Caledonia Mining Corporation Plc - Notification of Relevant Change to Significant Shareholder

Rhea-AI Summary

Caledonia Mining Corporation Plc (AIM:CMCL) received notice that BlackRock, Inc. crossed a relevant shareholding threshold on 26 March 2026. According to the company, BlackRock's resulting position is 6.55% total of voting rights (5.18% direct shares; 1.37% via financial instruments), representing 1,265,920 voting rights.

The notification details securities lending of 123,551 voting rights and CFDs totaling 141,358 voting rights; the issuer was notified on 27 March 2026.

Positive

• Institutional stake of 6.55% reported on 26 March 2026
• Direct holdings equal 1,001,011 voting rights (5.18%)

Negative

• 1.37% of BlackRock position held via financial instruments (securities lending and CFDs)
• Securities lending: 123,551 voting rights; CFDs: 141,358 voting rights

Market Reaction – CMCL

+6.62% $23.50

15m delay 1 alert

+6.62% Since News

$23.50 Last Price

$21.60 $23.50 Day Range

+$26M Valuation Impact

$425.48M Market Cap

0.0x Rel. Volume

Following this news, CMCL has gained 6.62%, reflecting a notable positive market reaction. The stock is currently trading at $23.50. This price movement has added approximately $26M to the company's valuation.

Data tracked by StockTitan Argus (15 min delayed). Upgrade to Silver for real-time data.

Key Figures

Voting rights via shares: 5.18% Voting rights via instruments: 1.37% Total voting interest: 6.55% +5 more

8 metrics

Voting rights via shares 5.18% BlackRock % of voting rights attached to shares on 26/03/2026

Voting rights via instruments 1.37% BlackRock % of voting rights through financial instruments

Total voting interest 6.55% BlackRock total % of voting rights in Caledonia

Total voting rights held 1,265,920 BlackRock total voting rights in issuer (shares + instruments)

Direct shareholding 1,001,011 Number of voting rights attached to shares (direct/indirect) JE00BF0XVB15

Securities lending rights 123,551 Voting rights that may be acquired via securities lending (0.63%)

CFD voting rights 141,358 Voting rights via CFDs (0.73%) with cash settlement

Previous total holding 6.56% BlackRock total voting rights in previous notification

Market Reality Check

Price: $22.00 Vol: Volume 185,137 vs 20-day ...

low vol

$22.00 Last Close

Volume Volume 185,137 vs 20-day average 266,652 (relative volume 0.69x). low

Technical Price 22.33 trades below 200-day MA of 27.09, after a 3.25% 24h gain.

Peers on Argus

CMCL gained 3.25% pre‑news while several gold peers were also up: GAU +3.17%, GR...

3 Up

CMCL gained 3.25% pre‑news while several gold peers were also up: GAU +3.17%, GROY +4.08%, ODV +2.45%, DC +2.24%, IAUX +6.72%. Momentum scanner flagged CNL +4.78%, IDR +4.88% and ODV +5.97%, but sector move was classified as stock‑specific.

Historical Context

5 past events · Latest: Mar 23 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Mar 23	Prelim FY2025 results	Positive	+3.9%	Record 2025 revenue, EBITDA, profit and free cash flow with higher production.
Mar 18	BlackRock holding change	Neutral	-5.1%	TR‑1 showing BlackRock at 6.57% total voting rights as of 16 March.
Mar 11	Results notice	Neutral	+0.5%	Announcement of timetable and webcast for Q4 and FY 2025 results.
Mar 10	BlackRock holding change	Neutral	-0.8%	TR‑1 showing BlackRock at 6.03% voting rights as of 6 March.
Feb 23	Bilboes funding facility	Positive	+1.9%	Appointment of co‑lead arrangers for up to US$150M interim facility.

Pattern Detected

Recent news has focused on results, funding for Bilboes and repeated BlackRock holding notifications, with price reactions generally modest and mostly positive.

Recent Company History

Over the last few months, Caledonia reported strong preliminary FY 2025 results on Mar 23 with sharply higher revenue, EBITDA and profit, which was followed by a +3.87% move. Multiple TR‑1 notices since early March detailed changes in BlackRock’s voting interest, with mixed but relatively contained price reactions (from about -5.11% to small moves). An interim funding facility of up to US$150M for the Bilboes project on Feb 23 also saw a positive reaction, framing today’s further update on BlackRock’s position within an ongoing flow of shareholder and financing disclosures.

