Caracal Gold PLC (GB:GCAT) has released an update.
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Caracal Gold PLC, an emerging East African gold producer, has successfully received the first installment of a multi-phase $1 million investment from Cynergy Global Ltd, with the second tranche due by the end of July 2024. This investment, which grants Cynergy a 25% stake in Caracal’s subsidiary, is part of the company’s strategic plan to ramp up production and expand its gold resource base. Caracal is focused on optimizing its Kilimapesa Gold Mine in Kenya and developing the Nyakafuru Project in Tanzania, aiming to significantly boost its production and resource estimates.
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