REG - Caracal Gold PLC - Board Changes

Caracal GoldAnnouncement

18/07/2022 07:30

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RNS Number : 7194S  Caracal Gold PLC  18 July 2022

 
Caracal Gold plc / EPIC: GCAT / Market: Main / Sector: Mining

18 July 2022

 
Caracal Gold plc ('Caracal' or the
'Company')

Board Changes

 

Caracal Gold plc, the expanding East African gold producer with over
1,300,000oz JORC-compliant gold resources, is pleased to announce that Mr.
Riaan Lombard has been appointed to the Board of Caracal Gold Plc ("Caracal")
as an Executive Director and Chief Operating Officer ("COO"), effective
immediately.  Mr. Lombard is a qualified mining engineer and native of
Namibia with 25 years of experience across a multitude of senior management
and technical roles and a diverse range of commodity projects in West Africa,
East Africa, and South America.

 

Mr. Lombard has held the role of General Manager of Caracal's fully owned
subsidiary Kilimapesa Gold (Pty) Ltd, which operates the Company's flagship
Kenyan mine, since February 2022 (refer RNS announcement 13 January 2022).
He has also been instrumental in Caracal's recent acquisition of the Nyakafuru
Project in Tanzania, which is located in the world-class Lake Victoria Gold
Fields.  Accordingly, Mr. Lombard is uniquely qualified support the Company,
as it focusses on delivering on its strategic objectives of building
production and profitability across its portfolio, targeting +50,000oz p.a.
gold production and +3Moz JORC Compliant Resources.

 

The Company is also pleased to announce the board appointment of Mr. Stefan
Mülller as a Non-Executive Director, effective immediately.  Mr. Müller has
extensive corporate and financial experience having supported over 250 capital
market transactions during his career and served on the boards of a number of
national and international companies.  He started his career at Dresdner Bank
AG in international securities trading before becoming Senior Vice President
at Bankhaus Sal Oppenheim (Europe's largest private bank at the time).  He
subsequently worked in asset management before founding DGWA - Deutsche
Gesellschaft für Wertpapieranalyse GmbH (German Institute for Asset and
Equity Allocation and Valuation), a German Investment Banking Boutique focused
on the global mining and resources industry, where he is still CEO.  He is
also a board member of the German Federation of International Mining and
Mineral Resources (FAB), and a member of the DIN Technical Committee, which is
establishing a new ISO standard for lithium.  His corporate and financial
experience will support the Company in delivering on its growth strategy.

 

As part of the Board changes, the Company announces that Mr. Gerard
Kisbey-Green, current Executive Director, will become a Non-Executive
Director, effective immediately.

 

Simon Games-Thomas, Chairman of Caracal Gold Plc said,

"We are delighted to welcome Riaan and Stefan to the Board.  Since joining
the Company in February, Riaan has enjoyed great success in helping us enhance
the operational efficiency and build production at our flagship Kilimapesa
Mine whilst also being a driving force in our acquisition of the Nyakafuru
Project in Tanzania, which offers significant growth opportunity.
Accordingly, his appointment as COO is an obvious next step.  Add to this the
Stefan's extensive financial and corporate experience and I believe that these
appointments round off the Board perfectly.  We look forward to working
together to continue to deliver on the overall strategy and success of
establishing Caracal as a leading East African gold producer."

The following information is disclosed about Mr. Riaan Lombard:

 

 Current Directorships / Partnerships  Previous Directorships / Partnerships held in the past 5 years

 Elspe Mineral (PTY) Ltd
 Elspe Mining

 

Mr. Lombard does not currently hold any ordinary shares in the Company.

 

The following information is disclosed about Mr. Stefan Mülller:

 

 Current Directorships / Partnerships                                            Previous Directorships / Partnerships held in the past 5 years

 DGWA - Deutsche Gesellschaft für Wertpapieranalyse GmbH (German Institute for
 Asset and Equity Allocation and Valuation)
 German Federation of International Mining and Mineral Resources (FAB)
 AGRARIUS AG - Supervisory Board

 

Mr. Stefan Mülller currently holds 10,000,000 ordinary shares in the Company.

 

**ENDS**

 

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

 

 Caracal Gold plc                                     info@caracalgold.com

 Robbie McCrae

 Sheila Boit
 VSA Capital Ltd                                      +44 203 005 5000

 Financial Adviser and Joint Broker

 Andrew Raca (Corporate Finance)

 David Scriven / Andrew Monk (Corporate Broking)

 Clear Capital Markets Limited                        +44 203 897 0981 / +44 203 869 6086

 Joint Broker

 Keith Swann / Jon Critchley

 St Brides Partners Ltd                               caracal@stbridespartners.co.uk

  Financial PR

 Charlotte Page / Isabel de Salis / Isabelle Morris
 DGWA, the German Institute for Asset and             info@dgwa.org

 Equity Allocation and Valuation

 European Investor and Corporate Relations Advisor

 Katharina Löckinger

 

Notes

Caracal Gold plc is an emerging 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.  To this
end, it 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 ability to increase gold production to 24,000oz p.a.
and the resource to +2Moz (current JORC compliant resources of approx.
671,000oz). Additionally, its experienced team, with proven track record in
successfully developing and operating mining projects throughout Africa, is
reviewing other complementary and strategically located gold mine and
development projects in East Africa.

 

Caracal 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); a listing on the
Nairobi Securities Exchange is underway.

 

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