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 (CMCL) is a gold production, exploration and development company focused on Zimbabwe, with its primary asset being the Blanket Gold Mine, an underground gold mine in the Matabeleland South province in which the company holds a 64% interest. The CMCL news feed highlights how operational performance at Blanket and the advancement of Caledonia’s wider Zimbabwean project portfolio translate into material updates for investors and observers of the gold ore mining sector.
News items for Caledonia commonly include production and guidance announcements for the Blanket Gold Mine, where the company reports quarterly and full-year gold production on a 100% basis and provides forward guidance on production, costs and capital expenditure for the group. These updates often discuss factors such as ore grades, milling throughput, operating conditions and planned investment in underground development, engineering, processing, safety and risk management.
Caledonia’s news flow also covers developments at its other Zimbabwean gold projects, including the Bilboes Project, Maligreen Project and Motapa Project. The company publishes information on technical report summaries, exploration activities and planned capital allocation, as well as commentary on how changes in Zimbabwe’s royalty and tax regimes may affect the economics of these assets. Regulatory and fiscal updates from the Zimbabwean government, and Caledonia’s assessment of their implications, are a recurring theme.
In addition, CMCL news includes capital markets and financing announcements, such as the company’s "At the Market" sales agreement for depositary interests and the proposed and priced offerings of convertible senior notes due 2033, along with related capped call transactions. Disclosures regarding significant shareholder notifications, director or executive share dealings and changes in executive management also appear in the company’s news. Investors following CMCL can use this page to review a chronological record of these operational, financial and regulatory developments.
Caledonia Mining (NYSE: CMCL) has completed the sale of its Zimbabwean subsidiary, Caledonia Mining Services, to CrossBoundary Energy Holdings for $22.35 million in cash. The subsidiary owns a 12.2MWac solar plant that powers Blanket Mine.
The transaction, finalized on April 11, 2025, follows a bidding process managed by IH Advisory. The solar plant, commissioned in February 2023, has generated over 57,722MWh of power and will continue supplying approximately 20% of Blanket Mine's daily electricity needs through an exclusive power purchase agreement.
The solar plant's construction was initially funded through a $13 million share offering in 2020. Following the sale, Caledonia's pro forma consolidated net cash balance improved to $18.6 million from a net debt of $3.8 million, realizing a profit over the $14.3 million construction cost.
Caledonia Mining (NYSE AMERICAN, AIM, VFEX: CMCL) announces the issuance of 80,230 common shares on April 4, 2025, following the vesting of awards under their 2015 Omnibus Equity Incentive Compensation Plan. CEO John Mark Learmonth will receive 29,817 shares, increasing his holding to 216,848 shares (1.12%).
The company has also approved new long-term incentive plan awards to key executives, with CEO John Mark Learmonth receiving US$491,715.90, COO James Mufara US$233,700.02, CFO Ross Jerrard US$301,630.14 (including RSUs), and Executive Director Victor Gapare US$205,427.81. The awards are primarily in Performance Units (PUs) vesting in April 2028, with performance metrics tied to gold production, mineral resources, and cost reduction at Blanket Mine and Motapa.
Caledonia Mining has announced its financial and operating results for 2024, reporting a record gross profit of $77.0 million, up 86% from 2023. The company achieved gold production of 76,656 ounces at Blanket Mine and 1,645 ounces at Bilboes oxide mine.
Key financial highlights include:
- Gross revenue of $183.0 million (up from $146.3M in 2023)
- Net attributable profit of $17.9 million (vs loss of $7.9M in 2023)
- Operating cash flow of $42.0 million (up from $14.8M)
- Average realized gold price of $2,347 per ounce
The company announced a restatement of previous financial statements due to an error in deferred tax liability calculations at Blanket Mine. The Bilboes Feasibility Study timeline has been extended to explore optimization opportunities, including potential concentrate sales and tailings facility relocation. Capital investment for 2025 is budgeted at $41.0 million, with $34.1 million allocated to Blanket and $6.3 million for Bilboes and Motapa projects.
