An update from Caracal Gold PLC ( (GB:GCAT) ) is now available.
Caracal Gold PLC has announced a successful funding update, raising £440,000 through a subscription of new ordinary shares, which will help finance working capital for its Kilimapesa Gold Mine and cover corporate costs. Additionally, the company has entered into a related party loan agreement with its CEO and a non-executive director, totaling US$200,000, to further support its financial stability. The company is also addressing issues with Cynergy Global Ltd over shares in its subsidiary Caracal Holdings Ltd, following the nonpayment of a previously agreed funding arrangement.
More about Caracal Gold PLC
Caracal Gold PLC is an expanding gold producer based in East Africa, with a focus on developing its significant JORC compliant gold resources amounting to over 1.3 million ounces. The company is primarily involved in the mining industry, with its main operational focus on the Kilimapesa Gold Mine.
YTD Price Performance: -1.79%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £5.41M
See more insights into GCAT stock on TipRanks’ Stock Analysis page.