http://www.proactiveinvestors.co.uk Proactiveinvestors RSS feed en Tue, 12 Dec 2017 14:28:09 +0000 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/LSE20171201070007_13450325/ Fri, 01 Dec 2017 07:00:07 +0000 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171201070007_13450325/ <![CDATA[Media files - Miners keeping close watch on army takeover in Zimbabwe ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8369/miners-keeping-close-watch-on-army-takeover-in-zimbabwe-8369.html Wed, 15 Nov 2017 13:27:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8369/miners-keeping-close-watch-on-army-takeover-in-zimbabwe-8369.html <![CDATA[Media files - Caledonia Mining's Blanket mine still has a lot of life left in it yet, says CEO Curtis ]]> http://www.proactiveinvestors.co.uk/companies/stocktube/8366/caledonia-mining-s-blanket-mine-still-has-a-lot-of-life-left-in-it-yet-says-ceo-curtis-8366.html Tue, 14 Nov 2017 15:36:00 +0000 http://www.proactiveinvestors.co.uk/companies/stocktube/8366/caledonia-mining-s-blanket-mine-still-has-a-lot-of-life-left-in-it-yet-says-ceo-curtis-8366.html <![CDATA[News - Caledonia boosts production and revenues at Blanket gold mine ]]> http://www.proactiveinvestors.co.uk/companies/news/187139/caledonia-boosts-production-and-revenues-at-blanket-gold-mine-187139.html Revenues from gold production at the Blanket gold mine in Zimbabwe rose to over US$18.2 mln in the third quarter, up from the US$17.6 mln generated in the corresponding period a year ago, according to operator and major shareholder Caledonia Mining Corporation PLC (LON:CMCL).

Pre-tax profit rose to US$6.2 mln, up from US$4.1 mln a year ago.

READ: Caledonia Mining to extend central shaft at Blanket mine after resource upgrade

"Gold production in the quarter achieved a new record:  14,396 ounces of gold were produced in the third quarter - seven per cent more than the third quarter of 2016 and 15 per cent more than in the preceding quarter,” said chief executive Steve Curtis. 

READ: Caledonia Mining ups resources at Blanket mine for sixth successive year

“The increased production was primarily due to higher grades, which was due to the improved mine flexibility as a result of the measures taken in previous quarters. The higher gold production resulted in higher revenues and a substantial increase in profit.  Net profit attributable to shareholders in the quarter was US$3.1 million - almost three times higher than the third quarter of 2016 and over four times higher than the preceding quarter.”

 

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Mon, 13 Nov 2017 08:24:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187139/caledonia-boosts-production-and-revenues-at-blanket-gold-mine-187139.html
<![CDATA[RNS press release - Information relating to significant shareholder ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171113070005_13428557/ Mon, 13 Nov 2017 07:00:05 +0000 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171113070005_13428557/ <![CDATA[RNS press release - Results for the Third Quarter ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171113070003_13428493/ Mon, 13 Nov 2017 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171113070003_13428493/ <![CDATA[News - Caledonia Mining to extend central shaft at Blanket mine after resource upgrade ]]> http://www.proactiveinvestors.co.uk/companies/news/187064/caledonia-mining-to-extend-central-shaft-at-blanket-mine-after-resource-upgrade-187064.html Caledonia Mining Corporation PLC (LON:CMCL, NYSE:CMCL) has potentially secured the future of its Blanket mine in Zimbabwe for the next 20 years by opting to extend the central shaft on site to greater depths.

It comes on the back of the recent resource upgrade, which underlined potential volume and grade at depth.

READ: Caledonia Mining ups resources at Blanket mine for sixth successive year

Total measured and indicated gold ounces now amount to 714,000 ounces compared to 671,000 ounces at the end of 2016, the company said last week.

The central shaft is currently under construction, and will now be extended by a further 250 metres to a depth of 1,330 metres and fully commissioned by the end of the first quarter of 2020, the mining group said.

