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Caracal Gold to appoint new Chairperson

East African gold producer Caracal Gold is set to appoint a new Chairperson. This follows the stepping down of nonexecutive chairperson Simon Thomas. Advanced discussions are already in place with a potential replacement chairperson.

Caracal is an LSE and FSE listed gold producer and developer with established operations in East Africa and over 1,300,000oz JORC compliant gold resources. The Company is focused on building production and profitability, targeting +50,000oz p.a. gold production and +3Moz JORC Compliant Resources across its strategic portfolio of operations.

Caracal Gold

At its flagship Kilimapesa Gold Mine and Processing Operation in Kenya, work is underway to increase production to +24,000 oz gold per annum and build the JORC Resource to in excess of 2 million ounces. Kilimapesa Gold Mine is located in a mining friendly jurisdiction in Kenya. It is an established, producing, shallow underground mine and processing plant as well as an extensive prospecting permit. Gold ore is produced on site and exported to international refiners, offering immediate value uplift through revenue generation. Further upside can be seen through plant expansion and reserve and resource upgrade.

In Tanzania, the Company is in the process of acquiring a 100% interest in the advanced Nyakafuru Gold Project, which is located in the Lake Victoria Gold Fields, one of Africa’s largest producing gold regions. With proven, high-grade, shallow gold resources, Nyakafuru has the potential to produce 50,000oz per annum.

Driven by an experienced management team with proven operating experience in Africa and demonstrated capabilities in optimising gold mining operations, the Company is committed to delivering stakeholder value and is committed to ensuring that its operations provide direct and sustainable benefits to the communities within which it operates.

 

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