DGWA UPDATE: CARACAL GOLD FIRST DAY OF DEALINGS
Caracal Gold plc completes successful RTO
starts trading in Frankfurt & London
Frankfurt am Main, August 31st, 2021: DGWA is pleased to announce in its function as lead European Manager of the RTO (Reverse Takeover), that the ordinary shares of Caracal Gold plc (“Caracal Gold” or “Caracal”), the gold producer with operations in East Africa, have commenced trading today on the Main Market of the London Stock Exchange plc (LSE: GCAT) with contemporaneous dual listing on the Frankfurt Stock Exchange (FSE: 6IK, WKN: A2AM01). As part of the RTO process, DGWA helped the company raise gross proceeds of approximately £5,493,885 through the issue of 638,951,276 Placing Shares completed in two rounds at a placing price of £0.01 per share, implying a market market capitalisation of circa £14.5 million on Readmission. The funds are used to further increase mine and gold production and processing plant throughput and efficiencies at its 100% owned Kilimapesa gold mine.
CARACAL GOLD INVESTMENT HIGHLIGHTS
- Only operational gold mine in Kenya. Cash generative and substantially de-risked
- Forecast low AISC-costs and strong operating margins from gold sales at 100% owned Kilimapesa Gold Mine.
- Defined growth strategy
- Phased growth plans and organic development at Kilimapesa as well as exciting acquisition opportunities under review.
- Robust market
- Gold market driven by several factors including financial and geopolitical uncertainties and low interest rates.
- Proven team
- Board and Management with track records in successfully developing and operating mining projects throughout Africa.
Stefan Müller, CEO of DGWA, comments, “We are delighted to see the trading commence on both the London and Frankfurt Stock Exchanges today. The company has made significant progress in their optimisation strategy and is moving closer to their production increase targets. The listing provides European shareholders with the opportunity to invest in an emerging East African focused gold producer with a clear growth strategy. We believe that the strong social and governance credentials built into the company’s vision coupled with a robust gold market and high volume of activity at Kilimapesa steady stream of news ahead for the company, we expect an increase in shareholder value. We are excited to continue supporting the company with its European activities as investor relations and corporate advisor.”
Robbie McCrae, CEO of Caracal, says, “DGWA’s engagement as lead European manager was material to the success of the RTO. The investor base DGWA has introduced to Caracal is well aware of our growth potential and long-term value drivers. We are excited to be partnering with DGWA in the future, to introduce the company to the European financial markets.”
Read the full PR here:
LINK: DGWA UPDATE – FIRST DAY OF DEALINGS