visit www.caracalgold.com or contact the
following:
Caracal Gold plc info@caracalgold.com
Robbie McCrae
Clear Capital Markets Ltd
Joint Broker +44 203 897 0981
Keith Swann / Jonathan Critchley +44 203 869 6086
-------------------------------
VSA Capital Ltd
Financial Adviser and Joint
Broker
Andrew Raca (Corporate Finance)
Andrew Monk / David Scriven
(Corporate Broking) +44 203 005 5000
-------------------------------
St Brides Partners Ltd caracal@stbridespartners.co.uk
Financial PR
Charlotte Page / Isabel de Salis
/ Isabelle Morris
-------------------------------
DGWA, the German Institute info@dgwa.org
for Asset and
Equity Allocation and Valuation
European Investor and Corporate
Relations Advisor
Katharina Löckinger
-------------------------------
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 is
undertaking a targeted exploration programme at 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 km(2) 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.
Caracal's shares are quoted on the Main Market of the London
Stock Exchange (LON: GCAT) and on the Frankfurt Stock Exchange
(FSE: 6IK). The Company is also in the process of listing on the
Nairobi Securities Exchange.
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