Caledonia Mining Stock Price, News & Analysis

Caledonia Mining Corporation (NYSE AMERICAN: CMCL) announces CEO Steve Curtis will retire on June 30, 2022, succeeded by current CFO Mark Learmonth. Curtis, who has led Caledonia since November 2014, will remain as a director and consultant until the end of 2023. Under his leadership, production nearly doubled, and market capitalization increased over four-fold, significantly enhancing shareholder value. The successful commissioning of the Central Shaft project, expected to boost annual gold production to 80,000 ounces, marks a pivotal point in the company's growth trajectory.

Caledonia Mining Corporation announced the issuance of 619,783 shares, leading to gross proceeds of approximately US$7.83 million. This comes after a successful oversubscribed placing on the Victoria Falls Stock Exchange (VFEX) in Zimbabwe. Following this transaction, the total number of shares outstanding is now 12,756,606. The depositary receipts for these shares are set to be listed and traded on the VFEX today, with AIM admission planned for the following day.

Caledonia Mining Corporation (NYSE AMERICAN: CMCL) is raising approximately $7.96 million through an increased share offering due to strong demand from Zimbabwean investors for its listing on the Victoria Falls Stock Exchange (VFEX). The company plans to issue up to 630,000 new shares at $12.64 per depositary receipt, with proceeds allocated for corporate purposes in Zimbabwe. This move aims to enhance revenue structures for its Blanket Mine, where it anticipates improved dollar-denominated returns, thus positioning itself for future growth in Zimbabwe's mining sector.

Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL) announced that John McGloin, a non-executive director, has exercised options to acquire 18,000 common shares at CAD$11.50 each, totaling CAD$207,000. Following this transaction, McGloin holds about 0.15% of the company's issued share capital. The newly issued shares are set to commence trading on AIM around November 19, 2021, increasing the total shares in circulation to 12,136,823.

Caledonia Mining Corporation Plc (CMCL) reported strong financial results for Q3 2021, with gross revenues of $33.5 million, a 31.9% increase from Q3 2020. Gross profit rose 25.6% to $15.7 million, driven by higher production and lower costs per ounce. EBITDA reached $15.1 million, up 30%. The company produced 18,965 ounces of gold, a new quarterly record. Production guidance for the year has been narrowed to 65,000 to 67,000 ounces. An increased dividend of 14 cents per share was declared in October 2021, marking the seventh increase since 2019.

Caledonia Mining Corporation has filed a NI 43-101 technical report for its Maligreen project in Zimbabwe, revealing an inferred mineral resource of approximately 940,000 ounces of gold. The company is in the process of finalizing the transfer of claims, with a payment of US$4 million due upon completion. This report enhances the company's asset base and outlines significant potential for future exploration and development within the region, as noted in their earlier announcement on September 23, 2021.

Caledonia Mining Corporation Plc (CMCL) announced record gold production of 18,965 ounces from the Blanket Mine for Q3 2021, marking a 25% increase over the same quarter in 2020. The company also reported a total of 48,872 ounces produced in the first nine months of 2021, up 14% year-on-year. Production guidance for 2021 has been narrowed to 65,000-67,000 ounces, with an ambitious target of 80,000 ounces for 2022. CEO Steve Curtis highlighted the benefits from the Central Shaft's commissioning, facilitating greater production capacity and supporting future growth strategies.

Caledonia Mining Corporation Plc (CMCL) announced an increased quarterly dividend of US$0.14, representing an 8% rise from the previous US$0.13 in July 2021 and a 104% increase since October 2019. This marks the seventh dividend increase in two years, reflecting confidence in production growth following the operational Central Shaft and the company's stable cost management. Targeted gold production for 2021 is set between 61,000 and 67,000 ounces, with plans for 80,000 ounces annually from 2022. Key dates for the dividend are Ex-dividend: October 14, Record: October 15, Payment: October 29, 2021.

Caledonia Mining Corporation Plc (CMCL) has announced the acquisition of the Maligreen project in Zimbabwe from Pan African Mining for US$4 million. The property holds an estimated NI 43-101 compliant inferred mineral resource of approximately 940,000 ounces of gold at a grade of 1.88g/t. With historical drilling, metallurgical tests, and geophysical surveys conducted over the last 30 years, Maligreen presents significant exploration potential. Caledonia plans to invest $1.6 million in an initial drilling program to further assess the resource and explore additional opportunities in the area.