Caledonia Mining (NYSE AMERICAN: CMCL) has announced a change to its April dividend payment date. Due to a public holiday, the payment will now be made on April 17, 2025, instead of April 18, 2025.
The ex-dividend dates remain unchanged:
- VFEX: April 2, 2025
- AIM: April 3, 2025
- NYSE American: April 4, 2025
The company maintains its quarterly dividend policy, established in 2014, as part of its strategy to maximize shareholder value. Future dividends will be evaluated based on investment opportunities and risk management approach.
Caledonia Mining (NYSE AMERICAN: CMCL) announces an extension to the completion timeline of the Bilboes Feasibility Study (FS) beyond Q1 2025 to explore optimization opportunities. The project, which could potentially triple Caledonia's gold production, is undergoing several key optimizations:
- Exploring potential concentrate sales to reduce initial capital expenditure by deferring BIOX processing circuit
- Evaluating relocation of Tailings Storage Facility to Motapa property for cost efficiency
- Incorporating promising Motapa exploration results, showing new mineralized zones near the proposed Bilboes plant
Additionally, high-grade mineralization discovered at the Blanket Mine could contribute to Bilboes' initial capital requirements. The company remains confident in the project's potential to reshape Caledonia's growth profile, supported by strong market conditions and positive exploration results.
Caledonia Mining (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) has announced the availability of documents for its upcoming Annual General Meeting (AGM). The meeting materials include the notice of AGM, management information circular for proxy solicitation, and a proxy form.
The AGM is scheduled to take place on Tuesday, May 6, 2025 at 9:00 a.m. (UK time) at the Radisson Blu Waterfront Hotel in St Helier, Jersey. Shareholders can access all relevant documents through the company's website under the shareholder information section.
Caledonia Mining (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) has declared a quarterly dividend of US$0.14 per share. The dividend schedule is as follows:
- Ex-dividend dates: April 2, 2025 (VFEX), April 3, 2025 (AIM), and April 4, 2025 (NYSE American)
- Record date: April 4, 2025
- Payment date: April 18, 2025
UK shareholders will receive their payments in Sterling. The company's dividend policy, established in 2014, is part of its strategy to maximize shareholder value. Future dividends will be evaluated based on investment opportunities and risk management approach.
Caledonia Mining (NYSE AMERICAN: CMCL) announces a delay in publishing its audited financial statements for the year ended December 31, 2024. The delay stems from an auditor query regarding deferred tax accounting treatment dating back to 2019.
The company emphasizes that this accounting issue is non-cash in nature and will have no impact on its cash position. The financial statements are now expected to be published by March 31, 2025. Management affirms that the company's underlying performance for 2024 remains in line with previous guidance and market expectations.
CFO Chester Goodburn will extend his tenure by one week, stepping down on March 31, 2025, following the financial results publication. The company has rescheduled its investor presentation and Q&A session to March 31, 2025, at 2:00pm London time.
Caledonia Mining (NYSE AMERICAN, AIM and VFEX: CMCL) has announced it will release its operating and financial results for both the full year and fourth quarter ended December 31, 2024, on March 24, 2025.
The company will host a remote presentation for analysts and investors on the same day at 2:00pm London time, which will include a Q&A session. The presentation materials covering the results and company outlook will be made available on Caledonia's website.
Caledonia Mining (NYSE AMERICAN, AIM and VFEX: CMCL) announced that CFO Chester Goodburn will step down on March 24, 2025, following the publication of 2024 financial results. He will be succeeded by Ross Jerrard, who previously served as CFO of Centamin plc from 2016 until its $2.5 billion acquisition by AngloGold Ashanti in 2024.
Jerrard, 50, brings significant financial leadership experience from his role at Centamin, a former FTSE-250 dual-listed mining company operating the Sukari gold mine in Egypt, which produces 450,000 ounces of gold annually. He is a member of the Institute of Chartered Accountants of Australia and New Zealand and Zimbabwe.
Goodburn, who has been with Caledonia since 2014 and served as CFO since July 2022, will remain as a consultant briefly to ensure a smooth transition. The company aims to become a mid-tier, Zimbabwe-focused gold producer.
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