"The Central Shaft is already a transformational project for our business, and to extend the project an additional 250 metres in depth including development on 34 and 38 levels will potentially secure Blanket's operating future for the next 20 years taking exploration potential into account," said Steve Curtis, chief executive at Caledonia.

"It is significantly cheaper to continue the shaft sinking while we are in the construction phase of the project rather than to deepen a fully commissioned and operational shaft in several years' time," he added.

"The creation of an additional two levels will also increase the mining flexibility and further de-risk the target production of 80,000 ounces per annum from 2021."

The extension and associated capital development of additional production levels will cost around US$18mln to be funded by Blanket's internal cash generation.

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

A preliminary economic assessment (PEA) indicates a project NPV (net present value) over the life of mine (LOM) of US$193mln based on a gold price of US$1,260/ounce and a 10% discount rate.

Total output from the measured and indicated resources over the life of the mine is expected to be around 420,000 ounces and production from inferred resources is expected to be around 550,000 to 600,000 ounces between 2018 and 2031.

Caledonia expects that its long term All-In Sustaining Cost (AISC) guidance is expected to remain in the range of US$700 to US$800 per ounce.

Notably, the indicated resource below 30 level of 37,000 ounces justifies as a standalone project alone the investment of US$18mln for the shaft deepening and the additional two production levels.

Caledonia said it had also started a mid-shaft loading system at Blanket using the existing Central Shaft infrastructure to handle development waste to improve handling capacity and alleviate pressure on Number 4 shaft.

Caledonia owns 49% of the Blanket mine.

Shares in London added 0.72% to 418p

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Fri, 10 Nov 2017 07:32:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/187064/caledonia-mining-to-extend-central-shaft-at-blanket-mine-after-resource-upgrade-187064.html
<![CDATA[RNS press release - Extension of Central Shaft Project ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171110070003_13426998/ Fri, 10 Nov 2017 07:00:03 +0000 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171110070003_13426998/ <![CDATA[News - Caledonia Mining ups resources at Blanket mine for sixth successive year ]]> http://www.proactiveinvestors.co.uk/companies/news/186632/caledonia-mining-ups-resources-at-blanket-mine-for-sixth-successive-year-186632.html Caledonia Mining Corporation PLC (LON:CMCL) has raised its estimate of the mineable gold at Blanket in Zimbabwe by 6%, an upgrade that might extend the mine’s life.

Steve Curtis, chief executive, said the improvement underscored the overall confidence level in Blanket's resources.

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

Total measured and indicated gold ounces now amount to 714,000 ounces compared to 671,000 ounces at the end of 2016.

Curtis added the miner is modifying the life-of-mine plan at Blanket to include the additional ounces where possible with a view to extending its life.

Caledonia owns 49% of the mine and is midway through a major expansion that includes a new central shaft.

There was a slight reduction in the average grade to 3.98g/t from 4.31g/t, but this grade remains well above what is being processed currently.

READ: Caledonia Mining Corporation on schedule with Blanket ramp up

Inferred resources, a less certain classification, rose by 47% to 887,000oz or 5.53mln tonnes at a grade of 4.99g/t.

The miner added resources at Blanket have now risen for six sixth successive years since 2011 even though over 250,000oz of gold had been dug out during this period.

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Thu, 02 Nov 2017 07:47:00 +0000 http://www.proactiveinvestors.co.uk/companies/news/186632/caledonia-mining-ups-resources-at-blanket-mine-for-sixth-successive-year-186632.html
<![CDATA[RNS press release - Resource Update ]]> http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171102070004_13417534/ Thu, 02 Nov 2017 07:00:04 +0000 http://www.proactiveinvestors.co.uk/companies/rns/156/LSE20171102070004_13417534/ <![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.”

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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

 

 

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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 

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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.

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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".

 

 

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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."

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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--

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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.

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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