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 has announced encouraging initial results from its exploration program at Motapa Gold Project in Zimbabwe, adjacent to its Bilboes Gold Project. The program included 12,724m of trenching, 4,143m of diamond drilling, and 5,433m of reverse circulation drilling, revealing widespread gold mineralization over a 9km strike length.
Notable drilling highlights include intersections of 12.00m at 6.36g/t and 13.00m at 5.17g/t from the Jupiter area. The exploration focused on testing mineralization below historic oxide open pits and new target areas, with results confirming Motapa's strategic importance in the company's growth plans alongside the planned Bilboes development.
Caledonia Mining (NYSE AMERICAN: CMCL) announced receiving a notification from BlackRock, Inc. regarding a change in shareholding that crossed a threshold for notification on November 6, 2024. BlackRock's total position reached 5.00% of voting rights, consisting of 4.74% direct voting rights attached to shares (911,437 shares) and 0.26% through financial instruments. The total number of voting rights held by BlackRock in Caledonia amounts to 962,501.
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has announced it will release its Q3 2024 operating and financial results on Monday, November 11, 2024. The company will host a remote presentation for analysts and investors at 2:00 PM London time on the same day, which will include a Q&A session. A presentation detailing the quarterly results and company outlook will be available on Caledonia's website. Interested participants can register for the Zoom webinar through the provided link.
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has announced gold production from the Blanket Mine in Zimbabwe for Q3 2024. Key highlights include:
- Quarterly gold production of 18,992 ounces (down from 21,772 ounces in Q3 2023)
- Gold produced in the first nine months of 2024 was 56,815 ounces (up from 55,244 ounces in 2023)
- Caledonia reiterates its 2024 gold production guidance of 74,000 to 78,000 ounces
The company also announced changes to its dividend declaration timing, which will now align with quarterly results publication. This change does not affect the company's dividend policy. The Q3 2024 dividend, if approved, will be declared in mid-November.
Caledonia Mining Plc (NYSE American: CMCL; AIM: CMCL; VFEX: CMCL) has announced the vesting of 14,694 common shares to James Mufara, the Chief Operations Officer, as part of an award of Restricted Share Units under the Company's 2015 Omnibus Equity Incentive Compensation Plan. This vesting occurred on September 30, 2024, resulting in Mr. Mufara's interest in the company's share capital increasing to 0.076%.
The company has applied for admission of depositary interests representing these shares to trading on AIM, with trading expected to commence around October 4, 2024. Following this issue, Caledonia's total number of shares in issue will be 19,214,554 common shares of no par value each. The company has no shares in treasury.
Caledonia Mining Plc has signed a conditional sale agreement to sell its Zimbabwe subsidiary, Caledonia Mining Services (Private) (CMS), which owns and operates a 12.2MWac solar plant supplying power to Blanket Mine. The buyer, CrossBoundary Energy Holdings (CBE), will pay $22.35 million in cash for CMS. Key points:
- The sale will generate a profit on the $14.3 million construction cost
- Caledonia will retain exclusive energy off-take, ensuring about 20% of Blanket Mine's daily electricity needs continue to be met by renewable power
- CBE has been invited to tender for an expansion of the solar plant
- The sale proceeds will be reinvested in Caledonia's other projects expected to yield higher returns
- Completion of the purchase is subject to various conditions precedent, including local regulatory approvals
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced receiving a notification from BlackRock, Inc. on September 26, 2024, regarding a relevant change in shareholding as of September 25, 2024. The notification, required by AIM Rules for Companies, details BlackRock's holdings in Caledonia.
According to the TR-1 form, BlackRock's total position in Caledonia stands at 4.97%, comprising 4.56% of voting rights attached to shares and 0.40% through financial instruments. This represents a slight decrease from the previous notification of 5.00%. The total number of voting rights held by BlackRock in Caledonia is 955,428.
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) regretfully reports a fatal accident at its Blanket Mine in Zimbabwe on September 21, 2024. An employee was tragically killed after being struck by a fall of rock while drilling in a development area. Management at Blanket Mine is cooperating with authorities in their investigation of the incident.
Caledonia has expressed condolences to the family and colleagues of the deceased. The company is working closely with relevant authorities to assist in the inquiry into this unfortunate event. No further details about the accident or the identity of the employee have been provided at this time.
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced on August 15, 2024, that it received notification from BlackRock, Inc. regarding a relevant change in shareholding. As of August 12, 2024, BlackRock's total position in Caledonia Mining was 4.99%, consisting of 4.22% voting rights attached to shares and 0.77% voting rights through financial instruments. This represents a slight decrease from the previous position of 5.03%. The total number of voting rights held by BlackRock in Caledonia Mining is 959,474.
Caledonia Mining Plc announced strong Q2 2024 results, with gross revenues of $50.1 million, up from $37.0 million in Q2 2023. Gross profit increased 109.8% to $22.9 million. Blanket Mine produced 20,773 ounces of gold, compared to 17,436 ounces in Q2 2023. The all-in sustaining cost decreased 7.7% to $1,253 per ounce.
Key highlights include:
- Updated mineral reserves showing a 106% increase at Blanket Mine
- Preliminary economic assessment for Bilboes Sulphide Project suggesting 1.5 million ounces of gold over 10 years
- Net cash position improved by $12.8 million to negative $1.4 million
- Quarterly dividend of 14 cents per share maintained
Caledonia remains on track to achieve its 2024 production guidance of 74,000 to 78,000 ounces at Blanket Mine.
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