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 (NYSE AMERICAN: CMCL) has appointed Dana Roets to its board, effective immediately. Roets, who has been the Chief Operating Officer since 2013, boasts over 34 years of experience in the gold and platinum industries. Under his leadership, Blanket Mine's production rose by over 60% from 2014 to 2021. The company anticipates an increase in annual gold production to approximately 80,000 ounces starting in 2022. Roets aims to steer Caledonia toward becoming a multi-asset gold producer while continuing his operational oversight.
Caledonia Mining Corporation Plc (CMCL) reported robust performance at its Blanket Mine in Zimbabwe for Q4 2021, achieving a record annual gold production of 67,476 ounces, up 17% from 2020. The quarterly production also increased by 24% to 18,604 ounces. The company anticipates 2022 production between 73,000 and 80,000 ounces. Notably, the company has maintained a strong safety record with over 2.4 million fatality-free shifts since 2018, thanks to its dedicated workforce and the successful commissioning of the Central Shaft.
Caledonia Mining Corporation Plc (NYSE American: CMCL) announced the issuance of 76,520 common shares to employees following the maturing of long-term incentive plan awards on January 11, 2022. The shares, issued in depositary interests, will take effect before January 14, 2022. Notable recipients include CEO Steve Curtis, receiving 24,684 shares, and CFO Mark Learmonth, receiving 28,487 shares. Post-issuance, the total number of common shares will be 12,833,126, with no shares held in treasury.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced a significant change in shareholdings on January 7, 2022. Van Eck Associates Corporation notified the company that it crossed a threshold regarding its ownership of voting rights as of January 6, 2022. The current stake held is 3.9838%, amounting to 508,200 shares, decreasing from a previous holding of 540,381 shares, which represented 4.2361%. This notification aligns with the AIM Rules for Companies regarding major holdings.
Caledonia Mining Corporation has declared a quarterly dividend of US$0.14 per share, reflecting a remarkable 104% increase from 6.875 cents since October 2019. The company's target production for 2022 is between 73,000 to 80,000 ounces of gold. CEO Steve Curtis emphasized the company's commitment to shareholder returns while investing in growth, particularly in exploring opportunities in Zimbabwe. Key dividend dates include Ex-dividend: January 13, Record: January 14, and Payment: January 28.
Caledonia Mining Corporation (NYSE AMERICAN: CMCL) announces CEO Steve Curtis will retire on June 30, 2022, succeeded by current CFO Mark Learmonth. Curtis, who has led Caledonia since November 2014, will remain as a director and consultant until the end of 2023. Under his leadership, production nearly doubled, and market capitalization increased over four-fold, significantly enhancing shareholder value. The successful commissioning of the Central Shaft project, expected to boost annual gold production to 80,000 ounces, marks a pivotal point in the company's growth trajectory.
Caledonia Mining Corporation announced the issuance of 619,783 shares, leading to gross proceeds of approximately US$7.83 million. This comes after a successful oversubscribed placing on the Victoria Falls Stock Exchange (VFEX) in Zimbabwe. Following this transaction, the total number of shares outstanding is now 12,756,606. The depositary receipts for these shares are set to be listed and traded on the VFEX today, with AIM admission planned for the following day.
Caledonia Mining Corporation (NYSE AMERICAN: CMCL) is raising approximately $7.96 million through an increased share offering due to strong demand from Zimbabwean investors for its listing on the Victoria Falls Stock Exchange (VFEX). The company plans to issue up to 630,000 new shares at $12.64 per depositary receipt, with proceeds allocated for corporate purposes in Zimbabwe. This move aims to enhance revenue structures for its Blanket Mine, where it anticipates improved dollar-denominated returns, thus positioning itself for future growth in Zimbabwe's mining sector.
Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL) announced that John McGloin, a non-executive director, has exercised options to acquire 18,000 common shares at CAD$11.50 each, totaling CAD$207,000. Following this transaction, McGloin holds about 0.15% of the company's issued share capital. The newly issued shares are set to commence trading on AIM around November 19, 2021, increasing the total shares in circulation to 12,136,823.
Caledonia Mining Corporation Plc (CMCL) reported strong financial results for Q3 2021, with gross revenues of $33.5 million, a 31.9% increase from Q3 2020. Gross profit rose 25.6% to $15.7 million, driven by higher production and lower costs per ounce. EBITDA reached $15.1 million, up 30%. The company produced 18,965 ounces of gold, a new quarterly record. Production guidance for the year has been narrowed to 65,000 to 67,000 ounces. An increased dividend of 14 cents per share was declared in October 2021, marking the seventh increase since 2019.
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