(Alliance News) - Caracal Gold PLC on Monday said it is seeking legal advice on its ongoing negotiations with Cynergy Global Ltd, and announced the results of fundraising as cost pressures ramp up. Read More
Caracal Gold PLC - East Africa-focused gold producer - Says Cynergy Global Ltd has informed Caracal that it would like to renegotiate the terms of its investment, and reach a settlement with Caracal. This follows the agreement of a second extension in August 2024 to the second tranche payment of USD500,000 due under phase 1 of the Cynergy strategic investment plan. The deadline had been extended to September 2024 to allow Caracal to deal with a due diligence query raised by Cynergy related to Caracal subsidiary Tyacks Gold Ltd. Cynergy also raised concerns on the financial position of Caracal subsidiary Kilimapesa Gold Pty Ltd, which is based in Kenya. Read More
(Alliance News) - Caracal Gold PLC on Monday released its half-year results, whose publication had been delayed. Read More
Caracal Gold PLC - East Africa-focused gold producer - Agrees to second extension with Cynergy Global Ltd to the payment of the second USD500,000 tranche due under phase 1 of the Cynergy strategic investment plan until the end of September. Explains that this delay, combined with the fact that no cash flow is being generated at Kilimapesa, has placed the company under significant cash flow pressure and distress. Is engaging with various stakeholders to raise the required funding. Read More
Caracal Gold PLC - East Africa-focused gold producer - Secures investment to fund the Kilimapesa expansion project from a strategic investor. Explains that a three phased investment will be made by Cynergy Global Ltd - a Mauritius-based investment group with regional presence in power generation, oil & gas exploration & development, aviation and commercial fishing - into Caracal and its subsidiaries. Phase 1 will see USD1 million payable in two tranches of USD500,000 in exchange for 25% of Caracal. Phase 2 will see a further USD5 million injection, USD2 million in equity and USD3 million in debt in exchange for an additional 10% of Caracal. In the event of Caracal undertaking a fundraise by way of share placement in the future, Phase 3 would see Cynergy granted the option to subscribe for up to 29.9% of Caracal's share capital. Read More
Caracal Gold PLC - East Africa-focused gold producer - Provides update following restart of production at the plant at Kilimapesa for the quarter. Says open cast mining continued in pit 3B with a total of 11,400 tonnes mined at an average grade of 1.82 grammes per tonne gold with a strip ratio of ore to waste of 2.7 to 1 for the month of February; and 11,610 tonnes mined at average grade of 1.625 g/t gold with a strip ratio of ore to waste of 2.9 to 1 for the month of March. Availability of the milling plant in March was hit by a failure of the mill motor which took the milling plant off line from March 2 to March 9. Additional challenges with record high rainfall in the Masai Mara area severely impacted power availability during the month, company says. Chief Executive Robert McCrae says: "The mill motor failure and heavy rainfall were amongst some of the challenges faced in February and March and this has meant that our working capital position is extremely tight and this carried forward into April. The finance team are working to complete the audit and interim financials and are confident after recent feedback from PKF the audit is in final stages." Read More
(Alliance News) - Caracal Gold PLC on Tuesday said that it has raised GBP780,000 via a subscription, through the issue of 260.0 million shares. Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Thursday and not separately reported by Alliance News: Read More
(Alliance News) - Caracal Gold PLC on Tuesday aid it has raised GBP140,000 through a subscription of shares. Read More
Caracal Gold PLC - East Africa-focused gold producer - Enters loan agreement for USD250,000 with CSS Alpha Global Pte Ltd with a 12-month term. Loan carries interest of 3% per month, and will be repaid in nine equal instalments after a three-month grace period. Chief Executive Officer Robbie McCrae has secured the loan with a personal guarantee for 50% of the principal amount. Lender's parent company will receive 13.0 million shares in Caracal as part of the transaction. Caracal will use funds for working capital at its Kilimapesa gold mine and for various corporate costs. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Wednesday and Thursday, and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - Stocks in London ended on a positive note on Friday, following a tumultuous couple of days following a US credit rating cut and another interest rate hike from the Bank of England. Read More
(Alliance News) - Caracal Gold PLC on Friday said production in the second quarter was significantly better than in the preceding months, and said activities at its Kenyan mine showed "steady" progress. Read More
(Alliance News) - Caracal Gold PLC on Thursday said it has completed a GBP351,000 share subscription, and appeared optimistic for its projects' future resources estimates. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News: Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More