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Caracal Gold raises £780,000 in new share subscription

Published 26/03/2024, 13:06
© Reuters.  Caracal Gold raises £780,000 in new share subscription

Proactive Investors - Caracal Gold PLC (LON:GCAT) has raised £780,000 through the issue of 260 million new ordinary shares.

The funds of the subscription will be paid in five equal instalments of £156,000 and the Company will issue the upon completion of the final instalment.

Proceeds of the funds will be used for working capital by the company and its subsidiaries.

Earlier this month, Caracal provided a trading update on its east-African gold operations following the recommencement of production at the Milling/CIL plant at Kilimapesa, Kenya at the beginning of February.

Open cast mining continued in pit 3B with a total of 11,400 tonnes mined at an average grade of 1.82 g/t gold with a strip ratio of ore to waste of 2.7 to 1.

Read more on Proactive Investors UK


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