Caledonia Mining Corporation Plc: Third Quarter Production at Blanket Mine
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has announced gold production from the Blanket Mine in Zimbabwe for Q3 2024. Key highlights include:
- Quarterly gold production of 18,992 ounces (down from 21,772 ounces in Q3 2023)
- Gold produced in the first nine months of 2024 was 56,815 ounces (up from 55,244 ounces in 2023)
- Caledonia reiterates its 2024 gold production guidance of 74,000 to 78,000 ounces
The company also announced changes to its dividend declaration timing, which will now align with quarterly results publication. This change does not affect the company's dividend policy. The Q3 2024 dividend, if approved, will be declared in mid-November.
Caledonia Mining Plc (NYSE AMERICAN, AIM e VFEX: CMCL) ha annunciato la produzione di oro dalla Blanket Mine in Zimbabwe per il terzo trimestre del 2024. I punti salienti includono:
- Produzione di oro trimestrale di 18.992 once (in diminuzione rispetto alle 21.772 once del terzo trimestre del 2023)
- Oro prodotto nei primi nove mesi del 2024 è stato 56.815 once (in aumento rispetto alle 55.244 once del 2023)
- Caledonia ribadisce le sue previsioni di produzione di oro per il 2024 di 74.000 a 78.000 once
La società ha anche annunciato cambiamenti nel timing della dichiarazione dei dividendi, che ora sarà allineato con la pubblicazione dei risultati trimestrali. Questo cambiamento non influisce sulla politica dei dividendi dell'azienda. Il dividendo del terzo trimestre del 2024, se approvato, sarà dichiarato a metà novembre.
Caledonia Mining Plc (NYSE AMERICAN, AIM y VFEX: CMCL) ha anunciado la producción de oro de la Blanket Mine en Zimbabue para el tercer trimestre de 2024. Los principales aspectos a destacar incluyen:
- Producción de oro trimestral de 18,992 onzas (en comparación con 21,772 onzas en el tercer trimestre de 2023)
- El oro producido en los primeros nueve meses de 2024 fue 56,815 onzas (un aumento desde 55,244 onzas en 2023)
- Caledonia reitera su guía de producción de oro para 2024 de 74,000 a 78,000 onzas
La empresa también anunció cambios en el calendario de declaración de dividendos, que ahora se alineará con la publicación de resultados trimestrales. Este cambio no afecta la política de dividendos de la empresa. El dividendo del tercer trimestre de 2024, si se aprueba, se declarará a mediados de noviembre.
칼레도니아 마이닝 PLC (NYSE AMERICAN, AIM 및 VFEX: CMCL)는 2024년 3분기 짐바브웨 블랭킷 광산의 금 생산을 발표했습니다. 주요 내용은 다음과 같습니다:
- 3분기 금 생산량 18,992 온스 (2023년 3분기 21,772 온스 대비 감소)
- 2024년 처음 아홉 달 동안 생산된 금 56,815 온스 (2023년 55,244 온스 대비 증가)
- 칼레도니아는 2024년 금 생산 가이드를 74,000에서 78,000 온스로 재확인했습니다.
회사는 또한 배당금 선언 일정에 변경 사항을 발표했으며, 이제 분기 결과 발표와 일치하게 될 것입니다. 이 변경 사항은 회사의 배당 정책에 영향을 미치지 않습니다. 2024년 3분기 배당금은 승인될 경우 11월 중순에 발표됩니다.
Caledonia Mining Plc (NYSE AMERICAN, AIM et VFEX: CMCL) a annoncé la production d'or de la Blanket Mine au Zimbabwe pour le troisième trimestre 2024. Les points clés incluent :
- Production d'or trimestrielle de 18 992 onces (en baisse par rapport à 21 772 onces au T3 2023)
- L'or produit au cours des neuf premiers mois de 2024 s'élevait à 56 815 onces (en hausse par rapport à 55 244 onces en 2023)
- Caledonia réitère ses prévisions de production d'or pour 2024 de 74 000 à 78 000 onces
La société a également annoncé des changements dans le calendrier de déclaration des dividendes, qui sera désormais aligné sur la publication des résultats trimestriels. Ce changement n'affecte pas la politique de dividende de l'entreprise. Le dividende du T3 2024, s'il est approuvé, sera déclaré à la mi-novembre.
