BlackRock trims Caledonia Mining (NYSE: CMCL) holding to 6.44% total

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

6-K

Rhea-AI Filing Summary

Caledonia Mining Corporation Plc reports that BlackRock, Inc. has notified a change in its major shareholding, with total voting rights of 6.44% in the company as of 27 March 2026. This consists of 4.83% of voting rights attached to shares and 1.61% held through financial instruments.

BlackRock holds 933,809 voting rights directly attached to shares, plus exposure via securities lending and cash-settled CFDs. Its previous disclosed position was 6.55%, so the notification reflects a small decrease in BlackRock’s overall interest while remaining a significant institutional shareholder.

Insights

BlackRock slightly reduces its Caledonia stake but remains a key holder.

BlackRock, Inc. now controls 6.44% of Caledonia Mining’s voting rights, down modestly from 6.55%. The position combines 4.83% in shares and 1.61% via financial instruments such as securities lending and CFDs.

This adjustment is relatively small and keeps BlackRock as a notable institutional investor. The change was large enough to trigger a TR-1 major holdings notification under AIM Rules, signalling updated but still meaningful support from a global asset manager.

Key Figures

Total voting rights held by BlackRock: 1,245,363 voting rights (6.44%) Voting rights attached to shares: 933,809 voting rights (4.83%) Voting rights via financial instruments: 1.61% of voting rights +4 more

7 metrics

Total voting rights held by BlackRock 1,245,363 voting rights (6.44%) Resulting situation on 27 March 2026

Voting rights attached to shares 933,809 voting rights (4.83%) Direct shareholding, ISIN JE00BF0XVB15

Voting rights via financial instruments 1.61% of voting rights Combined total from securities lending and CFDs

Securities lending exposure 170,195 voting rights (0.88%) Financial instruments according to DTR5.3.1R (1)(a)

CFD exposure 141,358 voting rights (0.73%) Cash-settled CFDs under DTR5.3.1R (1)(b)

Previous total holding percentage 6.55% Position of previous notification by BlackRock

Date threshold crossed 27/03/2026 Date BlackRock crossed relevant notification threshold

Key Terms

TR-1, Notification of major holdings, voting rights, Securities Lending, +2 more

6 terms

TR-1 regulatory

"TR-1 Standard form for notification of major holdings"

A TR-1 is a financial form used by investors to report significant ownership stakes in a company, typically when they acquire or dispose of a large number of shares. It helps keep the market informed about major shareholders and potential changes in control, allowing other investors to make better-informed decisions. This transparency encourages fair trading and reduces surprises related to ownership shifts.

Notification of major holdings regulatory

"NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer"

A notification of major holdings is a regulatory report that discloses when an investor or institution acquires a large stake in a listed company. It tells the market who owns a meaningful piece of the company and can signal confidence, influence over decisions, or possible strategic moves; think of it like a public record showing when a new large homeowner buys into a neighborhood, which can change property dynamics and expectations. Investors use these notices to assess ownership shifts and potential impacts on share value and governance.

voting rights financial

"Total number of voting rights held in issuer (8.A + 8.B)"

Voting rights are the ability of shareholders to have a say in important company decisions, like choosing leaders or approving big changes. They matter because they give owners a voice in how the company is run, similar to how voters influence elections, ensuring the company acts in shareholders’ interests.

Securities Lending financial

"Securities Lending | N/A | N/A | 170,195 | 0.88%"

Securities lending is when an owner of stocks or bonds temporarily loans them to another party, usually so the borrower can sell them short or meet settlement needs; the lender receives a fee and typically some form of security in return. Investors should care because lending can generate extra income on holdings and affects market liquidity and short-selling activity, much like renting out a spare room brings income while someone else uses the space.

CFD financial

"CFD | N/A | N/A | Cash | 141,358 | 0.73%"

A CFD (contract for difference) is a financial agreement that lets an investor profit from the change in an asset’s price without actually owning that asset — like betting on a car’s value rising or falling without buying the car. It matters because CFDs use leverage, which can amplify gains and losses and allow easy access to different markets, so they change an investor’s potential return and risk profile and can lead to rapid losses if prices move unfavorably.

financial instruments financial

"% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)"

Financial instruments are assets or contracts that hold monetary value and can be bought, sold, or traded. They serve as tools for investors to grow, protect, or transfer money, much like how a ticket or voucher can be used to access goods or services. These instruments help individuals and organizations manage financial goals and risks across different markets and economic conditions.

