Welcome to our dedicated page for Caledonia Mining news (Ticker: CMCL), a resource for investors and traders seeking the latest updates and insights on Caledonia Mining stock.
Caledonia Mining Corporation Plc operates as a gold mining, exploration and development company with shares quoted on NYSE American, AIM and VFEX under CMCL. Company news centers on gold production and operating updates from the Blanket Mine, financial results shaped by realized gold prices, production volumes and mine costs, and sales that include output from the Bilboes oxide operation.
Recurring announcements also cover progress toward developing the Bilboes project, updates on exploration and growth projects, dividend communications, annual meeting results, board succession matters, auditor reappointments and significant-shareholder notifications under AIM disclosure rules.
Caledonia Mining Corporation has declared a quarterly dividend of 12 cents per share, a 9% increase from the previous dividend of 11 cents. This represents a 75% cumulative increase since October 2019 and marks the fifth increase in 18 months. The company aims to produce between 61,000 to 67,000 ounces of gold in 2021, with targets of 80,000 ounces annually by 2022. The ex-dividend date is April 15, 2021, the record date is April 16, 2021, and payment is set for April 30, 2021.
Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL) has released documents for its upcoming annual general meeting (AGM) of shareholders, set for May 11, 2021, at 9:00 a.m. (UK time) in St Helier, Jersey. Given COVID-19 travel restrictions, shareholders are encouraged to vote online or by proxy as outlined in the proxy form. The documents include a notice of the AGM and management information circular, which can be accessed on their official website.
Caledonia Mining Corporation Plc (CMCL) reported significant financial improvements for the year ending December 31, 2020. Gross revenues increased to $100 million from $75.8 million in 2019, with a gross profit of $46.6 million and an EBITDA of $43.3 million. Gold production reached a record 57,899 ounces. The company achieved a 21.8% increase in dividends paid, totaling 33.5 cents per share. Looking ahead, 2021 production is projected between 61,000 and 67,000 ounces, with Central Shaft commissioning expected soon.
Caledonia Mining Corporation Plc (CMCL) is set to be included in the MVIS Global Junior Gold Miners Index for the first time during the first quarter 2021 review. This inclusion, effective March 19, 2021, comes as the company anticipates an increase in its liquidity and visibility among retail and institutional investors following its NYSE American listing. CEO Steve Curtis expressed that this milestone coincides with the commissioning of the Central Shaft, enhancing the company’s prospects in the gold mining sector.
Caledonia Mining Corporation (NYSE AMERICAN: CMCL) has appointed Mrs. Geralda Wildschutt as an independent Non-Executive Director. With 25 years of experience in social development and stakeholder management in mining, her role emphasizes the company’s commitment to sustainability and responsible business practices. Wildschutt's past consulting roles include major firms like Anglo American and Gold Fields, focusing on ESG compliance and community relations. Chairman Leigh Wilson expressed confidence that her expertise will enhance the company's social responsibility vision.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) announced on October 14, 2020, that BlackRock, a significant shareholder, has reduced its interest in the company. The notification indicates that BlackRock crossed a threshold for reporting its holdings on October 13, 2020. This adjustment in holdings has been formally communicated to the relevant authorities, following AIM Rules for Companies, which necessitate transparency regarding substantial changes in share ownership.
Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL) reported on October 15, 2020, a decline in the shareholding of Sales Promotion Services S.A. from 848,773 shares (7.89%) to 663,773 shares (5.48%), as of October 13, 2020. This change reflects a significant shareholder's reduced interest, according to AIM Rules. The beneficial owner of Sales Promotion Services S.A. is Heinrich Auwärter, as previously disclosed on November 13, 2017. No further details on this reduction have been provided by the company.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL) announced on Oct. 9, 2020, that BlackRock, a significant shareholder, increased its stake in the company. The notification from BlackRock indicated that as of Oct. 7, 2020, it crossed a threshold to hold 5.40% of voting rights, up from 5.38%. The increase consists of 606,350 voting rights attached to shares and additional rights through financial instruments. BlackRock’s ongoing investment may reflect confidence in Caledonia's future performance.
Caledonia Mining Corporation Plc (CMCL) has appointed Voltalia to construct a solar power plant for the Blanket Mine in Zimbabwe. This project, expected to provide around 27% of the mine's electricity, aims to mitigate reliance on costly diesel generators amidst deteriorating grid power quality. The company raised funds through an at-the-market sales process, issuing 597,963 shares, fewer than the 800,000 initially planned. While the project is defensive, it may offer modest returns to shareholders despite potential dilution.
Caledonia Mining Corporation has signed an agreement with the Government of Zimbabwe to evaluate government-controlled gold sector properties for potential development. The company sees Zimbabwe as a promising region for gold discovery and plans to assess investment opportunities, expecting increased production from its Blanket Mine to rise from 55,000 ounces to 80,000 ounces annually starting in 2022. With a $60 million investment in a new shaft nearing completion, Caledonia anticipates enhanced financial capability for further investments in Zimbabwe's gold sector.