http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Thu, 19 Oct 2017 18:57:02 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171006070003_13388120/ Fri, 06 Oct 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171006070003_13388120/ <![CDATA[Media files - Caledonia Mining expecting strong finish to 2017 after record quarter ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8198/caledonia-mining-expecting-strong-finish-to-2017-after-record-quarter-8198.html Thu, 05 Oct 2017 19:15:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/8198/caledonia-mining-expecting-strong-finish-to-2017-after-record-quarter-8198.html <![CDATA[News - Caledonia Mining announces record quarterly gold production from Blanket Mine in Zimbabwe, raises 2017 guidance ]]> http://www.proactiveinvestors.co.uk/companies/news/185095/caledonia-mining-announces-record-quarterly-gold-production-from-blanket-mine-in-zimbabwe-raises-2017-guidance-185095.html Caledonia Mining Corporation PLC (LON:CMCL) has announced record quarterly gold production from the Blanket Mine in Zimbabwe for the quarter ended 30 September  2017.

In a statement, the AIM-listed firm said approximately 14,389 ounces of gold were produced during the quarter, 15% higher than the previous quarter and 7% higher than the corresponding quarter of 2016.

WATCH: Caledonia Mining expecting strong finish to 2017 after record quarter

The group added that the improvement in production in the third quarter is expected to continue into the fourth quarter. 

As a result, the company has narrowed the range of its 2017 production guidance from 52,000 to 57,000 ounces to a range of between 54,000 and 56,000 ounces.

Caledonia said it remains on track to achieve its production target of 80,000 ounces in 2021.

READ: Caledonia Mining maintains dividend guidance for 2017

Commenting on the production report, Steve Curtis, Caledonia’s chief executive officer, said: "The first half of 2017 presented Caledonia with some significant operating challenges which adversely affected production. 

“In May 2017 it was announced that our technical team was implementing various remedial measures aimed at alleviating the operating challenges and improving the reliability of our underground infrastructure.”

He added: “I am pleased to confirm that these measures implemented in the last three months have had the desired effect and have resulted in an improvement in both tonnage and grade at Blanket with associated higher production for the Quarter.”

]]>
Thu, 05 Oct 2017 07:39:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/185095/caledonia-mining-announces-record-quarterly-gold-production-from-blanket-mine-in-zimbabwe-raises-2017-guidance-185095.html
<![CDATA[RNS press release - Record Gold Production in Q3 2017 ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171005070004_13386565/ Thu, 05 Oct 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171005070004_13386565/ <![CDATA[RNS press release - Caledonia declares quarterly dividend ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171003070004_13383420/ Tue, 03 Oct 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171003070004_13383420/ <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170911103037_13358181/ Mon, 11 Sep 2017 10:30:37 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170911103037_13358181/ <![CDATA[RNS press release - Notification of significant shareholder ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170908070003_13356031/ Fri, 08 Sep 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170908070003_13356031/ <![CDATA[RNS press release - Correction to notification-significant shareholder ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170906122634_13353746/ Wed, 06 Sep 2017 12:26:34 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170906122634_13353746/ <![CDATA[RNS press release - Notification of change to significant shareholder ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170905070004_13351610/ Tue, 05 Sep 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170905070004_13351610/ <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170823095735_13339253/ Wed, 23 Aug 2017 09:57:35 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170823095735_13339253/ <![CDATA[Media files - Caledonia Mining optimistic despite challenging second quarter ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7926/caledonia-mining-optimistic-despite-challenging-second-quarter-7926.html Tue, 15 Aug 2017 08:03:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7926/caledonia-mining-optimistic-despite-challenging-second-quarter-7926.html <![CDATA[News - Caledonia Mining maintains dividend guidance for 2017 ]]> http://www.proactiveinvestors.co.uk/companies/news/182370/caledonia-mining-maintains-dividend-guidance-for-2017-182370.html Caledonia Mining Corporation PLC (LON:CMCL) produced just over 25,000 ounces of gold in the first half of 2017, at an all-in sustaining cost of US$856 per ounce.

