Caracal Gold PLC (GB:GCAT) has released an update.
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Caracal Gold PLC, a burgeoning East African gold producer, has successfully received the first tranche of a phased investment from Cynergy Global Ltd, with plans for additional funding by July 2024. This investment will support Caracal’s strategy to escalate production and expand resources, with the ultimate goal of significantly increasing its gold production capacity and establishing a resource base of over 3 million ounces. The company is focused on optimizing its Kilimapesa Gold Mine in Kenya and developing the Nyakafuru Project in Tanzania, emphasizing local employment and environmental responsibility.
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