Caledonia Mining Stock Price, News & Analysis

Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has published its 2023 ESG Report, aligning with GRI and SASB standards for the first time. Key highlights include:

- 14% reduction in Scope 1 and 2 greenhouse gas emissions
- 62% reduction in diesel used in generators
- 18% of total water consumption from recycled water
- Total Injury frequency rate (TIFR) of 0.96
- 100% local employment at Blanket Mine and 92% local suppliers
- US$1.5m spent on corporate social responsibility
- US$19.2m total payments to Government
- 11% female representation on Board of Directors (increased to 25% in 2024)
- 33% female representation among senior corporate management

CEO Mark Learmonth emphasized the company's commitment to responsible operations and sustainable practices in Zimbabwe, highlighting the appointment of Colleen Parkins as Head of ESG and the installation of a 12.2 MWac solar plant.

Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced on July 25, 2024, that it received a notification from BlackRock, Inc. regarding a relevant change in shareholding. As of July 23, 2024, BlackRock's total position in Caledonia increased to 5.01% of voting rights, crossing a notification threshold.

The breakdown of BlackRock's position includes 4.53% of voting rights attached to shares (870,326 shares) and 0.47% through financial instruments (92,029 voting rights via CFDs). This change represents a slight increase from their previous position of 4.97%.

Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced a significant change in shareholding. On July 16, 2024, BlackRock, Inc. crossed a notification threshold, holding 5.01% of Caledonia's voting rights as of that date. The breakdown shows 4.53% direct voting rights and 0.47% through financial instruments, totaling 962,139 voting rights. This represents an increase from previous holdings of 4.67%.

The notification was filed on July 17, 2024, as required by the AIM Rules for Companies. The voting rights are held through various BlackRock entities, including BlackRock Fund Advisors, which alone holds 3.02%.

Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced that on July 10, 2024, Allan Gray Proprietary confirmed holding 1,343,747 shares. This represents 7.00% of Caledonia's issued share capital, marking a relevant change under AIM Rules for Companies. Allan Gray's interest is through its investment funds: Allan Gray Africa Equity Fund and Allan Gray Africa Ex SA Equity Fund This update reflects a change from their previously disclosed shareholding.

Caledonia Mining announced a strong production performance at its Blanket Mine in Zimbabwe for Q2 2024. The mine produced 20,773 ounces of gold, marking a 19% increase from the 17,436 ounces in Q2 2023. For H1 2024, production reached 37,823 ounces, a 13% rise over the same period in 2023. The company maintains its 2024 gold production guidance at 74,000 to 78,000 ounces. CEO Mark Learmonth expressed satisfaction with the results, emphasizing the company's preparedness to transition into a multi-asset gold producer. The production figures have been verified by Craig James Harvey, a qualified person under relevant regulatory standards.

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.