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 Corporation Plc (CMCL) announced a notification from Allan Gray Proprietary Limited regarding a change in its interest. As of March 28, 2023, Allan Gray crossed a specific threshold for notification. Following this, on March 30, 2023, the company received formal notification of these changes. The current holdings of Allan Gray include 2,180,070 voting rights, representing 12.0679% of total voting rights. Comparatively, their previous position was 16.129%. This reduction in percentage indicates a decrease in voting power, which could impact shareholder dynamics within Caledonia Mining.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has announced a quarterly dividend of US$0.14 per share, with ex-dividend dates set for April 12 and 13, 2023, and a payment date of April 28, 2023. The total dividend for 2022 was 56 cents per share, marking a 12% increase from 2021's 50 cents. CEO Mark Learmonth emphasized that this consistent dividend is central to the company's strategy, distinguishing Caledonia from its peers. The company's dividend policy, adopted in 2014, aims to maximize shareholder value and will consider future increases based on prudent risk management.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced an extension of the closing date for its Zimbabwe Placing from March 31, 2023, by up to one week. This decision results from a higher than anticipated demand from existing and new Zimbabwean institutional shareholders. The Placing is expected to raise over US$3 million. A further announcement will detail the funds raised and the shares issued. The extension aims to accommodate shareholders needing additional time to fulfill administrative requirements.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced it will issue 441,095 Escrow Shares to Shining Capital Holdings II LP, following approval from The Reserve Bank of Zimbabwe. This decision relates to the acquisition of Bilboes Gold Limited, originally mentioned on January 6, 2023. After the share issuance scheduled for April 4, 2023, Shining Capital's stake in Caledonia will increase to 9.88% of the fully diluted share capital, totaling 1,827,818 shares. Caledonia's total outstanding shares will rise to 18,506,156, excluding additional shares from a pending Zimbabwe Placing. The company retains 256,152 Deferred Shares for adjustments related to liabilities.
Caledonia Mining Corporation Plc (CMCL) has announced the availability of materials for its upcoming annual general meeting (AGM), set for May 9, 2023, at the Radisson Blu Waterfront Hotel in Jersey. The documents include the AGM notice and a management information circular for proxy solicitation. Shareholders can access these resources online. This AGM is a key opportunity for shareholders to engage with the company regarding its future direction and governance. For further inquiries, contact details for management and brokers are provided.
Caledonia Mining Corporation Plc (CMCL) has announced a successful fundraising of approximately £8.7 million (US$10.6 million) through a Placing, which drew significant interest from institutional investors. The Placing is set to remain open until March 31, 2023, with 781,749 Placing Shares allocated. The funds will enhance the company's balance sheet, support working capital, and accelerate development at three gold projects in Zimbabwe. CEO Mark Learmonth expressed optimism about institutional support for the company’s growth initiatives. Following this issuance, the total number of Common Shares in circulation will be 18,065,061.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has announced a proposal to raise approximately £8.1 million (around US$10 million) through a placing of new common shares at £11.15 per share, reflecting a 13.2% discount to the previous close. The fundraise will support the ongoing development of gold projects in Zimbabwe, including the recently acquired Bilboes project, which holds significant gold reserves. The company has reported FY 2022 revenues of US$142 million and EBITDA of US$50.4 million. The gold production guidance for 2023 is set between 87,500 and 97,000 ounces. Admission of new shares is expected on AIM by March 30, 2023.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced its financial results for 2022, reporting gross revenues of $142 million, up from $121 million in 2021. The company achieved a gross profit of $61.8 million and EBITDA of $50.4 million. Gold production reached a record 80,775 ounces, with a forecast of 87,500 - 97,000 ounces for 2023. A significant acquisition of the Bilboes gold project was completed, boasting 1.96 million ounces in reserves. A solar plant at Blanket Mine is expected to cut production costs significantly. Despite these achievements, net cash decreased to $1.5 million from $16.3 million in 2021, raising concerns for investors.
Caledonia Mining Corporation announced the filing of a new NI 43-101 technical report for its Blanket Mine in Zimbabwe, confirming earlier updates on mineral resources and reserves. The report estimates total measured and indicated mineral resources of 1,095,000 ounces of gold within 10.72 million tonnes at 3.18g/t. It also notes total mineral reserves of 395,000 ounces of gold in 3.94 million tonnes at 3.12g/t. These figures support the company's ongoing operations and future mining activities.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) reported a tragic accident at its Blanket Mine in Zimbabwe on February 16, 2023, resulting in the death of one employee during secondary blasting operations. The company is currently awaiting further details pending an official inquiry by the relevant authorities. Caledonia has expressed condolences to the deceased's family and colleagues. The incident highlights critical safety concerns within mining operations, but no further information is available regarding its impact on company operations or financial performance at this time.
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