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 has filed a NI 43-101 technical report for its Maligreen project in Zimbabwe, revealing an inferred mineral resource of approximately 940,000 ounces of gold. The company is in the process of finalizing the transfer of claims, with a payment of US$4 million due upon completion. This report enhances the company's asset base and outlines significant potential for future exploration and development within the region, as noted in their earlier announcement on September 23, 2021.
Caledonia Mining Corporation Plc (CMCL) announced record gold production of 18,965 ounces from the Blanket Mine for Q3 2021, marking a 25% increase over the same quarter in 2020. The company also reported a total of 48,872 ounces produced in the first nine months of 2021, up 14% year-on-year. Production guidance for 2021 has been narrowed to 65,000-67,000 ounces, with an ambitious target of 80,000 ounces for 2022. CEO Steve Curtis highlighted the benefits from the Central Shaft's commissioning, facilitating greater production capacity and supporting future growth strategies.
Caledonia Mining Corporation Plc (CMCL) announced an increased quarterly dividend of US$0.14, representing an 8% rise from the previous US$0.13 in July 2021 and a 104% increase since October 2019. This marks the seventh dividend increase in two years, reflecting confidence in production growth following the operational Central Shaft and the company's stable cost management. Targeted gold production for 2021 is set between 61,000 and 67,000 ounces, with plans for 80,000 ounces annually from 2022. Key dates for the dividend are Ex-dividend: October 14, Record: October 15, Payment: October 29, 2021.
Caledonia Mining Corporation Plc (CMCL) has announced the acquisition of the Maligreen project in Zimbabwe from Pan African Mining for US$4 million. The property holds an estimated NI 43-101 compliant inferred mineral resource of approximately 940,000 ounces of gold at a grade of 1.88g/t. With historical drilling, metallurgical tests, and geophysical surveys conducted over the last 30 years, Maligreen presents significant exploration potential. Caledonia plans to invest $1.6 million in an initial drilling program to further assess the resource and explore additional opportunities in the area.
Caledonia Mining Corporation Plc (CMCL) announced that the Van Eck Vectors Junior Gold Miners ETF has become a significant shareholder, holding 3.91% of voting rights as of March 19, 2021. The notification from Van Eck Associates Corporation, received on September 3, 2021, details the holdings through its two funds. This change in shareholding indicates a growing interest from a notable investment entity.
Caledonia Mining Corporation Plc (CMCL) has announced that VanEck Vectors Junior Gold Miners ETF holds 473,246 shares, representing 3.90% of Caledonia's issued share capital, making it a significant shareholder per AIM rules. The Company is confirming this shareholding with VanEck and will update stakeholders as necessary. Caledonia is part of the MVIS Global Junior Gold Miners Index, which underpins various North American gold investment funds, notably the VanEck Vectors Junior Gold Miners ETF.
Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL) announced that non-executive director Johan Holtzhausen purchased 1,200 depositary interests, equivalent to 1,200 common shares, at an average price of GBP8.89 each. Following this acquisition, Holtzhausen now holds a total of 21,025 shares, representing approximately 0.17% of the company's total issued share capital. The transaction occurred on August 12, 2021, and was conducted on the AIM market.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) reported strong financial and operational results for Q2 2021, with gross revenues of $30.0 million, up 31% from Q2 2020. Gross profit reached $13.9 million, a 51% year-over-year increase. EBITDA soared to $14.0 million, up 103%. The company produced a record 16,710 ounces of gold in Q2, reflecting improved efficiency due to the Central Shaft. Caledonia remains on track to meet its production target of 61,000-67,000 ounces for 2021, with ongoing cost management and a commitment to safety amidst COVID-19 precautions.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) announced that it will host a conference webinar on August 12, 2021, to discuss its operating and financial results for Q2 and the first six months of 2021. The webinar will take place at 16:30 GMT, with a presentation video available on Caledonia's website. Participants can join via Zoom or by phone, using the provided access details. This event aims to provide insights into the company's performance and future outlook.
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