Caledonia Mining Stock Price, News & Analysis

Caledonia Mining Corporation Plc (CMCL) has announced the availability of materials for its upcoming annual general meeting (AGM), set for May 9, 2023, at the Radisson Blu Waterfront Hotel in Jersey. The documents include the AGM notice and a management information circular for proxy solicitation. Shareholders can access these resources online. This AGM is a key opportunity for shareholders to engage with the company regarding its future direction and governance. For further inquiries, contact details for management and brokers are provided.

Caledonia Mining Corporation Plc (CMCL) has announced a successful fundraising of approximately £8.7 million (US$10.6 million) through a Placing, which drew significant interest from institutional investors. The Placing is set to remain open until March 31, 2023, with 781,749 Placing Shares allocated. The funds will enhance the company's balance sheet, support working capital, and accelerate development at three gold projects in Zimbabwe. CEO Mark Learmonth expressed optimism about institutional support for the company’s growth initiatives. Following this issuance, the total number of Common Shares in circulation will be 18,065,061.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has announced a proposal to raise approximately £8.1 million (around US$10 million) through a placing of new common shares at £11.15 per share, reflecting a 13.2% discount to the previous close. The fundraise will support the ongoing development of gold projects in Zimbabwe, including the recently acquired Bilboes project, which holds significant gold reserves. The company has reported FY 2022 revenues of US$142 million and EBITDA of US$50.4 million. The gold production guidance for 2023 is set between 87,500 and 97,000 ounces. Admission of new shares is expected on AIM by March 30, 2023.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced its financial results for 2022, reporting gross revenues of $142 million, up from $121 million in 2021. The company achieved a gross profit of $61.8 million and EBITDA of $50.4 million. Gold production reached a record 80,775 ounces, with a forecast of 87,500 - 97,000 ounces for 2023. A significant acquisition of the Bilboes gold project was completed, boasting 1.96 million ounces in reserves. A solar plant at Blanket Mine is expected to cut production costs significantly. Despite these achievements, net cash decreased to $1.5 million from $16.3 million in 2021, raising concerns for investors.

Caledonia Mining Corporation announced the filing of a new NI 43-101 technical report for its Blanket Mine in Zimbabwe, confirming earlier updates on mineral resources and reserves. The report estimates total measured and indicated mineral resources of 1,095,000 ounces of gold within 10.72 million tonnes at 3.18g/t. It also notes total mineral reserves of 395,000 ounces of gold in 3.94 million tonnes at 3.12g/t. These figures support the company's ongoing operations and future mining activities.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) reported a tragic accident at its Blanket Mine in Zimbabwe on February 16, 2023, resulting in the death of one employee during secondary blasting operations. The company is currently awaiting further details pending an official inquiry by the relevant authorities. Caledonia has expressed condolences to the deceased's family and colleagues. The incident highlights critical safety concerns within mining operations, but no further information is available regarding its impact on company operations or financial performance at this time.

Caledonia Mining Corporation Plc (CMCL) has announced that its 12MWac solar project, operational since November 2022, is exceeding expectations by supplying approximately 27% of the Blanket mine's daily electricity demand. The announcement coincides with improved power supply from the Zimbabwe grid, significantly lowering diesel consumption. In January 2023, diesel usage dropped to 18,000 litres compared to 120,000 litres per month throughout 2022. CEO Mark Learmonth expresses confidence in ongoing reductions in diesel use, supporting the company's investment in solar energy and commitment to its ESG strategy.

Caledonia Mining Corporation Plc (CMCL) announced a 52% increase in Measured and Indicated Mineral Resources to 1,095,000 ounces of gold at its Blanket Mine in Zimbabwe. The Mineral Reserves estimate saw a slight increase of 1%, now totaling 395,000 ounces. This update follows the completion of the Central Shaft, enabling improved exploration and digital estimation methods. In 2022, the company met its production target of 80,000 ounces of gold, bolstered by a favorable gold price, positioning it well for future asset development.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced a notification received from significant shareholder Van Eck Associates on January 19, 2023. Following the completion of the transaction for Bilboes Gold Limited, the company issued 4,425,797 new shares, representing 25.64% of its fully diluted share capital. Consequently, Van Eck's percentage in the fully diluted share capital has decreased. The resulting situation shows Van Eck holding 3.08% of the voting rights, down from 4.12% previously reported.