Welcome to our dedicated page for Caledonia Mining news (Ticker: CMCL), a resource for investors and traders seeking the latest updates and insights on Caledonia Mining stock.
Caledonia Mining Corporation Plc (CMCL) provides investors and industry observers with comprehensive updates through this centralized news hub. Focused on gold production from its Zimbabwe-based operations, this page aggregates official announcements, quarterly results, and strategic developments from the company's core assets.
Access timely updates on the Blanket Mine's production metrics, exploration progress at Maligreen and Motapa projects, and corporate initiatives shaping CMCL's position in southern Africa's mining sector. Our curated collection serves as your primary source for operational updates, resource estimates, and management commentary - essential for understanding this gold producer's market trajectory.
Key updates include quarterly production reports, reserve disclosures, infrastructure investments, and sustainability initiatives. Bookmark this page to monitor CMCL's progress in optimizing its flagship operation while expanding its asset base through strategic exploration.
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.
Caledonia Mining Corporation Plc (CMCL) has announced that its 12MWac solar project, operational since November 2022, is exceeding expectations by supplying approximately 27% of the Blanket mine's daily electricity demand. The announcement coincides with improved power supply from the Zimbabwe grid, significantly lowering diesel consumption. In January 2023, diesel usage dropped to 18,000 litres compared to 120,000 litres per month throughout 2022. CEO Mark Learmonth expresses confidence in ongoing reductions in diesel use, supporting the company's investment in solar energy and commitment to its ESG strategy.
Caledonia Mining Corporation Plc (CMCL) announced a 52% increase in Measured and Indicated Mineral Resources to 1,095,000 ounces of gold at its Blanket Mine in Zimbabwe. The Mineral Reserves estimate saw a slight increase of 1%, now totaling 395,000 ounces. This update follows the completion of the Central Shaft, enabling improved exploration and digital estimation methods. In 2022, the company met its production target of 80,000 ounces of gold, bolstered by a favorable gold price, positioning it well for future asset development.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced a notification received from significant shareholder Van Eck Associates on January 19, 2023. Following the completion of the transaction for Bilboes Gold Limited, the company issued 4,425,797 new shares, representing 25.64% of its fully diluted share capital. Consequently, Van Eck's percentage in the fully diluted share capital has decreased. The resulting situation shows Van Eck holding 3.08% of the voting rights, down from 4.12% previously reported.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has notified that Allan Gray Proprietary Limited, a significant shareholder, has reduced its stake following the issuance of 4,425,797 new shares after acquiring Bilboes Gold Limited. As a result, Allan Gray's interest decreased from 16.13% to 11.99% of the fully diluted share capital. This change in voting rights was officially communicated on January 12, 2023, after the threshold was crossed on January 10, 2023.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced record gold production of 80,775 ounces for 2022, exceeding guidance by over 1,000 ounces and reflecting a 19.7% increase from 2021. The company produced 21,049 ounces in Q4 2022, a 13.1% rise year-over-year. For 2023, Caledonia forecasts gold production of 75,000 – 80,000 ounces from Blanket Mine and 12,500 – 17,000 ounces from the Bilboes oxides project. The total anticipated capital expenditure is $30.9 million, with strategies to manage costs amid inflationary pressures. CEO Mark Learmonth emphasized continued growth and operational stability.
Caledonia Mining Corporation Plc (CMCL) announced the issuance of 24,389 common shares on January 11, 2023, as part of its long-term incentive plan. These shares will be distributed to staff members, including 10,330 shares to CEO Mark Learmonth and 1,526 shares to CFO Chester Goodburn. Following this issuance, the total number of shares in circulation will reach 17,283,312. Additionally, depositary interests representing these shares will be available for trading on AIM starting January 17, 2023.
Caledonia Mining Corporation has completed the acquisition of Bilboes Gold Limited, acquiring a significant gold project in Zimbabwe. The total consideration includes 5,123,044 shares, roughly 28.5% of Caledonia's diluted share capital, and a 1% net smelter royalty on revenues from the Bilboes project. This project boasts proven reserves of 1.96 million ounces of gold and the potential for annual production of 168,000 ounces over a 10-year lifespan, based on a feasibility study. Ore production is expected to commence in February 2023.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has declared a quarterly dividend of 14 cents per share, payable on January 27, 2023. CEO Mark Learmonth highlighted significant advances in their strategy to become a multi-asset gold producer, including the acquisition of Bilboes Gold Limited and Motapa Mining Company UK Limited. The company is on track to meet its 2022 gold production guidance of 73,000 to 80,000 ounces. Shareholders will receive payments in Sterling if registered in the UK, with ex-dividend dates set for January 11 and 12, 2023.