However, on-mine costs per ounce did rise as grades fell and certain logistical constraints underground restricted output.

Operating cash flow during the second quarter of the year amounted to US$4.7 mln.

WATCH: Caledonia Mining optimistic despite challenging second quarter

It’s envisaged that the current dividend of US$0.275 cents per annum will be maintained.

“We remain confident of achieving our 2017 full year guidance of between 52,000 and 57,000 ounces,” said chief executive Steve Curtis.

The company remains on track to boost production to 80,000 ounces per year by 2021.

READ: Caledonia Mining Corporation on schedule with Blanket ramp up

 

 

]]>
Mon, 14 Aug 2017 08:18:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/182370/caledonia-mining-maintains-dividend-guidance-for-2017-182370.html
<![CDATA[RNS press release - Retirement of non-executive director ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170814073001_13328569/ Mon, 14 Aug 2017 07:30:01 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170814073001_13328569/ <![CDATA[RNS press release - Results for Second Quarter and First Half of 2017 ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170814070003_13328210/ Mon, 14 Aug 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170814070003_13328210/ <![CDATA[RNS press release - Shares to commence trading on the NYSE American ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170724070004_13304253/ Mon, 24 Jul 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170724070004_13304253/ <![CDATA[News - Caledonia Mining Corporation on schedule with Blanket ramp up ]]> http://www.proactiveinvestors.co.uk/companies/news/181234/caledonia-mining-corporation-on-schedule-with-blanket-ramp-up-181234.html Caledonia Mining Corporation PLC's (LON:CMCL TSE:CAL) Blanket gold mine has been in operation for many years now, and has managed to ride out the complexities of the Zimbabwean political situation relatively unscathed.

In large part that’s due to the indigenisation deal that Caledonia struck some years ago with local businessmen, with its own workers, and with other community groups.

Under the terms of that deal, Caledonia retains operational control of Blanket and ownership of 49% of it.

The terms of sale of the 51% stake stipulated that the company would be paid back out of cash flow from the mine itself, and on very commercial terms.

Accordingly, as with all the best deals, all parties felt that they came out of it well, and the company’s ability to operate in Zimbabwe has never been seriously in jeopardy.

WATCH: Caledonia Mining confident of hitting full year production targets Digging deeper

In recent years the concerns have been more about how to operate Blanket to maximum efficiency.

To that end the company has embarked on a heavy investment programme, the benefits of which are just beginning to show through.

Thus, a new tramming loop has been installed at the 750 metre level, allowing for the more efficient distribution of ore around the underground network of tunnels before it is brought to the surface for processing.

In addition, the company is also working on new shafts to increase the amount of ore it can haul to surface at any one time.

All told, the plan is to boost output in the longer term to more than 80,000 ounces per year by 2021.

 

Second half of 2017 to be stronger

In July, Caledonia said it expects to meet its gold production target this year through an improved second half performance.

The miner produced approximately 12,522 ounces of gold from the Blanket mine in the three months to June, about the same amount as a year ago.

Over the half year, output rose by 8.5% to 25,316oz, but Caledonia forecast output to rise over the next two quarters.

The target for the year is for production to be between 52,000oz and 57,000oz 

]]>
Thu, 20 Jul 2017 15:19:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/181234/caledonia-mining-corporation-on-schedule-with-blanket-ramp-up-181234.html
<![CDATA[Media files - Caledonia Mining confident of hitting full year production targets ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7818/caledonia-mining-confident-of-hitting-full-year-production-targets-7818.html Thu, 20 Jul 2017 12:10:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7818/caledonia-mining-confident-of-hitting-full-year-production-targets-7818.html <![CDATA[News - Caledonia Mining Corporation expects production uptick in second half ]]> http://www.proactiveinvestors.co.uk/companies/news/181195/caledonia-mining-corporation-expects-production-uptick-in-second-half-181195.html Caledonia Mining Corporation PLC (LON:CMCL TSE:CAL) expects to meet its gold production target this year through an improved second half performance.