Caledonia Mining Plc (NYSE AMERICAN, AIM und VFEX: CMCL) hat die Goldproduktion aus der Blanket Mine in Simbabwe für das dritte Quartal 2024 bekannt gegeben. Wichtige Highlights sind:
- Quartals-Goldproduktion von 18.992 Unzen (im Vergleich zu 21.772 Unzen im 3. Quartal 2023)
- Im ersten neun Monaten des Jahres 2024 produzierte Gold betrug 56.815 Unzen (ein Anstieg von 55.244 Unzen im Jahr 2023)
- Caledonia bekräftigt die Produktionsprognose für Gold im Jahr 2024 von 74.000 bis 78.000 Unzen
Das Unternehmen gab auch Änderungen beim Zeitpunkt der Dividendenauszahlung bekannt, die nun mit der Veröffentlichung der Quartalsergebnisse übereinstimmen werden. Diese Änderung hat keinen Einfluss auf die Dividendenpolitik des Unternehmens. Die Dividende für das 3. Quartal 2024, sofern genehmigt, wird Mitte November bekannt gegeben.
- Gold production for the first nine months of 2024 increased to 56,815 ounces from 55,244 ounces in 2023
- Company maintains its 2024 gold production guidance of 74,000 to 78,000 ounces
- Quarterly gold production decreased to 18,992 ounces in Q3 2024 from 21,772 ounces in Q3 2023
Insights
Caledonia Mining's Q3 2024 production report shows mixed results. Gold production at Blanket Mine was 18,992 ounces, down
The company maintains its 2024 production guidance of 74,000 to 78,000 ounces, which suggests confidence in Q4 performance. The change in dividend declaration timing to align with quarterly results is a neutral administrative adjustment.
While the quarterly production decline is concerning, the overall year-to-date growth and maintained guidance indicate the company is still on track. Investors should monitor Q4 results closely to assess if Caledonia can meet its annual targets and maintain its dividend policy.
The production dip at Blanket Mine in Q3 2024 warrants attention. While quarterly fluctuations are common in mining, a
Maintaining the annual guidance implies Caledonia expects a strong Q4, potentially due to accessing higher-grade ore or increased processing efficiency. The company's confidence in meeting its targets despite the Q3 dip is a positive sign.
The mention of a "Qualified Person" reviewing the technical information adds credibility to the report. Investors should look for explanations of the Q3 production decrease and details on how Caledonia plans to achieve its Q4 targets in the upcoming full quarterly report.
Production tracking guidance at Blanket Mine
ST HELIER, Jersey, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (NYSE AMERICAN, AIM and VFEX: CMCL) ("Caledonia" or the "Company") announces gold production from the Blanket Mine in Zimbabwe ("Blanket") for the quarter ended September 30, 2024 ("Q3 2024" or the "Quarter"). All production numbers are expressed on a 100 per cent basis and are based on the final assay at the refiners.
Highlights
- Quarterly gold production of 18,992 ounces (Q3 2023: 21,772 ounces; this was a quarterly record for Blanket).
- Gold produced in the nine months to the end of September was 56,815 ounces (2023: 55,244 ounces).
- Caledonia reiterates its gold production guidance for 2024 of between 74,000 and 78,000 ounces¹.
Dividend
- As previously announced, in the Company’s last quarterly results, to streamline board processes, future dividends are expected to be declared at the same time as the publication of quarterly results (i.e. mid-March, May, August, and November). This will mean that the Q3 2024 dividend, if approved by the board, will be declared in mid-November rather than at the start of October.
- This change relates only to the timing of future dividends and does not denote any change in the Company's dividend policy.
- The board will continue to consider the dividend as appropriate in line with other investment opportunities and its prudent approach to risk management.
Craig James Harvey, MGSSA, MAIG, Caledonia’s Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a "Qualified Person" as defined by each of (i) the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act.
