East African focussed Gold Producer, Caracal Gold, raised US$2.7 million via a share placing for the Kilimapesa gold mine in Kenya.
The firm had placed 177 million new ordinary shares that were bought by a major shareholder of the company and strategic clients of Clear Capital Markets, a UK- based stockbroker and wealth manager.
A breakdown of the shareholder structure as at 1 February 2022.
top 5 largest shareholders hold a 43.96% interest in the company
— Caracal Gold plc | LSE:GCAT | #GCAT (@CaracalGoldplc) February 11, 2022
“The funds will help advance our active growth plans further at Kilimapesa, as we target a 100% gold production uplift to 2,000 ozs per month in 2022, and at a highly prospective time for gold producers,” Chief Executive Robbie McCrae said.
The Kilimapesa Gold Mine has the potential to increase gold production to 25,000oz p.a. and the resource to +2Moz as of late 2021.
Currently, it is accelerating the third phase development activities at Kilimapesa aimed at increasing production to about 24 000 oz/y.
The first two phases focused on operational improvements and developments since listing in August 2021.
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