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 (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 (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a change in shareholding that crossed a threshold for notification on November 7, 2024. According to the notification, BlackRock's total position decreased to 4.97% of voting rights, consisting of 4.72% in direct shares (907,873 voting rights) and 0.25% through financial instruments (48,864 voting rights through CFDs), totaling 956,737 voting rights. This represents a slight decrease from their previous position of 5.00%.
Caledonia Mining has declared a quarterly dividend of 14 cents (US$0.14) per share. The dividend schedule includes: ex-dividend dates of November 20, 2024 (VFEX), November 21, 2024 (AIM), and November 22, 2024 (NYSE American); record date of November 22, 2024; and payment date of December 6, 2024. UK shareholders will receive payment in Sterling. The company's dividend policy, established in 2014, aims to maximize shareholder value while maintaining a prudent approach to risk management.
Caledonia Mining reported Q3 2024 results with revenues of $46.9 million and gross profit of $19.3 million, up from $14.1 million in Q3 2023. Gold production was 18,992 ounces, lower than Q3 2023's 21,772 ounces. The company's all-in sustaining cost increased to $1,501 per ounce from $1,268 in Q3 2023. Net cash from operations decreased to $4.6 million from $14.5 million. A dividend of 14 cents per share was declared. The company signed a conditional agreement to sell its solar plant for $22.35 million while maintaining power supply. Production guidance for 2024 remains at 74,000-78,000 ounces at Blanket mine.
Caledonia Mining has announced encouraging initial results from its exploration program at Motapa Gold Project in Zimbabwe, adjacent to its Bilboes Gold Project. The program included 12,724m of trenching, 4,143m of diamond drilling, and 5,433m of reverse circulation drilling, revealing widespread gold mineralization over a 9km strike length.
Notable drilling highlights include intersections of 12.00m at 6.36g/t and 13.00m at 5.17g/t from the Jupiter area. The exploration focused on testing mineralization below historic oxide open pits and new target areas, with results confirming Motapa's strategic importance in the company's growth plans alongside the planned Bilboes development.
Caledonia Mining (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a change in shareholding that crossed a threshold for notification on November 6, 2024. BlackRock's total position reached 5.00% of voting rights, consisting of 4.74% direct voting rights attached to shares (911,437 shares) and 0.26% through financial instruments. The total number of voting rights held by BlackRock in Caledonia amounts to 962,501.
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has announced it will release its Q3 2024 operating and financial results on Monday, November 11, 2024. The company will host a remote presentation for analysts and investors at 2:00 PM London time on the same day, which will include a Q&A session. A presentation detailing the quarterly results and company outlook will be available on Caledonia's website. Interested participants can register for the Zoom webinar through the provided link.
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has announced gold production from the Blanket Mine in Zimbabwe for Q3 2024. Key highlights include:
- Quarterly gold production of 18,992 ounces (down from 21,772 ounces in Q3 2023)
- Gold produced in the first nine months of 2024 was 56,815 ounces (up from 55,244 ounces in 2023)
- Caledonia reiterates its 2024 gold production guidance of 74,000 to 78,000 ounces
The company also announced changes to its dividend declaration timing, which will now align with quarterly results publication. This change does not affect the company's dividend policy. The Q3 2024 dividend, if approved, will be declared in mid-November.
Caledonia Mining Plc (NYSE American: CMCL; AIM: CMCL; VFEX: CMCL) has announced the vesting of 14,694 common shares to James Mufara, the Chief Operations Officer, as part of an award of Restricted Share Units under the Company's 2015 Omnibus Equity Incentive Compensation Plan. This vesting occurred on September 30, 2024, resulting in Mr. Mufara's interest in the company's share capital increasing to 0.076%.
The company has applied for admission of depositary interests representing these shares to trading on AIM, with trading expected to commence around October 4, 2024. Following this issue, Caledonia's total number of shares in issue will be 19,214,554 common shares of no par value each. The company has no shares in treasury.
Caledonia Mining Plc has signed a conditional sale agreement to sell its Zimbabwe subsidiary, Caledonia Mining Services (Private) (CMS), which owns and operates a 12.2MWac solar plant supplying power to Blanket Mine. The buyer, CrossBoundary Energy Holdings (CBE), will pay $22.35 million in cash for CMS. Key points:
- The sale will generate a profit on the $14.3 million construction cost
- Caledonia will retain exclusive energy off-take, ensuring about 20% of Blanket Mine's daily electricity needs continue to be met by renewable power
- CBE has been invited to tender for an expansion of the solar plant
- The sale proceeds will be reinvested in Caledonia's other projects expected to yield higher returns
- Completion of the purchase is subject to various conditions precedent, including local regulatory approvals
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced receiving a notification from BlackRock, Inc. on September 26, 2024, regarding a relevant change in shareholding as of September 25, 2024. The notification, required by AIM Rules for Companies, details BlackRock's holdings in Caledonia.
According to the TR-1 form, BlackRock's total position in Caledonia stands at 4.97%, comprising 4.56% of voting rights attached to shares and 0.40% through financial instruments. This represents a slight decrease from the previous notification of 5.00%. The total number of voting rights held by BlackRock in Caledonia is 955,428.
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