Caledonia Mining Stock Price, News & Analysis

Caledonia Mining announced that a consultant has exercised share options for 5,000 common shares at an exercise price of $7.35 each.

These shares will be admitted to trading on AIM starting July 10, 2024. This exercise increases the total number of issued shares to 19,199,860, with no shares held in treasury.

This update assists shareholders in determining their notification obligations regarding interest changes in the company.

Caledonia Mining announces a quarterly dividend of 14 cents per share, payable on July 26, 2024. The ex-dividend dates are July 10 for VFEX, July 11 for AIM, and July 12 for NYSE American, with a record date of July 12, 2024. Shareholders in the UK will receive payments in Sterling. The company has maintained a quarterly dividend policy since 2014, aiming to maximize shareholder value while balancing investment opportunities and risk management.

Caledonia Mining (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced the cancellation of its block admission related to the 'At the Market' (ATM) sales agreement with Cantor Fitzgerald & Co. This agreement, announced on May 18, 2023, allowed the company to issue shares but expired on May 18, 2024. No shares were issued under this agreement, leaving 2,000,000 depositary interests unallotted. The cancellation became effective on June 12, 2024. The announcement aligns with the expiration of the company's Form F-3 Registration Statement under the Securities Act of 1933.

Caledonia Mining (NYSE: CMCL) plans to file a preliminary economic assessment (PEA) for a single-phase development of the Bilboes sulphide gold project. The PEA, prepared by DRA Projects, outlines a strategy for a modular Tailings Storage Facility (TSF) to reduce initial capital expenditure. The project is expected to yield around 1.5 million ounces of gold over a 10-year mine life at an all-in sustaining cost of $968 per ounce, with a payback period of 1.9 years at a gold price of $1,884 per ounce. The overall capital cost is projected at $403 million, with an NPV of $309 million at a 10% discount rate and an IRR of 34%. Further work to enhance the confidence level of the study to a feasibility level is expected to be completed by the first half of 2025.

Caledonia Mining announced that BlackRock, Inc. has crossed a notification threshold concerning its shareholding in Caledonia as of May 21, 2024. The notification was received on May 22, 2024. BlackRock, Inc.'s updated position shows a decrease in voting rights from 4.76% to 4.67%, comprising 3.97% from shares and 0.70% from financial instruments. This change is significant per AIM Rules for Companies.

Caledonia Mining Plc has provided an update on its 'At the Market' (ATM) sales agreement with Cantor Fitzgerald & Co., covering the period from November 17, 2023, to May 17, 2024.

During this period, no securities were issued or allotted under the scheme. The company has a balance of 2,000,000 depositary interests representing the same number of common shares that have not yet been issued or allotted. The ATM Sales Agreement originally admitted 2,000,000 depositary interests on May 19, 2023.

This update is in compliance with Schedule Six of the AIM Rules for Companies.

Caledonia Mining announced a significant increase in mineral reserves and resources at its Blanket Mine in Zimbabwe. The updates include a 111% increase in mineral reserves and a 36% increase in mineral resources under the SEC's 1300 S-K guidelines. Additionally, Blanket’s life of mine has been extended to 2034, potentially reaching past 2040.

The company also released its Annual Report and filed an NI 43-101 technical report, reflecting a 106% increase in mineral reserves and a 63% increase in measured and indicated resources. These updates underscore the improved grades and widths from the 2023 drilling campaign.

Furthermore, new mineral reserve and resource estimates for the Bilboes Gold Project were published, aligning closely with existing NI 43-101 estimates. Shareholders are invited to a webinar on May 17, 2024, to discuss these updates.

Caledonia Mining Plc announced its financial and operating results for the quarter ended March 31, 2024. The company reported a gross profit of $13.8 million, an increase from Q1 2023. EBITDA for the period was $9.9 million, with Blanket Mine contributing $17.5 million. AISC decreased by 8.2% to $1,296 per ounce. Adjusted EPS was 26.9 cents, and net cash from operating activities improved to $4.9 million. Operating highlights include 17,476 ounces of gold produced, with positive results from the drilling program at Blanket. Production guidance for 2024 is optimistic. CEO Mark Learmonth expressed confidence in the results and outlined plans for future projects.

Caledonia Mining Plc is set to announce its Q1 2024 results on May 13, 2024, with a remote presentation for analysts and investors. The presentation will be followed by a Q&A session and will include an outlook for the company. Interested parties can register for the webinar to access the presentation.