– UK, London / KENYA, Nairobi – Caracal Gold plc (LON: GCAT | FSE: 6IK), the gold producer with operations in East Africa, today announced the addition of H.E. Ambassador Hon. Dan Kazungu, EGH to its Board as a Non-Executive Director, effective from 7 March 2022.
“We are delighted to welcome Ambassador Kazungu to the board at what is a crucial time for Caracal as we enter the next phase of our growth trajectory; aiming to double gold production to 24,000tpa at our flagship Kilimapesa Gold Mine in Kenya and expand our operations into Tanzania via our recent gold acquisitions. His wealth of experience in the region will be critical in helping us realize our ambition of becoming a major gold producer and mine developer in East Africa.” said CEO, Robbie McCrae.
About Ambassador Kazungu
Ambassador Kazungu joins the board of Caracal after serving as the Kenya High Commissioner to Tanzania, where he carried out an exemplary tour of duty. He is credited for resetting Kenya-Tanzania relations to their current, elevated level and transforming business and investment relations between the two countries.
Before his diplomatic mission to Tanzania, Ambassador Kazungu served as Cabinet Minister for Mining in the government of Kenya, where he drove mining and business reforms, which saw the country’s global mining ranking improve from 125th place to 83rd in just 12 months. During his tenure, the mining sector rose to become one of the top three growth sectors in Kenya’s economy.
Ambassador Kazungu also served as Member of Parliament for the Malindi constituency for a three-year period, where he successfully lobbied the central government to build vital regional infrastructure links including roads, an airport, and school – opening up the area to economic prosperity.
His corporate experience spans over 10 years working at tech companies IBM and Lenovo, where he worked as Territory Manager for Eastern Africa. His sterling work received a special mention by IBM at the New York Stock Exchange for delivering a successful growth strategy in Ethiopia.
Ambassador Kazungu is a Bachelor of Science graduate in Information Technology from Moi University in Kenya. He also holds a Master of Arts Degree in Diplomacy and Foreign Policy from the same university.
About Caracal Gold plc
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. It aims to rapidly increase production to +50,000ozs p.a. and build a JORC compliant resource base of +3Moz within 12-18 months from its listing in August 2021. To this end, it is progressing a well-defined mine optimization 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 25,000oz p.a. and the resource to +2Moz (current JORC compliant resources of approx. 671,000oz). Additionally, its experienced team, with a 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 the Frankfurt Stock Exchange (FSE: 6IK); a listing on the Nairobi Securities Exchange is underway.
For more information: https://caracalgold.com/
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