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 Plc (NYSE AMERICAN: CMCL; AIM: CMCL) announced a 1% increase in Proven and Probable Mineral Reserves to 528,000 ounces and a 12% increase in Measured and Indicated Mineral Resources (M&I) to 902,000 ounces at its Blanket Mine in Zimbabwe. This growth follows a depletion of 84,925 ounces. The upgrade supports a target production of 80,000 ounces per annum from 2022. The report reflects completion of the Central Shaft and improved data analysis despite delays caused by Covid-19. The effective date is January 1, 2020, and is independently validated.
Caledonia Mining Corporation Plc (CMCL) reported Q1 2021 results with gross revenues rising to $25.7 million from $23.6 million in Q1 2020, despite lower production. On-mine costs increased to $836 per ounce due to lower grade and recoveries, while adjusted earnings per share decreased to 51.6 cents. The company produced 13,197 ounces of gold, down from 14,233 ounces in Q1 2020. They increased their quarterly dividend to 12 cents per share, a 75% cumulative increase since October 2019. Post-quarter production improved significantly, with 5,470 ounces produced in April.
Caledonia Mining Corporation Plc (CMCL) held its annual general meeting (AGM) on May 11, 2021, in St Helier, Jersey. A total of 81 shareholders attended, representing 43.97% of outstanding voting shares. All resolutions, including the reappointment of eight directors, were passed successfully. The company also reappointed BDO South Africa Inc as its auditor and confirmed three members for the Audit Committee. Proxy voting results showed an overwhelming majority in favor of the nominees.
Caledonia Mining Corporation Plc (CMCL) reported a gold production of 13,197 ounces from its Blanket Mine in Zimbabwe for Q1 2021. Although production was below target and less than the same quarter in 2020, the company maintains its full-year guidance of 61,000 to 67,000 ounces. Challenges included heavy rainfall causing operational disruptions; however, these issues have been resolved, and production is expected to increase. The company aims for a target of 80,000 ounces in 2022.
Caledonia Mining Corporation Plc (NYSE AMERICAN: CMCL; AIM: CMCL) has announced that its Central Shaft, the deepest in Zimbabwe, is now fully operational. The completion of this $67 million project, funded through internal cash flow, allows daily hoisting of materials, solving previous constraints and supporting an expansion goal of 80,000 ounces of gold production annually. The project took six years and was completed with only two lost time injuries, highlighting the safety of the operation.
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.