REG - Caracal Gold PLC - Update on the Annual Report and Interim Results

Caracal GoldAnnouncement

09/05/2024 15:15

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RNS Number : 8583N  Caracal Gold PLC  09 May 2024

9 May 2024

Caracal Gold Plc

('Caracal' or the 'Company')

Update on progress with the Annual Report and Interim results

Caracal Gold Plc, the East African gold producer with over 1,300,000 oz JORC
compliant gold resources, provides the following update in relation to
progress on the finalization of its Annual Report and Financial Statements for
the year ended 30 June 2023 ("Group Audit").

Further to the announcement on 7 March 2024 PKF Littlejohn LLP (PKF) have been
engaged to complete the Group Audit.

As part of the Group Audit an independent review of the Kilimapesa 3 year mine
plan was required to be undertaken. This report was submitted to PKF on 3 May
2024.

The Company has responded to PKF's enquiries in connection with the Group
Audit to date and have requested a timeline from them for completion.  The
Company will provide an update as soon as confirmation of the timing of
completion of the audit process is received from PKF.  The timeline from PKF
will be dependent on a variety of factors which could impact the timing.

The Company will publish its 2023 Annual Report as soon as it is able to do
so.  After completion of the Group Audit, the Company will then also be in a
position to finalise its unaudited interim results for the six months ended 31
December 2023.  Following publication of these accounts, the Company will
apply for the suspension of trading in its shares to be lifted.

Following publication of the Group Audit and the unaudited interim results for
the six months ended 31 December 2023, the Company will be in a position to
resubmit its draft prospectus to the FCA for review and will aim to finalise
this as soon as possible.

* * ENDS * *

For further information visit www.caracalgold.com or contact the following:

 Caracal Gold plc

 Robbie McCrae                                       robbie@kilimapesa.com (mailto:robbie@kilimapesa.com)
 VSA Capital Ltd                                     +44 203 005 5000

 Financial Adviser and Broker

 Andrew Raca (Corporate Finance)
 DGWA, the German Institute for Asset and            info@dgwa.org (mailto:info@dgwa.org)

 Equity Allocation and Valuation

 European Investor and Corporate Relations Advisor

 Katharina Löckinger

 

Notes:

Caracal Gold plc is an expanding East African focused gold producer with a
clear path to grow production and resources both organically and through
strategic acquisitions. Its aim is to rapidly increase production to
+50,000ozs p.a. and build a JORC compliant resource base of +3Moz. The Company
is progressing a well-defined mine optimisation strategy at its 100% owned
Kilimapesa Gold Mine in Kenya, where there is significant mid-term expansion
potential and the ability to increase gold production to 24,000oz p.a. and the
resource to +2Moz (current JORC compliant resources of approx. 706,000oz).
Alongside this, Caracal owns 100% of Tyacks Gold Ltd which owns the Nyakafuru
Project in Tanzania, which has an established high-grade shallow gold resource
of 658,751oz at 2.08g/t contained within four deposits over 280 km2 and
appears amenable to development as a large scale conventional open pit
operation.

Caracal's experienced team has a proven track record in successfully
developing and operating mining projects throughout Africa.

The Company is a responsible mining and exploration company and supports the
positive social and economic change that it contributes to the communities in
the regions that it operates. It is a proudly East African-focused company: it
buys locally, employs locally, and protects the environment and its employees
and their families' health, safety, and wellbeing.

 

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