Enquiries
Caledonia Mining Corporation Plc Mark Learmonth Camilla Horsfall | Tel: +44 1534 679 800 Tel: +44 7817 841 793 |
Cavendish Capital Markets Limited (Nomad and Joint Broker) Adrian Hadden Pearl Kellie | Tel: +44 207 397 1965 Tel: +44 131 220 9775 |
Panmure Liberum (Joint Broker) Scott Mathieson/ Matt Hogg | Tel: +44 20 3100 2000 |
Camarco, Financial PR (UK) Gordon Poole Julia Tilley Elfie Kent | Tel: +44 20 3757 4980 |
3PPB (Financial PR, North America) Patrick Chidley Paul Durham | Tel: +1 917 991 7701 Tel: +1 203 940 2538 |
Curate Public Relations (Zimbabwe) Debra Tatenda | Tel: +263 77802131 |
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe) Lloyd Mlotshwa | Tel: +263 (242) 745 119/33/39 |
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¹Refer to technical report “NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe” with effective date December 31, 2023 prepared by Caledonia Mining Corporation Plc and filed by the Company on SEDAR+ (www.sedarplus.ca) on May 15, 2024
Note: The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014 (“MAR”) as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
Cautionary Note Concerning Forward-Looking Information
Information and statements contained in this news release that are not historical facts are “forward-looking information” within the meaning of applicable securities legislation that involve risks and uncertainties relating, but not limited, to Caledonia’s current expectations, intentions, plans, and beliefs. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “goal”, “plan”, “target”, “intend”, “estimate”, “could”, “should”, “may” and “will” or the negative of these terms or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. The forward-looking information contained in this news release is based, in part, on assumptions and factors that may change or prove to be incorrect, thus causing actual results, performance or achievements to be materially different from those expressed or implied by forward-looking information. Such factors and assumptions include, but are not limited to: the successful implementation of mine plans, the establishment of estimated resources and reserves, the grade and recovery of minerals which are mined varying from estimates, success of future exploration and drilling programs, reliability of drilling, sampling and assay data, the representativeness of mineralization being accurate, success of planned metallurgical test-work, capital availability and accuracy of estimated operating costs, obtaining required governmental, environmental or other project approvals, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and Caledonia’s experience of project development in Zimbabwe and other factors.
To the extent any forward-looking information herein constitutes a financial outlook or future oriented financial information, any such statement is made as of the date hereof and included herein to provide prospective investors with an understanding of the Company's plans and assumptions. Security holders, potential security holders and other prospective investors should be aware that these statements are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. Such factors include, but are not limited to: risks relating to estimates of mineral reserves and mineral resources proving to be inaccurate, fluctuations in gold price, risks and hazards associated with the business of mineral exploration, development and mining, risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom the Company does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards, employee relations; relationships with and claims by local communities and indigenous populations; political risk; risks related to natural disasters, terrorism, civil unrest, public health concerns (including health epidemics or outbreaks of communicable diseases such as the coronavirus (COVID-19)); availability and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development, including the risks of obtaining or maintaining necessary licenses and permits, diminishing quantities or grades of mineral reserves as mining occurs; global financial condition, the actual results of current exploration activities, changes to conclusions of economic evaluations, and changes in project parameters to deal with unanticipated economic or other factors, risks of increased capital and operating costs, environmental, safety or regulatory risks, expropriation, the Company’s title to properties including ownership thereof, increased competition in the mining industry for properties, equipment, qualified personnel and their costs, risks relating to the uncertainty of timing of events including targeted production rate increase and currency fluctuations. Security holders, potential security holders and other prospective investors are cautioned not to place undue reliance on forward-looking information. By its nature, forward-looking information involves numerous assumptions, inherent risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and various future events will not occur. Caledonia undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
This news release is not an offer of the shares of Caledonia for sale in the United States or elsewhere. This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the shares of Caledonia, in any province, state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such province, state or jurisdiction.
FAQ
What was Caledonia Mining's (CMCL) gold production at Blanket Mine for Q3 2024?
How does Caledonia Mining's (CMCL) Q3 2024 gold production compare to the same period last year?
What is Caledonia Mining's (CMCL) gold production guidance for 2024?