Caracal Gold PLC (GB:GCAT) has released an update.
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Caracal Gold PLC, the East African gold producer, has announced a new funding initiative, securing a $500,000 financing agreement with Koenig Vermoegensverwal MBH and a $100,000 loan from CEO Robbie McCrae, which will be used for costs associated with mining licenses, audit payments, and working capital. The company is also progressing a $5 million investment from Cynergy into their Kilimapesa expansion project, with the goal to increase production and resources. This influx of capital positions Caracal to move forward with its expansion plans and to overcome recent challenges, aiming to become a significant gold producer in the region.
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