Caracal Gold’s Kenya’s wholly owned subsidiary, Kilimapesa Gold Pty Ltd (KPG) is set to expand its operations at Kilimapesa Gold Mine in Kenya.
The mine is located in a mining friendly jurisdiction in Narok County. The firm has a mining licence with a JORC resource, an established, producing, shallow underground mine and processing plant as well as an extensive prospecting permit. Gold ore is produced on site and exported to international refiners, offering immediate value uplift through revenue generation. Further upside can be seen through plant expansion and reserve and resource upgrade.
Kilimapesa Gold Mine
The miner’s objective is to expand its operations by undertaking exploratory drilling and open-cast mining at Kilimapesa Hill. The mine intends to use a combination of reverse circulation drilling, diamond drilling as well as open-pit mining to complement the underground mining currently in place. The company said it is awaiting approval for the expansion from the National Environment Management Authority (Nema).
Caracal acquired 100% ownership of Kilimapesa last year, and the company was listed on the London Stock Exchange in September. Caracal is also listed on the Frankfurt Stock Exchange & is currently in the process of being listed on the Nairobi Securities Exchange, which will make Caracal the first gold and related minerals miner on the exchange.
“We have had great success on this front to date, with production and processing output both increasing, and exploration drilling successfully growing the resource and ultimately the life of mine,” said CEO Robbie McCrae.