The Zimbabwe-based miner produced approximately 12,522 ounces of gold from the Blanket mine in the three months to June, about the same amount as a year ago.

Over the half year, output rose by 8.5% to 25,316oz, but Caledonia expects output to rise over the next two quarters.

The target for the year is for production to be between 52,000oz and 57,000oz and to hit 80,000oz by 2021.

Caledonia is digging out a new central shaft at Blanket and operating challenges of combining production with this ongoing underground development affected the first half even though output increased.

Steve Curtis, Caledonia's chief executive, said infrastructure constraints at the 750 metre level had affected its ability to move the larger amounts of ore and development waste.

To deal with that, Caledonia prioritised capital development tonnage over ore production tonnage during the second quarter. 

"The existing infrastructure constraints at Blanket are temporary and are expected to be fully alleviated when the new Central Shaft is commissioned in the second half of 2018.” 

Measures to alleviate the short-term infrastructure constraints should result in a higher quarterly production in the remaining quarters of 2017, Curtis added.

]]>
Thu, 20 Jul 2017 07:42:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/181195/caledonia-mining-corporation-expects-production-uptick-in-second-half-181195.html
<![CDATA[RNS press release - Q2 2017 Production Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170720070004_13301223/ Thu, 20 Jul 2017 07:00:04 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170720070004_13301223/ <![CDATA[News - Caledonia reports fatality at Blanket ]]> http://www.proactiveinvestors.co.uk/companies/news/180594/caledonia-reports-fatality-at-blanket-180594.html Caledonia Mining Corporation PLC (LON:CMCL) has announced a fatality at the Blanket gold mine in Zimbabwe in a mining-related accident that occurred on 7 July 2017.

The accident occurred in number 6 shaft area of the mine.

Management has notified the Minister of Mines and Mining Development and the Inspector of Mines and will provide all the necessary assistance to the Ministry of Mines Inspectorate Department in its enquiry into this incident.

The company said that until such a time as the outcome of this enquiry has been reached, no further details could be released.

The directors and management of Caledonia and Blanket have expressed their sincere condolences to the family and colleagues of the deceased.

"We take the safety of our employees very seriously at Blanket so we are very disappointed with this fatality,” said chief executive officer Steve Curtis.

“I join with my colleagues in expressing our sincere condolences to the family, colleagues and friends of the deceased".

 

 

]]>
Mon, 10 Jul 2017 08:37:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/180594/caledonia-reports-fatality-at-blanket-180594.html
<![CDATA[RNS press release - Accident at Blanket Mine ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170710075802_13289026/ Mon, 10 Jul 2017 07:58:02 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170710075802_13289026/ <![CDATA[RNS press release - Share Consolidation Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170707143938_13288199/ Fri, 07 Jul 2017 14:39:38 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170707143938_13288199/ <![CDATA[RNS press release - Caledonia declares quarterly dividend ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170704070003_13282526/ Tue, 04 Jul 2017 07:00:03 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170704070003_13282526/ <![CDATA[RNS press release - Final Results of Share Consolidation ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170630081741_13279223/ Fri, 30 Jun 2017 08:17:41 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170630081741_13279223/ <![CDATA[RNS press release - Temporary change of trading symbol on the OTCQX ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170628070005_13275353/ Wed, 28 Jun 2017 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170628070005_13275353/ <![CDATA[RNS press release - Results of Share Consolidation ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170627070005_13273797/ Tue, 27 Jun 2017 07:00:05 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170627070005_13273797/ <![CDATA[RNS press release - Results of AGM and Notice of Share Consolidation ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170619114215_13265094/ Mon, 19 Jun 2017 11:42:15 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170619114215_13265094/ <![CDATA[RNS press release - Purchase of Securities by a Director ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170531140914_13244237/ Wed, 31 May 2017 14:09:14 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170531140914_13244237/ <![CDATA[RNS press release - Purchase of Shares by a Director ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170530070012_13241440/ Tue, 30 May 2017 07:00:12 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170530070012_13241440/ <![CDATA[RNS press release - Purchase of Shares by a Director ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170526140048_13240492/ Fri, 26 May 2017 14:00:48 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170526140048_13240492/ <![CDATA[RNS press release - Notification of holding in the Company ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170524165944_13237548/ Wed, 24 May 2017 16:59:44 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170524165944_13237548/ <![CDATA[Media files - Caledonia Mining to list on NYSE MKT ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7523/caledonia-mining-to-list-on-nyse-mkt-7523.html Wed, 24 May 2017 09:20:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7523/caledonia-mining-to-list-on-nyse-mkt-7523.html <![CDATA[News - Caledonia Mining Corporation to list on US small cap market ]]> http://www.proactiveinvestors.co.uk/companies/news/178248/caledonia-mining-corporation-to-list-on-us-small-cap-market-178248.html Caledonia Mining Corporation PLC (LON:CMCL TSE:CMCL)  is seek a listing on the New York Stock Exchange’s small cap market to boost liquidity and broaden its appeal to US investors.

