Caracal Gold – a penny stock with upside?

The chief executive of Caracal Gold, Robbie McCrae, says the company’s current share price of 0.67p undervalues the business considering its aim to produce 24,000oz of gold a year from its Kenyan project within twelve months. He tells IGTV’s Jeremy Naylor that the point to establish is whether the company has the skillset, the financial firepower, and the opportunity to ramp up production from the current levels of just 1,000oz of gold per year.

With $1 million of cash, and the income coming through from existing production, the board is being careful with its resources, but is mindful of the potential need to come to the markets. McCrae has a shareholding in the business and so understands the need to avoid any dilution. The discussion expands away from Kenya to Tanzania where the company also has assets which it is hoped will be ramped up.

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