Caracal Gold PLC Chairman Confirmation & Governance Review Update
26 April 2023 - 4:00PM
RNS Non-Regulatory
TIDMGCAT
Caracal Gold PLC
26 April 2023
Caracal Gold plc
('Caracal' or the 'Company')
Confirmation of Executive Chairman and Corporate Governance
Review
Caracal Gold plc, the expanding East African gold producer with
over 1,300,000oz JORC-compliant gold resources, is pleased to
announce that Mr Simon Grant Rennick has been formally confirmed as
Executive Chairman of the Company, and that since the announcement
on 23 January 2023 appointing him 'Chairman Designate', substantial
progress has been made on the review of the Company's corporate
governance policies and procedures, with an update expected to be
announced shortly.
Confirmation of Executive Chairman
Following the completion of certain commercial and legal
formalities, Simon Grant Rennick has been confirmed as Executive
Chairman of Caracal Gold plc. Mr Grant Rennick is a graduate of the
Cambourne School of Mines. His expertise encompasses not only
mining and minerals but also metals, agriculture, and property. He
has managed mining companies, both public and private, in Uganda,
Malawi, Kenya, Mexico and Botswana; metal trading businesses in
Bermuda and in the UK; was a co-founder of Industrial Mineral
Finance House which provides consultancy services covering all
aspects of the industrial minerals' sector; and established a
property development business (since sold).
Corporate Governance Review Update
The comprehensive review of the Company's corporate governance,
regulatory compliance, and communications policies will be released
shortly. The review is considering the structure of the board,
including the mix of executives and non-executives, as well as all
corporate-governance related matters, practices, and policies with
the objective of improving internal procedures.
Robbie McCrae, CEO of Caracal, commented :
"The Company is delighted that Simon Grant Rennick has now been
formally appointed as Executive Chairman. His expansive knowledge
of mining and extensive experience leading UK listed companies
makes him the ideal person to review the Company's corporate
governance procedures. I look forward to implementing the findings
of his report shortly."
**END**
For further information visit www.caracalgold.com or contact the
following:
Caracal Gold plc robbie@kilimapesa.com
Robbie McCrae
Clear Capital Markets Ltd
Joint Broker +44 203 897 0981
Keith Swann / Jonathan Critchley +44 203 869 6086
----------------------
VSA Capital Ltd
Financial Adviser and Joint
Broker
Andrew Raca (Corporate Finance) +44 203 005 5000
----------------------
DGWA, the German Institute info@dgwa.org
for Asset and
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 is
undertaking a targeted exploration programme at 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.
Caracal's shares are quoted on the Main Market of the London
Stock Exchange (LON: GCAT) and on the Frankfurt Stock Exchange
(FSE: 6IK). The Company is also in the process of listing on the
Nairobi Securities Exchange.
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