To meet the share price threshold of at least a US$2 share price and the norm of over US$5 per share, the Zimbabwe-focused gold miner is to consolidate its shares on a 5 for one basis.

WATCH: Caledonia Mining to list on NYSE MKT

Shareholders with very small lots will be offered a cash alternative.

Leigh Wilson, chairman, said: "The company's proposed listing on NYSE MKT is a further step towards the transformation on which the business embarked with the adoption of the investment plan at Blanket mine in October 2014. 

"We expect that the increased gold production from the Blanket mine at a lower cost per ounce will result in attractive cash returns for both the company's shareholders and Blanket mine's local partners and stakeholders.

“It is appropriate that the company's shares are listed on a recognised US exchange that potentially offers the liquidity and improved access to institutional and retail investors in the US market which will support the company in its next stage of development."

]]>
Wed, 24 May 2017 08:49:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/178248/caledonia-mining-corporation-to-list-on-us-small-cap-market-178248.html
<![CDATA[RNS press release - Posting of AGM Materials & Proposed NYSE Listing ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170524070010_13236183/ Wed, 24 May 2017 07:00:10 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170524070010_13236183/ <![CDATA[RNS press release - Mining resumes at Eroica Ore Body ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170515104131_13225454/ Mon, 15 May 2017 10:41:31 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170515104131_13225454/ <![CDATA[News - Caledonia Mining reports fatality at Blanket mine ]]> http://www.proactiveinvestors.co.uk/companies/news/177785/caledonia-mining-reports-fatality-at-blanket-mine-177785.html Caledonia Mining Corporation PLC (LON:CMCL TSE:CAL) has reported a fatality at the Blanket gold mine in Zimbabwe.

Mining at Eroica ore body, where the incident occured and that contributed 10% of production in the last quarter, was briefly halted pending a risk assessment and investigation though it has since restarted.

Caledonia has notified Zimbabwe’s Minister of Mines and Mining Development and the Inspector of Mines and will provide all the necessary assistance to the Ministry of Mines Inspectorate Department in its enquiry into this incident.

Steve Curtis, chief executive, said: "This is a serious setback in our efforts to continuously improve safety at Blanket Mine.

“The previous fatality was in April 2015. Our heartfelt condolences go out to the family, colleagues and friends of the deceased".

-- update for Eroica ore body re-start--

]]>
Mon, 15 May 2017 08:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/177785/caledonia-mining-reports-fatality-at-blanket-mine-177785.html
<![CDATA[RNS press release - Accident at the Blanket Mine ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170515070009_13224753/ Mon, 15 May 2017 07:00:09 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170515070009_13224753/ <![CDATA[News - Caledonia Mining's profits double as production and gold price rise ]]> http://www.proactiveinvestors.co.uk/companies/news/177643/caledonia-mining-s-profits-double-as-production-and-gold-price-rise-177643.html Caledonia Mining Corporation (LON:CMCL) doubled profits as production from the Blanket mine in Zimbabwe rose by 18% in the three months to March.

