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Caracal Gold PLC ( (GB:GCAT) ) has provided an announcement.
Caracal Gold PLC has released its Mineral Resource Estimate for its gold projects in Kenya and Tanzania, in accordance with the JORC Code. The company reports a total of 26.36 million tonnes of gold resources with an average grade of 1.61 grams per tonne, amounting to approximately 1,365,000 ounces. While no significant exploration or mining activities have occurred over the past year, Caracal plans to restart exploration activities in East Africa later in 2025, following a proposed balance sheet recapitalization and refinancing. This strategic move is expected to enhance the company’s operational capabilities and strengthen its position in the gold mining industry.
More about Caracal Gold PLC
Caracal Gold PLC is an expanding gold company focused on East Africa, with operations primarily in Kenya and Tanzania. The company aims to grow its production and resources both organically and through strategic acquisitions, with a target to increase production to over 50,000 ounces per annum and build a JORC-compliant resource base of over 3 million ounces. Caracal is committed to responsible mining practices and contributes positively to the social and economic development of the communities in which it operates.
Technical Sentiment Signal: Sell
Current Market Cap: £5.41M
Find detailed analytics on GCAT stock on TipRanks’ Stock Analysis page.