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Caracal Gold PLC - gold producer with operations in East Africa - Says its production and processing output in the first quarter of 2022 has exceeded the previous quarter. Company is now targeting 24,000 ounces of gold per year. Accelerates the final phase of its operational plan at Kilimapesa gold mine in Kenya, with the first 5,000 tonne pilot heap leach pad commissioned. Adds that initial recoveries from the pad are in line with the metallurgical test work results. Company begins finalisation of approvals regarding its acquisition of the Nyakafuru and Simba gold projects in Tanzania.
Chief Executive Robbie McCrae says: ‘We're on track to achieve our goal of lifting gold output to 24,000 tonnes per annum by year end and look forward to reporting on continued progress. 2022 looks to be a game changing year not only at Kilimapesa but also for realising our East African gold ambitions more broadly.’
Current stock price: 0.70 pence, down 3.5% in London
12-month change: down 48%
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