Output totalled almost 12,800oz, up from 10,800oz, with costs US$30 per oz lower at US$659 and sustaining costs down US$99 at US$857.

Steve Curtis, chief executive said: “As the Blanket Mine has demonstrated in the past, increased production results in lower unit costs as the fixed cost component is spread across more production ounces.

Caledonia also benefited from a higher gold price of $1,213 per ounce, which lifted earnings to 5.3c or 96% higher than a year ago.

The miner is in the middle of a major upgrade to 49% owned Blanket, with the Central Shaft to be taken down by around another 400m to 1,080m

"Once complete, I expect the Central Shaft to enhance the operating efficiency at Blanket as it will transform the existing underground infrastructure, reduce travel times for employees to get to mining areas, shorten the tramming distances and reduce the time required to hoist ore to surface", said Curtis.

“Our cash balance declined slightly from the 2016 year-end figure of $14.3m, due to significant capital investment during the quarter and the normalisation of Blanket's working capital.

“I expect that 2017 will be the final year of significant capital investment in the Central Shaft project,” he said.

Yesterday Caledonia adjusted its production target for 2017 to between 52,000 and 57,000 ounces to reflect the work on the Central Shaft.

On the mining background in Zimbabwe, Curtis said electricity supply is variable but foreign exchange availability has improved.

The export incentive credit introduced in 2016 contributed US$576,000 in the quarter.

]]>
Thu, 11 May 2017 08:40:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/177643/caledonia-mining-s-profits-double-as-production-and-gold-price-rise-177643.html
<![CDATA[RNS press release - Results for the First Quarter of 2017 ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170511070014_13221744/ Thu, 11 May 2017 07:00:14 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170511070014_13221744/ <![CDATA[Media files - Caledonia Mining 's Blanket development going well says CEO ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7421/caledonia-mining-s-blanket-development-going-well-says-ceo-7421.html Tue, 09 May 2017 12:28:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7421/caledonia-mining-s-blanket-development-going-well-says-ceo-7421.html <![CDATA[News - Caledonia Mining tweaks production guidance as development work progresses ]]> http://www.proactiveinvestors.co.uk/companies/news/177513/caledonia-mining-tweaks-production-guidance-as-development-work-progresses-177513.html Caledonia Mining Corporation PLC (LON:CMCl TSE:CAL) has trimmed its production estimate from Zimbabwe's Blanket gold mine this year due to ongoing underground development work.

The UK and Toronto-listed group now expects to produce between 52-000–57,000 ounces of gold in 2017 compared to 60,000 ounces previously, though this still represents a rise on 2016 of 4% at the lower end and 14% at the top it said.

Because of the work to deepen the central shaft at Blanket, it has not been able to transport the volume of material necessary for 60,000 ounces of gold without disrupting the mine development plans.

WATCH: Caledonia Mining's CEO says Blanket development going well

Earnings guidance for 2017 has also been reduced from 34c to between 24 and 31c per share assuming a gold price of $1,275 per ounce, though this too would be 12% higher at the bottom compared to 2016.

Dividends are not likely to be affected by the lower production this year, the miner added.

Expansion of the central shaft is on schedule for completion by the fourth quarter of 2018.

The miner is drilling down to 1,080m to enable mining below 750m and open up more of the reserves at the mine.

When finished, Caledonia expects output of approximately 80,000 ounces per year by 2021 and this estimate was not affected by today’s revision.

Shares eased 2% to 100.5p.

