RNS. Potential $5 million funding injection by Cynergy. |
They need to get the 2024 accounts done quickly as it was outrageous delaying the 2023 accounts for over a year. Then the auditors resigned . Does not say much for the quality of their accounting systems and Finance Director. |
 14 October 2024
Caracal Gold Plc
('Caracal' or the 'Company')
Funding update
Caracal Gold Plc, the East African gold producer with over 1,300,000 oz JORC compliant gold resources, is pleased to provide an update on funding.
Following the announcement on 1 October 2024 pertaining to the Financing Agreement with Koenig Vermoegensverwal mbH in the amount of US $500,000 and the Loan Agreement with Robbie McCrae, the CEO of Caracal, in the amount of US $100,000 the company confirms that both amounts have been received by the Company.
Simon Grant-Rennick, Chairman of Caracal states:
"The Company has a clear plan for both the corporate and project areas of the business and are working hard to deliver.
On the corporate side, the finance team are completing the December 2023 interim accounts and along with the auditors, are progressing the June 2024 year-end financial statements.
On the project side, the funding for the Kilimapesa expansion is the focus and closing the Cynergy transaction is a key input of this funding. We expect to provide an update on this funding in the near future. Everything we set out to achieve at Kilimapesa, in 2022, unlocks with this funding.
The strategy for Tanzania will become clear in the near future. A fully permitted development project with 650kz in JORC resources combined with current high gold prices is a very valuable asset.
As we all know the Caracal team, from the Board to management to operations, was drastically reduced, but with the frustration of the 2023 audit behind us, the Cynergy transaction progressing and the 1st mining license in Tanzania approved, the outlook for Caracal is starting to move in the right direction and the company will start to evaluate key appointments across all areas of the business.
An important focus, going back to when I was appointed as Chairman, was to strengthen the areas of the finance team and the Corporate Governance. This was done and going forward we will continue to strengthen these areas alongside the key appointments mentioned above. All Caracal team members are and will be focussed on delivering value for all stakeholders by building trust, mitigating risks and driving sustainable growth." |
How much longer for these accounts to be
Published come on guys get your act together |
Yes me to I Web looking in to it |
...anyone else here have their shares with Halifax sharedealing. Mine this morning are showing at 27.2p, which gave me the following shock:
CARACAL GOLD PLC ORD GBP0.001 (GCAT)
300000 0.304p £911.91 27.20p £81,600.00 £80,688.09 8,848.25% |
Keeps the dodgy BOD in a job for a bit longer. |
Well AIUI Cygnet are paying $6m for 35% of GCAT. Presumably this means that there are going to be something like 3.5 billion shares in issue.
If we say, on the basis of this valuation, that the whole shooting match is worth $18m then that means each share is worth £0.005.
As for the fundraising in the future Cygnet have 'the option' to subscribe for 29.9% of the share capital at this price.
What I imagine will happen is that Cygnet will not take the option and will subscribe at a price well below even the derisory present deal which will wipe out shareholders.
We shall see |
Finally some news. Funding about to be secured. Hopefully the delayed accounts and prospectus next. |
Cmon RM the gold price is flying - got to be able to get this one away on the rise surely? |
With gold prices at ATH it bloomin well should do but who knows with no proper board in place! |
Will this ever come good ? |
Results & relist next week? |
Accounts to be issued with new interims. Due by 31st March so should be back trading after Easter! |
An update - |
Still awaiting accounts and relisted my. Hopefully the funding package can be closed out soon after! |
What has happened to this company? |
Should be relisted by end of next week imo. Tweet out saying finishing touches to accounts audit being done this last weekend! |
Another fundraise but at least it's small and at a premium to suspended sp! |
After closure an RNS loan announcement. Progress of a sort hopefully! |
Sentiment changes here in the blink of an eye.
Pretty dramatic yesterday.
GCAT not for the faint hearted that's for sure.
GLA whatever you decide. |
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