Form 6-K: How Foreign Companies Report to the SEC →

04/01/2026 - 06:00 AM

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 6-K

Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
Of the Securities Exchange Act of 1934

For the month April 2026
Commission File Number: 001-38164

CALEDONIA MINING CORPORATION PLC
(Translation of registrant's name into English)

2 Mulcaster Street
St Helier
Jersey JE2 3NJ
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

		CALEDONIA MINING CORPORATION PLC
		(Registrant)


Date: April 1, 2026		/s/ JOHN MARK LEARMONTH
		John Mark Learmonth
		CEO and Director

EXHIBIT INDEX

Exhibit Number		Description

99.1		Press Release dated April 1, 2026

Exhibit 99.1

Caledonia Mining Corporation Plc

Notification of relevant change to significant shareholder

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

April 1, 2026: Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on March 30, 2026 from BlackRock, Inc. that on March 27, 2026 it had crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies).

A copy of the notification is below.

Enquiries:

Caledonia Mining Corporation Plc

Mark Learmonth

Camilla Horsfall

Tel: +44 1534 679 800

Tel: +44 7817 841 793

Cavendish Capital Markets Limited (Nomad and Broker)

Adrian Hadden

George Lawson

Tel: +44 207 397 1965

Tel: +44 131 220 9775

Camarco, Financial PR (UK)

Gordon Poole

Elfie Kent

Tel: +44 20 3757 4980

Curate Public Relations (Zimbabwe)

Debra Tatenda

Tel: +263 77802131

IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)

Lloyd Mlotshwa

Tel: +263 (242) 745 119/33/39

Head and Registered Office: Caledonia Mining Corporation Plc

2 Mulcaster Street, St Helier, Jersey, Channel Islands, JE2 3NJ

info@caledoniamining.com | | www.caledoniamining.com

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and to the FCA in Microsoft Word format if possible) ⁱ

1a. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached ⁱⁱ:			CALEDONIA MINING CORPORATION PLC
1b. Please indicate if the issuer is a non-UK issuer (please mark with an “X” if appropriate)
Non-UK issuer						X
2. Reason for the notification (please mark the appropriate box or boxes with an “X”)
An acquisition or disposal of voting rights						X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify) ⁱⁱⁱ:
3. Details of person subject to the notification obligation ^iv
Name			BlackRock, Inc.
City and country of registered office (if applicable)			Wilmington, DE, USA
4. Full name of shareholder(s) (if different from 3.) ^v
Name
City and country of registered office (if applicable)
5. Date on which the threshold was crossed or reached ^vi:			27/03/2026
6. Date on which issuer notified (DD/MM/YYYY):			30/03/2026
7. Total positions of person(s) subject to the notification obligation
	% of voting rights attached to shares (total of 8. A)	% of voting rights through financial instruments (total of 8.B 1 + 8.B 2)		Total of both in % (8.A + 8.B)	Total number of voting rights held in issuer (8.A + 8.B) ^vii
Resulting situation on the date on which threshold was crossed or reached	4.83%	1.61%		6.44%	1,245,363
Position of previous notification (if applicable)	5.18%	1.37%		6.55%

8. Notified details of the resulting situation on the date on which the threshold was crossed or reached ^viii
A: Voting rights attached to shares
Class/type of shares ISIN code (if possible)		Number of voting rights ^ix					% of voting rights
		Direct (DTR5.1)		Indirect (DTR5.2.1)			Direct (DTR5.1)		Indirect (DTR5.2.1)
JE00BF0XVB15				933,809					4.83%


SUBTOTAL 8. A		933,809					4.83%

B 1: Financial Instruments according to DTR5.3.1R (1) (a)
Type of financial instrument		Expiration date ^x	Exercise/ Conversion Period ^xi			Number of voting rights that may be acquired if the instrument is exercised/converted.			% of voting rights
Securities Lending		N/A	N/A			170,195			0.88%


			SUBTOTAL 8. B 1			170,195			0.88%

B 2: Financial Instruments with similar economic effect according to DTR5.3.1R (1) (b)
Type of financial instrument	Expiration date ^x		Exercise/ Conversion Period ^xi		Physical or cash Settlement ^xii			Number of voting rights	% of voting rights
CFD	N/A		N/A		Cash			141,358	0.73%


					SUBTOTAL 8.B.2			141,358	0.73%

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an “X”)
Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuer ^xiii
Full chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held starting with the ultimate controlling natural person or legal entity (please add additional rows as necessary) ^xiv				X
Name ^xv	% of voting rights if it equals or is higher than the notifiable threshold	% of voting rights through financial instruments if it equals or is higher than the notifiable threshold	Total of both if it equals or is higher than the notifiable threshold

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock (Singapore) Holdco Pte. Ltd.
BlackRock HK Holdco Limited
BlackRock Lux Finco S.a.r.l.
BlackRock Japan Holdings GK
BlackRock Japan Co., Ltd.