]]>
Tue, 09 May 2017 11:23:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/177513/caledonia-mining-tweaks-production-guidance-as-development-work-progresses-177513.html
<![CDATA[RNS press release - Revised Production and Earnings Guidance for 2017 ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170509103040_13219122/ Tue, 09 May 2017 10:30:40 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170509103040_13219122/ <![CDATA[Media files - Technical analyst Zak Mir tips Caledonia Mining shares to add 50% ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7305/technical-analyst-zak-mir-tips-caledonia-mining-shares-to-add-50-7305.html Thu, 20 Apr 2017 09:35:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7305/technical-analyst-zak-mir-tips-caledonia-mining-shares-to-add-50-7305.html <![CDATA[News - Caledonia Mining on track to hit targets in 2017 as quarterly production at the 49%-owned Blanket mine rose by 18%. ]]> http://www.proactiveinvestors.co.uk/companies/news/176648/caledonia-mining-on-track-to-hit-targets-in-2017-as-quarterly-production-at-the-49-owned-blanket-mine-rose-by-18-176648.html Zimbabwe-based gold miner Caledonia Mining Corporation Plc (LON:CMCL) is on track to hit targets this year as quarterly production at the 49%-owned Blanket mine rose by 18%.

Some 12,794 ounces of gold were produced, putting it on track for annual production of 60,000 ounces. The long-term target is 80,000 ounces by 2021.

WATCH: Zak Mir on Caledonia Mining

Steve Curtis, Caledonia's chief executive, said progress with the development below 750m at the mine was on schedule.

Quarter-on-quarter production dipped by 6% but Curtis said this was in line with the historical quarterly production profile at Blanket with holidays and mine scheduling affecting production.

CLICK here to sign-up for the Proactive newsletter  ]]>
Thu, 20 Apr 2017 08:30:00 +0100 http://www.proactiveinvestors.co.uk/companies/news/176648/caledonia-mining-on-track-to-hit-targets-in-2017-as-quarterly-production-at-the-49-owned-blanket-mine-rose-by-18-176648.html
<![CDATA[RNS press release - Q1 2017 Production Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170420070007_13198044/ Thu, 20 Apr 2017 07:00:07 +0100 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20170420070007_13198044/ <![CDATA[Media files - Caledonia Mining's Maurice Mason presents at the Mining Capital Conference - March 2017 ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7210/caledonia-mining-s-maurice-mason-presents-at-the-mining-capital-conference-march-2017-7210.html Mon, 03 Apr 2017 09:42:00 +0100 http://www.proactiveinvestors.co.uk/companies/stocktube/7210/caledonia-mining-s-maurice-mason-presents-at-the-mining-capital-conference-march-2017-7210.html <![CDATA[News - Caledonia Mining achieves record fourth quarter gold production ]]> http://www.proactiveinvestors.co.uk/companies/news/175131/caledonia-mining-achieves-record-fourth-quarter-gold-production-175131.html Caledonia Mining Corporation’s (LON:CMCL, TSE:CAL) fourth quarter earnings gained, boosted by record gold production, lower costs and higher prices of the yellow metal.

Gold production jumped to 13,891 ounces (oz) in the three months to 31 December from 11,515oz in the year-ago period, supported by output at the Blanket mine in Zimbabwe, in which Caledonia owns a 49% stake.

The group also achieved record full year gold production, which rose to 50,351 oz in 2016 from 42,804 oz the prior year.

"Caledonia finished 2016 with a strong quarter with Blanket producing 13,591 ounces at an all-in sustaining cost (AISC) of $843 per ounce, a new quarterly production record for the mine,” said chief executive Steve Curtis.

“Full year 2016 production of 50,351 ounces at an AISC of $912 per ounce also represents a new annual production record for Blanket and is an achievement for which all of our staff can be justifiably proud.”

Watch: Caledonia Mining's Mark Learmonth delighted with record production

Gross profit in the fourth quarter rose to US$6.8mln from US$3.4mln and adjusted basic earnings per share (EPS) rose to 7.8c from 1.1c.

A robust fourth quarter supported full year growth with gross profit increasing to US$23.4mln from US$12.1mln and adjusted basis EPS rising to 21.4c from 8.8c.

The average realised gold price in the final three months rose to US$1,187 per oz from US$1,083 per oz a year ago while production costs fell to US$6.8mln from US$7.1mln.

Across the year gold prices averaged US$1,232 per oz, compared to US$1,139 per oz in 2015. Production costs in the full year rose to US$32.1mln from US$30.1mln.

