Caledonia Mining Stock Price, News & Analysis

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced record gold production of 80,775 ounces for 2022, exceeding guidance by over 1,000 ounces and reflecting a 19.7% increase from 2021. The company produced 21,049 ounces in Q4 2022, a 13.1% rise year-over-year. For 2023, Caledonia forecasts gold production of 75,000 – 80,000 ounces from Blanket Mine and 12,500 – 17,000 ounces from the Bilboes oxides project. The total anticipated capital expenditure is $30.9 million, with strategies to manage costs amid inflationary pressures. CEO Mark Learmonth emphasized continued growth and operational stability.

Caledonia Mining Corporation Plc (CMCL) announced the issuance of 24,389 common shares on January 11, 2023, as part of its long-term incentive plan. These shares will be distributed to staff members, including 10,330 shares to CEO Mark Learmonth and 1,526 shares to CFO Chester Goodburn. Following this issuance, the total number of shares in circulation will reach 17,283,312. Additionally, depositary interests representing these shares will be available for trading on AIM starting January 17, 2023.

Caledonia Mining Corporation has completed the acquisition of Bilboes Gold Limited, acquiring a significant gold project in Zimbabwe. The total consideration includes 5,123,044 shares, roughly 28.5% of Caledonia's diluted share capital, and a 1% net smelter royalty on revenues from the Bilboes project. This project boasts proven reserves of 1.96 million ounces of gold and the potential for annual production of 168,000 ounces over a 10-year lifespan, based on a feasibility study. Ore production is expected to commence in February 2023.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has declared a quarterly dividend of 14 cents per share, payable on January 27, 2023. CEO Mark Learmonth highlighted significant advances in their strategy to become a multi-asset gold producer, including the acquisition of Bilboes Gold Limited and Motapa Mining Company UK Limited. The company is on track to meet its 2022 gold production guidance of 73,000 to 80,000 ounces. Shareholders will receive payments in Sterling if registered in the UK, with ex-dividend dates set for January 11 and 12, 2023.

Caledonia Mining Corporation Plc (CMCL) announced a change in shareholding from Van Eck Associates Corporation, which increased its stake from 3.63% to 4.128% as of December 16, 2022. This change qualifies Van Eck as a significant shareholder under AIM Rules for Companies, revealing their growing interest in the company. The notification of this change was received by Caledonia on December 19, 2022. With a total of 12,833,120 voting rights in the company, this shift may indicate increased investor confidence.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) has announced the availability of a new corporate video on its website. This video aims to enhance stakeholder engagement by providing insights into the company's activities and achievements.

Additionally, a video showcasing Caledonia's Corporate Social Responsibility initiatives and community work has also been released. Both videos can be accessed on the company's media page, further demonstrating its commitment to transparency and community involvement.

Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced that its new 12.2 MWac solar plant at Blanket Mine in Zimbabwe has started generating power. Previously reliant on ZESA, the national electricity supplier, the mine faced issues with load-shedding and unstable power that necessitated costly diesel generators. The solar plant is projected to supply approximately 27% of Blanket's power, reducing operational costs by an estimated $37 per ounce of gold produced, enhancing both energy security and environmental sustainability.

Caledonia Mining Corporation announced strong results for Q3 and the first nine months of 2022, with gross revenues of $107.9 million, up 21% year-over-year. Gross profit rose to $50.5 million, reflecting a 26.1% increase. The company achieved a record production of 21,120 ounces of gold in Q3, a significant 11.4% increase from the previous year. However, on-mine costs rose to $734 per ounce, contributing to an increase in all-in sustaining costs to $944. Positive developments include acquisitions in Zimbabwe, including the Bilboes and Motapa projects.

Caledonia Mining Corporation Plc (CMCL) has released an updated NI 43-101 compliant Mineral Resources statement for its Maligreen project in Zimbabwe. The 2022 Technical Report indicates a total of 8.03 million tonnes measured and indicated at a grade of 1.71g/t, containing approximately 442,000 ounces of gold. Inferred resources total 6.17 million tonnes at 2.12g/t, amounting to around 420,000 ounces. This update enhances geological confidence and supports future evaluation and development of the project.