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.
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Caledonia Mining Plc reports increased gold production and sales at Blanket Mine in Zimbabwe for Q1 2024. Production reached 17,050 ounces, a 6% rise from Q1 2023, with 18,450 ounces sold, a 17% increase. The company reiterates 2024 production guidance of 74,000 to 78,000 ounces. CEO Mark Learmonth highlights the strong start and growth potential of the mine.
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Caledonia Mining Plc announces James Mufara as the new Chief Operating Officer, bringing extensive experience in the mining sector. Mufara's background includes managing multiple mines and staff, mining significant gold volumes annually, and leading various mining operations in Southern Africa. His appointment signifies a crucial moment in Caledonia's development, with a focus on enhancing operational performance.
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Caledonia Mining Plc declares a quarterly dividend of 14 US cents per share, with specific dates for ex-dividend, record, and payment. The company's dividend policy aims to maximize shareholder value with a prudent risk management approach.
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Caledonia Mining Plc announces its financial results for the year ended December 31, 2023, with a gross revenue of $146.3 million and a quarterly dividend of 14 cents per share. Despite a decrease in gross profit and EBITDA compared to 2022, the company remains in line with market expectations and production guidance for 2024. Operating highlights include annual gold production at Blanket of 75,416 ounces in 2023, with a focus on future growth and multi-asset gold production strategy.
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Caledonia Mining Plc announces the availability of documents for its annual general meeting of shareholders. The AGM will be held on May 7, 2024, at Radisson Blu Waterfront Hotel in St Helier, Jersey. Various contact details for inquiries are provided.
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Caledonia Mining Plc (CMCL) received notification from BlackRock, Inc. of crossing a threshold for notification of a relevant change. BlackRock now holds 4.79% of voting rights in CMCL, with 4.00% direct and 0.78% indirect through financial instruments.
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Caledonia Mining Plc announces the appointment of Tariro Gadzikwa as an Independent Non-Executive Director and the retirement of Steve Curtis from the Board. Tariro brings significant financial expertise to the Board, having held executive roles in various companies. Steve Curtis will step down from the Board but remain a consultant to Caledonia.
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Caledonia Mining Corporation Plc provides a trading update for 2023, reporting 75,416 ounces of production at Blanket Mine. While revenue is in line with market expectations, increased operating costs and one-off expenses have led to reduced profit for the year. The company anticipates reporting an adjusted profit before tax below market expectations for 2023. The increase in costs is attributed to higher overtime payments, power costs, administrative costs, staff termination costs, financing costs, and a one-off impairment charge. Despite these challenges, the company expects cost reductions in 2024, particularly with Bilboes project costs being reduced to care and maintenance only. The company's cash position at the end of 2023 was $6.7 million. Operating and financial results for the fourth quarter of 2023 will be released by March 28, 2024.
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Caledonia Mining Corporation Plc reported better than expected grades and widths from deep level drilling at Blanket Mine, indicating increased overall resource. The company's Chief Executive Officer, Mark Learmonth, expressed confidence in the resource and stated that the results should extend the existing life of the mine. The company expects a revised mineral resource and mineral reserve statement to be published in the second quarter of 2024.
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Caledonia Mining Corporation Plc received notification from BlackRock, Inc. that it crossed a threshold for notification of a relevant change. BlackRock, Inc. now holds 4.84% of the voting rights in the company, a decrease from the previous 4.97%. This notification was received on January 22, 2024, and it is in compliance with the AIM Rules for Companies.
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FAQ
What is the current stock price of Caledonia Mining Corporation Plc (CMCL)?
The current stock price of Caledonia Mining Corporation Plc (CMCL) is $9.39 as of January 23, 2025.
What is the market cap of Caledonia Mining Corporation Plc (CMCL)?
The market cap of Caledonia Mining Corporation Plc (CMCL) is approximately 180.6M.
What is Caledonia Mining Corporation Plc's primary business?
Caledonia Mining Corp is primarily involved in gold exploration, development, and mining, with its flagship project being the Blanket Mine in Zimbabwe.
Where is Caledonia Mining Corporation Plc headquartered?
The company is headquartered at 2145 Dunwin Dr, Mississauga, Ontario, Canada.
What are the key projects of Caledonia Mining Corporation Plc?
Key projects include the Blanket Mine, Bilboes Oxide Mine, and exploration projects such as Maligreen and Motapa.
How deep is the Blanket Mine?
The Blanket Mine operates at a depth of approximately 750 meters below the surface.
What recent achievements has Caledonia Mining Corp made?
Recent achievements include increased gold production, strong financial performance, and resource expansion as detailed in their PEA.
When is the next shareholder call scheduled?
The Q1 2024 Results Call for Shareholders is scheduled for May 13, 2024, at 02:00 PM London time.
How does Caledonia Mining Corp ensure sustainable growth?
The company focuses on operational efficiency, cost control, and targeted exploration to ensure sustainable growth and profitability.
What is the significance of the Bilboes Oxide Mine for Caledonia Mining Corp?
The Bilboes Oxide Mine is a key development project with significant potential for future gold production, complementing the company's revenue from the Blanket Mine.
Who is the CEO of Caledonia Mining Corporation Plc?
Mark Learmonth is the CEO of Caledonia Mining Corporation Plc.
How can I register for the upcoming webinars hosted by Caledonia Mining Corp?
You can register for the webinars through the provided Zoom registration links on the company's announcements.
Caledonia Mining Corporation Plc