The company ended the year with a stronger balance sheet with net cash rising to US$6.9mln in the fourth quarter from $2.3mln the previous year. For the full year, net cash jumped to US$23.0mln from US$6.8mln in 2015.

Caledonia maintained a full year dividend of 5.5c.

On the outlook for 2017, Curtis said the company expects to post a 19% increase in full year production to 60,000 oz as the ramp-up at Blanket towards 80,000 oz by 2021 continues. Caledonia estimates 2017 AISC of US$810 to US$850 per oz, down 7% and 11% respectively on 2016.

“"Caledonia remains well positioned for future growth and continues to evaluate investment opportunities as they arise. I look forward to updating the market with our continued progress over the course of 2017,” Curtis said. 

]]>
Tue, 21 Mar 2017 08:33:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/175131/caledonia-mining-achieves-record-fourth-quarter-gold-production-175131.html
<![CDATA[Media files - Caledonia Mining's Mark Learmonth delighted with record production ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/7133/caledonia-mining-s-mark-learmonth-delighted-with-record-production-7133.html Tue, 21 Mar 2017 08:14:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/7133/caledonia-mining-s-mark-learmonth-delighted-with-record-production-7133.html <![CDATA[News - Caledonia Mining confident of earnings uplift as production hits record ]]> http://www.proactiveinvestors.co.uk/companies/news/171451/caledonia-mining-confident-of-earnings-uplift-as-production-hits-record-171451.html Caledonia Mining Corporation Plc (LON:CMCL) has enjoyed a record quarter for gold production from the Blanket mine in Zimbabwe.

Some 13,591 ounces of gold were produced in the last three months, an 18% increase on a year ago and 1% up quarter on quarter.

Steve Cutis, chief executive, said teh rising production meant it was confident of achieving a significant improvement in earnings for 2017.

“As we increase production we expect earnings will continue to benefit from the increased sales volumes and from a lower average cost per ounce as fixed production costs and overheads are spread across higher production.

Over the year, the mine produced 50,351 ounces, up 17.6% and a new annual production record as the miner began work below 750 metres

The previous record from underground operations was 45,530 ounces achieved in 2013.

Target gold production for 2017 is approximately 60,000 ounces at an estimated on-mine cost in the range of $600 to $630 per ounce and an All-in Sustaining Cost in the range of $810 to $850 per ounce, with the target still 80,000 ounces annually by 2021.

The sinking of the new central shaft was also going to plan and reached a depth of 534m by year end said Curtis.

 

]]>
Wed, 11 Jan 2017 07:51:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/171451/caledonia-mining-confident-of-earnings-uplift-as-production-hits-record-171451.html
<![CDATA[News - Caledonia Mining an AIM rarity - a dividend paying gold junior ]]> http://www.proactiveinvestors.co.uk/companies/news/171082/Caledonia-Mining-an-AIM-rarity-a-dividend-paying-gold-junior--171082.html Caledonia Mining Corporation PLC (LON:CMCL) has burnished its reputation for being one of the few junior gold stocks on London’s junior market paying a dividend – and a decent one at that.

The company, which runs the Blanket Mine in Zimbabwe, is ready to distribute its latest quarterly tranche – 1.375 cents a share, giving an annual payout of 5.5p.

The ex-dividend dates are January 11 for Canadian investors and a day later for holders of the shares here in the UK.

The distribution of cash comes as Caledonia continues to invest in ramping up production from the deeper lying mineralisation at Blanket.

Production is forecast to be in the order of 60,000 ounces of the yellow metal this year, rising to 80,000 ounces by 2021.

“The continued payment of dividends to our shareholders is a key component of our strategy as we invest in future production growth and we are particularly proud of being able to continue to pay a healthy dividend whilst we invest in expanding production,” said Caledonia chief executive Steve Curtis.

“I am confident that as gold production continues to increase at the Blanket Mine as a result of our investment plan, the cost per ounce of gold produced will continue to fall.”

]]>
Tue, 03 Jan 2017 08:11:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/171082/Caledonia-Mining-an-AIM-rarity-a-dividend-paying-gold-junior--171082.html