Market Pulse Summary

The stock is up +6.6% following this news. A strong positive reaction aligns with prior instances wh...

Analysis

The stock is up +6.6% following this news. A strong positive reaction aligns with prior instances where operational or financing updates were met with gains, such as the +3.87% move after record FY 2025 results and the +1.85% move on the Bilboes funding facility. However, earlier BlackRock holding notifications sometimes preceded weaker trading, including a -5.11% move on a March filing, suggesting that shareholder‑change headlines alone have not guaranteed sustained strength.

Key Terms

voting rights, financial instruments, securities lending, cfd, +4 more

8 terms

voting rights regulatory

"Total number of voting rights held in issuer (8.A + 8.B) vii"

Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.

financial instruments financial

"An acquisition or disposal of financial instruments"

Financial instruments are assets or contracts that hold monetary value and can be bought, sold, or traded. They serve as tools for investors to grow, protect, or transfer money, much like how a ticket or voucher can be used to access goods or services. These instruments help individuals and organizations manage financial goals and risks across different markets and economic conditions.

securities lending financial

"Type of financial instrument | Expiration date x | ... | Securities Lending | N/A"

Securities lending is when an owner of stocks or bonds temporarily loans them to another party, usually so the borrower can sell them short or meet settlement needs; the lender receives a fee and typically some form of security in return. Investors should care because lending can generate extra income on holdings and affects market liquidity and short-selling activity, much like renting out a spare room brings income while someone else uses the space.

cfd financial

"Type of financial instrument ... CFD | N/A | N/A | Cash | 141,358 | 0.73%"

A CFD (contract for difference) is a financial agreement that lets an investor profit from the change in an asset’s price without actually owning that asset — like betting on a car’s value rising or falling without buying the car. It matters because CFDs use leverage, which can amplify gains and losses and allow easy access to different markets, so they change an investor’s potential return and risk profile and can lead to rapid losses if prices move unfavorably.

cash settlement financial

"CFD | N/A | N/A | Cash | 141,358 | 0.73%"

Cash settlement is a process where, instead of exchanging physical assets like stocks or commodities, the parties involved settle the difference in value with money after a contract ends. For investors, it simplifies transactions by avoiding the need to handle or deliver the actual asset, making it quicker and more convenient to complete trades. This method ensures a straightforward way to settle agreements based on their final value.

major holdings regulatory

"TR-1: Standard form for notification of major holdings"

Major holdings are the largest assets—such as specific stocks, bonds, cash positions, or other investments—that make up a significant share of a fund’s or investor’s portfolio. They matter because these big positions largely determine performance and risk; like the star players on a team, they can swing returns and reveal whether an investment is heavily concentrated in a particular company, industry, or strategy.

proxy voting regulatory

"10. In case of proxy voting, please identify:"

Proxy voting is a process that allows investors to have their voting power on company decisions exercised by someone else if they cannot attend meetings in person. It ensures that their opinions are still represented, similar to authorizing someone else to vote on their behalf at an election. This helps investors influence company actions even when they cannot be physically present.

non-uk issuer regulatory

"Please indicate if the issuer is a non-UK issuer"

A non-UK issuer is a company or other entity that issues securities but is based, incorporated, or primarily regulated outside the United Kingdom. For investors, this matters because such issuers often follow different reporting rules, legal protections and market practices than UK-based issuers, so buying their securities can be like shopping in a different country: you may face different information, oversight, tax treatment and claim rights if things go wrong.

AI-generated analysis. Not financial advice.

(NYSE AMERICAN:CMCL)(AIM:CMCL)(VFEX:CMCL)

SAINT HELIER, JE / ACCESS Newswire / March 30, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on March 27, 2026 from BlackRock, Inc. that on March 26, 2026 it had crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies).

A copy of the notification is below.

