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Caracal raises £140 000 for working capital, corporate costs

23rd January 2024

By: Tasneem Bulbulia

Deputy Editor Online

     

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East African gold producer Caracal Gold has raised £140 000 by way of a subscription through the issue of  46.7-million new ordinary shares in the company, to be used for working capital at its 100%-owned Kilimapesa gold mine, in Kenya, and for various corporate costs including annual audit, prospectus costs and funding-related costs.

Caracal is progressing a mine optimisation strategy at Kilimapesa, where it sees considerable expansion potential and the ability to increase gold production to 24 000 oz/y in the medium term. 

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Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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