Caledonia Mining Stock Price, News & Analysis

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.

Caledonia Mining Corporation Plc (CMCL) announced the grant of new long-term incentive plan awards under its 2015 Omnibus Equity Incentive Compensation Plan. The awards were made to Persons Discharging Managerial Responsibility (PDMRs) including CEO Mark Learmonth, who received an award of US$ 465,750. The awards, in the form of Performance Units (PUs), will vest in April 2026 and are linked to the company's performance metrics. The Fair Market Value of the shares used for calculating the number of PUs is set at US$16.91. A total of 113 employees are participating in the Plan, which includes senior management across multiple regions. Each PU allows PDMRs to receive one common share upon vesting, subject to a minimum holding period of one year.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has announced the successful closure of its Zimbabwe Placing, raising approximately US$5.825 million before expenses, with strong backing from investors. This follows a total fundraise of US$16.566 million, strengthening the Company's balance sheet and providing working capital for new gold projects in Zimbabwe. Additionally, the Company has issued 256,152 deferred shares related to its acquisition of Bilboes Gold Limited, retaining 5% of the total consideration shares for adjustments. Following these actions, Caledonia will have 19,186,259 common shares in issue, enhancing its operational flexibility and growth potential.

Caledonia Mining Corporation Plc (CMCL) announced a notification from Allan Gray Proprietary Limited regarding a change in its interest. As of March 28, 2023, Allan Gray crossed a specific threshold for notification. Following this, on March 30, 2023, the company received formal notification of these changes. The current holdings of Allan Gray include 2,180,070 voting rights, representing 12.0679% of total voting rights. Comparatively, their previous position was 16.129%. This reduction in percentage indicates a decrease in voting power, which could impact shareholder dynamics within Caledonia Mining.