TSX runs higher on rate cut expectations
LONDON - Caracal Gold PLC (LSE:GCAT), an East African gold company, has announced the completion of interim unaudited accounts for its wholly owned subsidiary, Kilimapesa Gold Limited (KPG), for the six-month period ending December 31, 2024. The results have been shared with the company’s finance team and advisors in the United Kingdom (TADAWUL:4280) and South Africa for the finalization of Caracal’s interim unaudited consolidated accounts for the same period.
The interim financial statements for KPG are a precursor to the release of Caracal Gold’s consolidated accounts, which will follow the sign-off of the audited consolidated accounts for the year ending June 30, 2024, by the company’s UK auditors, RPGCC. The release date for the consolidated accounts will be announced subsequent to the auditors’ approval.
Caracal Gold is focused on increasing gold production and resources in East Africa. The company aims to resume and increase production at its 100% owned Kilimapesa Gold Mine in Kenya, targeting an annual output of more than 50,000 ounces of gold. Additionally, Caracal is working on expanding the mine’s JORC compliant resources beyond the current estimate of approximately 706,000 ounces.
Alongside the developments in Kenya, Caracal is also conducting a targeted exploration program at the Nyakafuru Project in Tanzania, which boasts a high-grade shallow gold resource of 658,751 ounces at 2.08 grams per tonne. The project spans over 280 square kilometers and has the potential to be developed into a large-scale conventional open-pit operation.
The company emphasizes its commitment to responsible mining practices and contributing positively to the communities in the regions where it operates. Caracal Gold focuses on local employment, procurement, environmental protection, and the health and safety of its employees and their families.
This announcement contains inside information as defined under the Market Abuse Regulation and is disclosed in accordance with the company’s obligations under MAR. The information in this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.