Proactive Investors - Run By Investors For Investors

Caledonia Mining Corporation to list on US small cap market

The Zimbabwe-focused gold miner is to consolidate its shares on a 5 for one basis.
picture of Wall St
Caledonia will list on NYSE's small cap market

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."

View full CMCL profile View Profile

Caledonia Mining Corporation Timeline

Related Articles

April 13 2017
In the three months to March 31 this year, Mandalay produced 32,481 ounces of gold equivalent from the three mines
picture of gold mine
New Luika comprises nine deposits in the south of Tanzania
February 16 2017
Chaarat is progressing with economic studies at the Tulkubash project in Kyrgyzstan and will look to raise finance shortly

© Proactive Investors 2017

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use