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
Trident Merger, LLC
BlackRock Investment Management, LLC

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BR Jersey International Holdings L.P.
BlackRock Holdco 3, LLC
BlackRock Cayman 1 LP
BlackRock Cayman West Bay Finco Limited
BlackRock Cayman West Bay IV Limited
BlackRock Group Limited
BlackRock Investment Management (UK) Limited

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Institutional Trust Company, National Association

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Holdco 4, LLC
BlackRock Holdco 6, LLC
BlackRock Delaware Holdings Inc.
BlackRock Fund Advisors	3.03%	0.01%	3.04%

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock International Holdings, Inc.
BlackRock Canada Holdings ULC
BlackRock Asset Management Canada Limited

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
BlackRock Holdco 2, Inc.
BlackRock Financial Management, Inc.
BlackRock Capital Holdings, Inc.
BlackRock Advisors, LLC

BlackRock, Inc.
BlackRock Saturn Subco, LLC
BlackRock Finance, Inc.
Trident Merger, LLC
BlackRock Investment Management, LLC
Amethyst Intermediate, LLC
Aperio Holdings, LLC
Aperio Group, LLC

10. In case of proxy voting, please identify:
Name of the proxy holder
The number and % of voting rights held
The date until which the voting rights will be held

11. Additional information ^xvi
BlackRock Regulatory Threshold Reporting Team Jana Blumenstein 020 7743 3650

Place of completion

12 Throgmorton Avenue, London, EC2N 2DL, U.K.

Date of completion

30 March 2026

Source: View Original Filing on SEC EDGAR

FAQ

What did Caledonia Mining (CMCL) announce about BlackRock’s shareholding?

Caledonia Mining announced that BlackRock, Inc. filed a major holdings notification showing a total voting interest of 6.44% as of 27 March 2026. This reflects BlackRock’s combined exposure through ordinary shares and related financial instruments in the company.

How large is BlackRock’s current voting stake in Caledonia Mining (CMCL)?

BlackRock’s total voting stake in Caledonia Mining is 6.44%, representing 1,245,363 voting rights. Of this, 4.83% is attached to shares and 1.61% comes from financial instruments, including securities lending positions and cash-settled contracts for difference (CFDs).

How did BlackRock’s holding in Caledonia Mining (CMCL) change from its previous notification?

BlackRock’s total interest moved from 6.55% previously to 6.44% of Caledonia’s voting rights. The share-based component declined from 5.18% to 4.83%, while the proportion held through financial instruments increased from 1.37% to 1.61%, indicating a slight rebalancing of exposure.

What portion of Caledonia Mining (CMCL) does BlackRock hold through actual shares?

BlackRock holds 933,809 voting rights in Caledonia Mining through ordinary shares, equal to 4.83% of total voting rights. This figure relates to ISIN JE00BF0XVB15 and represents the direct equity portion of BlackRock’s overall position in the company.

What financial instruments does BlackRock use for its Caledonia Mining (CMCL) exposure?

BlackRock’s financial instrument exposure to Caledonia Mining totals 1.61% of voting rights. This includes securities lending positions representing 0.88% and cash-settled CFDs representing 0.73%, both of which provide economic exposure alongside its core shareholding.

Why did BlackRock have to notify its Caledonia Mining (CMCL) holding?

BlackRock notified its Caledonia Mining holding because it crossed a relevant threshold under AIM Rules for Companies, triggering a TR-1 major holdings disclosure. The crossing occurred on 27 March 2026, and Caledonia received BlackRock’s formal notification on 30 March 2026.

Filing Exhibits & Attachments

1 document

Press Releases

EX-99.1 PRESS RELEASE 86.6 KB

BlackRock trims Caledonia Mining (NYSE: CMCL) holding to 6.44% total

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