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 Corporation Plc (CMCL) reported its Q1 2023 gold production results, showing a 13% decline from 2022, with Blanket Mine producing 16,036 ounces. This decrease is attributed to mechanical and logistical issues, which have been resolved, leading to improved production in early April. The company reiterated its production guidance for the year, expecting between 75,000 and 80,000 ounces from Blanket.
Bilboes project began gold production from oxide pre-stripping, yielding 105 ounces, but faced challenges including inconsistent grades and mechanical breakdowns. The company will no longer provide guidance on this low-margin production as it focuses on a feasibility study for the larger sulphide project.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has reported a change in major holdings as disclosed by Allan Gray Proprietary Limited. On April 17, 2023, Allan Gray crossed a notification threshold, leading to a formal notice sent out on April 19, 2023. The notification indicates that Allan Gray currently holds 11.2755% of the voting rights in the company, totaling 2,163,543 voting rights. This represents a decrease from a previous holding of 12.0679% as per earlier notifications. The changes reflect potential shifts in investor sentiment and voting power within Caledonia Mining, which may impact future corporate governance and decision-making.
Caledonia Mining Corporation Plc (CMCL) announced an additional issuance of 1,814 shares related to its recent Zimbabwe Placing, which raised approximately US$5.850 million before expenses. In a prior announcement on April 11, 2023, the company reported that the placing had garnered around US$5.825 million, bringing the total funds raised from the initiative to about US$16.591 million before expenses. The additional shares were issued due to administrative delays in Zimbabwe and will be admitted for trading on AIM on April 19, 2023. Following this issuance, the total number of shares in circulation will be 19,188,073, all having voting rights.
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