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 signed an agreement with the Government of Zimbabwe to evaluate government-controlled gold sector properties for potential development. The company sees Zimbabwe as a promising region for gold discovery and plans to assess investment opportunities, expecting increased production from its Blanket Mine to rise from 55,000 ounces to 80,000 ounces annually starting in 2022. With a $60 million investment in a new shaft nearing completion, Caledonia anticipates enhanced financial capability for further investments in Zimbabwe's gold sector.
Caledonia Mining Corporation Plc (CMCL) announced its Q3 2020 gold production results, reporting approximately 15,164 ounces of gold produced, marking an 11.1% increase compared to Q3 2019. The company raised its 2020 production guidance to between 55,000 and 58,000 ounces, supported by a total of 42,896 ounces produced in the first nine months, up 12% year-on-year. Caledonia aims to achieve a target of 80,000 ounces by 2022, despite challenges posed by the coronavirus pandemic. CEO Steve Curtis highlighted the strong results and increased dividend as indicators of business strength.
Caledonia Mining Corporation Plc (CMCL) announced on October 2, 2020, a notification from BlackRock, Inc. indicating a slight decrease in its stake in the company. BlackRock’s ownership dropped from 5.07% to 4.99%, with total voting rights now at 5.38% when including financial instruments. The notification followed a threshold crossing on September 29, 2020. This change signifies cautious movement by a significant shareholder, which may impact investor sentiment regarding CMCL’s stock performance.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) announced an increased quarterly dividend of US$0.10 per share, marking an 18% increase from the previous 8.5 cents. This represents a 45% cumulative increase since October 2019. The Board's decision reflects confidence in business resilience, aided by stable production and favorable gold prices. The ex-dividend date is October 15, 2020, with dividends to be paid on October 30, 2020. The Company also anticipates reduced capital expenditure in 2021, allowing for potential future dividend increases.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) reported that BlackRock, Inc., a significant shareholder, increased its stake in the company. On September 25, 2020, BlackRock crossed a notification threshold, raising its voting rights from 4.97% to 5.07%. The total voting rights held by BlackRock now include 615,610 shares, representing 5.07%, alongside additional financial instruments. The increase reflects a strategic commitment to Caledonia as it progresses in the mining sector.
Caledonia Mining Corporation Plc (NYSE American: CMCL) announced that its Chairman, Leigh Wilson, sold 12,000 shares at USD 17.32 each on September 22, 2020. Post-transaction, Wilson retains 40,000 shares, equating to approximately 0.033% of the total shares. This transaction is part of the regulatory requirements for managerial disclosures. The company continues to uphold transparency in its operations.
Caledonia Mining Corporation Plc (CMCL) announced that director John Kelly sold 13,163 common shares, reducing his total holdings to 16,330 shares, approximately 0.013% of the company's share capital. The transactions occurred on September 16 and 18, 2020, at prices of USD 19.62 and USD 19.40, respectively. This initial notification details the nature and volume of the share sale, which could raise questions about insider trading and investor confidence regarding the company's future performance.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced it raised US$13 million through the sale of 597,963 shares under its At the Market Sales Agreement. This brings the total shares issued to 12,118,823. Following this capital raise, the company has cancelled the remaining block admission for 202,037 shares. The proceeds will fund a solar power plant to supply electricity to Blanket Mine in Zimbabwe. The company completed the share issuance before the deadline of September 7, 2020.
Caledonia Mining Corporation Plc (CMCL) announced that BlackRock, Inc., a significant shareholder, reduced its stake from 5.22% to 4.97% as of September 1, 2020. BlackRock also holds an additional 0.65% through financial instruments, totaling a 5.62% interest. The notification was received on September 2, 2020, following the crossing of a threshold for major holdings reporting. These changes in ownership may reflect strategic shifts or market responses but indicate a slight decrease in confidence from a major institutional investor.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced on September 1, 2020, that BlackRock, Inc. increased its stake in the company. BlackRock crossed a notification threshold on August 27, 2020, now holding 5.58% of the voting rights, up from 5.04%. This increase includes 601,565 direct voting rights and financial instruments contributing an additional 11,200 via securities lending and 31,148 through contracts for difference (CFDs). Caledonia welcomes this enhanced investment as a significant endorsement of its operations.
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