The company plans further exploration in Kenya and east Africa after its hits a targeted increase in gold production at the Kilimapesa mine in Kenya, McCrae says. Kenya is “very underexplored” though Caracal is also open to opportunities in other parts of east Africa, he says.
Kilimapesa, located 20km north of the Tanzanian border, has resources of 706,000 ounces of gold. The company’s current focus is on increasing production there to 24,000 ounces per year in the first quarter of 2023. Caracal is on course to deliver that goal, McCrae says, and is “continually evaluating options” in Kenya. McCrae is also open to opportunities in other commodities.