The Caracal is a wild cat native to Africa where it is known as the golden cat, and the management of newly listed Caracal Gold (LON:GCAT) is hoping the company name will be auspicious and indeed golden as per the striking corporate logo.
Simultaneous, well-supported listings in both London and Frankfurt helped the Africa-focused gold miner raise £5.5 million which will be deployed to advance the development strategy at the Kilimapesa Gold Mine in South West Kenya.
Chief executive Robbie McCrae has set an ambitious target of rapidly increasing production to +50,000ozs per annum and build a JORC compliant resource base of +3Moz within 12-18 months from listing.
The foundations to achieve this are already in place. The handover from the previous management of the Kilimapesa gold mining and processing operations has been unproblematic and expedited with the former Goldplat chief executive joining the team as an executive director.
Relations with the government are also strong with regular communication about a common purpose – that of building a strong, resilient emerging East African focused gold producer that will benefit the community and shareholders alike.