Enquiries:

Caledonia Mining Corporation Plc Mark Learmonth Camilla Horsfall	Tel: +44 1534 679 800 Tel: +44 7817 841 793
Cavendish Capital Markets Limited (Nomad and Broker) Adrian Hadden George Lawson	Tel: +44 207 397 1965 Tel: +44 131 220 9775
Camarco, Financial PR (UK) Gordon Poole Elfie Kent	Tel: +44 20 3757 4980
Curate Public Relations (Zimbabwe) Debra Tatenda	Tel: +263 77802131
IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe) Lloyd Mlotshwa	Tel: +263 (242) 745 119/33/39

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) i
1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ii:			CALEDONIA MINING CORPORATION PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)
Non-UK issuer						X
2. Reason for the notification (please mark the appropriate box or boxes with an "X")
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) iii:
3. Details of person subject to the notification obligation iv
Name			BlackRock, Inc.
City and country of registered office (if applicable)			Wilmington, DE, USA
4. Full name of shareholder(s) (if different from 3.) v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached vi:			26/03/2026
6. Date on which issuer notified (DD/MM/YYYY):			27/03/2026
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) vii
Resulting situation on the date on which threshold was crossed or reached	5.18%	1.37%		6.55%	1,265,920
Position of previous notification (if applicable)	4.93%	1.63%		6.56%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
JE00BF0XVB15				1,001,011					5.18%
SUBTOTAL 8. A		1,001,011					5.18%
B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date x	Exercise/ Conversion Period xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
Securities Lending		N/A	N/A			123,551			0.63%
			SUBTOTAL 8. B 1			123,551			0.63%
B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date x		Exercise/ Conversion Period xi		Physical or cash Settlement xii			Number of voting rights	% of voting rights
CFD	N/A		N/A		Cash			141,358	0.73%
					SUBTOTAL 8.B.2			141,358	0.73%

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) xiv				X
Name xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.
BlackRock HK Holdco Limited
BlackRock Lux Finco S.a.r.l.
BlackRock Japan Holdings GK
BlackRock Japan Co., Ltd.
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
Trident Merger, LLC
BlackRock Investment Management, LLC
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Investment Management (UK) Limited
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Institutional Trust Company, National Association
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Fund Advisors
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BlackRock Canada Holdings ULC
BlackRock Asset Management Canada Limited
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Capital Holdings, Inc.
BlackRock Advisors, LLC
BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
Trident Merger, LLC
BlackRock Investment Management, LLC
Amethyst Intermediate, LLC
Aperio Holdings, LLC
Aperio Group, LLC
10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held
11. Additional information xvi
BlackRock Regulatory Threshold Reporting Team Jana Blumenstein 020 7743 3650

Place of completion	12 Throgmorton Avenue, London, EC2N 2DL, U.K.
Date of completion	27 March 2026

SOURCE: Caledonia Mining Corporation Plc

View the original press release on ACCESS Newswire

FAQ

What stake did BlackRock report in Caledonia Mining (AIM:CMCL) on 26 March 2026?

BlackRock reported a 6.55% total holding on 26 March 2026. According to the company, this comprises 5.18% direct shares (1,001,011 voting rights) and 1.37% via financial instruments (123,551 securities lending; 141,358 CFDs).

When did Caledonia Mining (AIM:CMCL) receive notification of BlackRock's relevant change?

The company was notified on 27 March 2026 of a threshold crossing dated 26 March 2026. According to the company, the TR-1 filing completed at its London address is dated 27 March 2026.

How many voting rights does BlackRock hold in Caledonia Mining (AIM:CMCL)?

BlackRock holds 1,265,920 voting rights in total. According to the company, that total equals 5.18% from direct shares (1,001,011) plus 1.37% from financial instruments (123,551 securities lending; 141,358 CFDs).

What types of financial instruments does BlackRock use in its Caledonia (AIM:CMCL) position?

BlackRock's position includes securities lending and CFDs as financial instruments. According to the company, securities lending accounts for 123,551 voting rights (0.63%) and CFDs for 141,358 voting rights (0.73%).

Did BlackRock's total reported position in Caledonia (AIM:CMCL) increase compared to the previous notification?

The total position is effectively unchanged at 6.55% versus a prior 6.56% figure. According to the company, direct voting rights rose to 5.18% from 4.93%, while financial-instrument percentage moved to 1.37%.