Welcome to our dedicated page for Caledonia Mining Corporation Plc news (Ticker: CMCL), a resource for investors and traders seeking the latest updates and insights on Caledonia Mining Corporation Plc stock.
Caledonia Mining Corporation Plc (symbol: CMCL) is a dynamic gold exploration, development, and mining company headquartered in Mississauga, Ontario, Canada. This mining and metals company operates primarily through its flagship Blanket Mine located in the south-west of Zimbabwe. The Blanket Mine, a profitable venture, operates at a depth of approximately 750 meters below the surface and is the primary revenue generator for Caledonia Mining Corp.
The company's diversified portfolio also includes the Bilboes Oxide Mine and several exploration and development projects such as Maligreen and Motapa. These strategic projects underscore the company's commitment to expanding its gold production capabilities and enhancing shareholder value.
Recent Achievements:
- Caledonia Mining Corp has made significant strides in increasing its gold production, which is reflected in its strong financial performance.
- The latest mineral resource estimate in the Preliminary Economic Assessment (PEA) based on a 0.9g/t Au Cut-Off Grade highlights the potential for further resource expansion.
- The company continues to engage with stakeholders, evidenced by recent announcements such as the TR-1: Standard form for notification of major holdings and the upcoming Q1 2024 Results Call for Shareholders.
Current Projects:
- The Blanket Mine remains the cornerstone of Caledonia's operations, contributing the majority of its revenue.
- The Bilboes Oxide Mine is under development, with significant potential for future gold production.
- Exploration projects like Maligreen and Motapa are in various stages of development, promising future growth.
The company's strategic focus on operational efficiency, cost control, and targeted exploration ensures sustainable growth and profitability. With a strong balance sheet and a dedicated management team, Caledonia Mining Corp continues to position itself as a significant player in the gold mining industry.
Caledonia Mining (NYSE AMERICAN, AIM and VFEX: CMCL) has entered into an 'At the Market' (ATM) sales agreement with Cantor Fitzgerald & Co. The agreement allows Caledonia to sell up to $50 million worth of shares through ordinary brokers' transactions or block trades on NYSE American at market prices.
The company plans to use the net proceeds for developing the Bilboes sulphide project. Caledonia has filed a technical report summary for the Bilboes Gold Project, prepared by DRA Projects, with an effective date of May 30, 2024. The company expects to publish a new feasibility study for the project in Q1 2025.
An application has been made to AIM for a block admission of 4,000,000 new depositary interests. The company's issued share capital remains at 19,214,554 shares.
Caledonia Mining announces that CEO and Director Mark Learmonth purchased 2,047 depositary interests at GBP8.30 per interest on December 6, 2024. Following this transaction, Learmonth now holds 187,031 shares, representing approximately 0.97% of Caledonia's issued share capital.
Caledonia Mining (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a significant shareholding change on November 21, 2024. BlackRock's total position reached 5.00% of voting rights, consisting of 4.74% direct voting rights attached to shares (911,836 shares) and 0.25% through financial instruments (49,190 shares via CFDs). The notification was received on November 22, 2024, marking a crossing of the threshold for relevant change as defined by AIM Rules for Companies.
Caledonia Mining (NYSE AMERICAN: CMCL) received two notifications from BlackRock, Inc. regarding changes in shareholding. The first notification on November 19, 2024, showed BlackRock held a 5.00% stake (960,786 shares) as of November 18, comprising 4.74% in voting rights and 0.25% in financial instruments. The second notification on November 20, 2024, indicated a slight decrease to 4.98% (957,680 shares) as of November 19, with 4.72% in voting rights and 0.25% in financial instruments.
Caledonia Mining (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a change in shareholding that crossed a threshold for notification on November 15, 2024. According to the detailed notification, BlackRock's total position decreased to 4.99% of voting rights, consisting of 4.74% in direct shares (911,442 voting rights) and 0.25% through financial instruments (49,190 voting rights through CFDs), down from a previous position of 5.02%.
Caledonia Mining (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a change in shareholding that crossed a threshold for notification on November 11, 2024. According to the notification, BlackRock's total position increased to 5.02% of voting rights, consisting of 4.76% voting rights attached to shares (915,643 shares) and 0.25% through financial instruments (49,190 CFDs). This represents a total of 964,833 voting rights in the issuer.
Caledonia Mining (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a change in shareholding that crossed a threshold for notification on November 7, 2024. According to the notification, BlackRock's total position decreased to 4.97% of voting rights, consisting of 4.72% in direct shares (907,873 voting rights) and 0.25% through financial instruments (48,864 voting rights through CFDs), totaling 956,737 voting rights. This represents a slight decrease from their previous position of 5.00%.
Caledonia Mining has declared a quarterly dividend of 14 cents (US$0.14) per share. The dividend schedule includes: ex-dividend dates of November 20, 2024 (VFEX), November 21, 2024 (AIM), and November 22, 2024 (NYSE American); record date of November 22, 2024; and payment date of December 6, 2024. UK shareholders will receive payment in Sterling. The company's dividend policy, established in 2014, aims to maximize shareholder value while maintaining a prudent approach to risk management.
Caledonia Mining reported Q3 2024 results with revenues of $46.9 million and gross profit of $19.3 million, up from $14.1 million in Q3 2023. Gold production was 18,992 ounces, lower than Q3 2023's 21,772 ounces. The company's all-in sustaining cost increased to $1,501 per ounce from $1,268 in Q3 2023. Net cash from operations decreased to $4.6 million from $14.5 million. A dividend of 14 cents per share was declared. The company signed a conditional agreement to sell its solar plant for $22.35 million while maintaining power supply. Production guidance for 2024 remains at 74,000-78,000 ounces at Blanket mine.
Caledonia Mining has announced encouraging initial results from its exploration program at Motapa Gold Project in Zimbabwe, adjacent to its Bilboes Gold Project. The program included 12,724m of trenching, 4,143m of diamond drilling, and 5,433m of reverse circulation drilling, revealing widespread gold mineralization over a 9km strike length.
Notable drilling highlights include intersections of 12.00m at 6.36g/t and 13.00m at 5.17g/t from the Jupiter area. The exploration focused on testing mineralization below historic oxide open pits and new target areas, with results confirming Motapa's strategic importance in the company's growth plans alongside the planned Bilboes development.
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