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26/11/2012

Caledonia Mining proposes regular dividend payments

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Market: AIM
Sector: General Mining - Gold
EPIC: CMCL
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Deal CMCL Tax Free*
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Caledonia Mining
www.caledoniamining.com
Deal Caledonia Mining Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.

 

Caledonia is an African focused mining and exploration company with an operating gold mine in Zimbabwe, a copper-cobalt exploration project in Zambia and two platinum-nickel exploration projects in South Africa. Caledonia is listed on the TSX (CAL), and on AIM (CMCL) and its shares are traded on the NASDAQ-OTCQX (CALVF).

 

Full Caledonia Mining profile here
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Caledonia Mining moves step closer to fulfilling indigenisation obligations

June 21 2012, 7:55am The company has agreed to finance the deals at a rate of 10 per cent above the 12-month London interbank offered rate, with the loans being repaid from future dividends.

Caledonia Mining Corporation (LON:CMCL, TSX:CMCL) said it has moved a step closer to fulfilling its obligations under the Zimbabwe Indigenisation Act.  

It has done so by signing an agreement with the National Indigenisation and Economic Empowerment Fund to sell a 16 per cent stake in its Blanket Mine for US$11.7 million.

This is part of a wider accord to transfer 51 per cent of gold mine to indigenous Zimbabweans for a total of US$30.1 million.

Caledonia has agreed to sell 15 per cent to a local consortium and 10 per cent to the Blanket Mine Employee Trust.

Meanwhile, a 10 per cent share of the mine will be donated to the Gwanda Community Share Ownership Trust.

The company has agreed to finance the deals at a rate of 10 per cent above the 12-month London interbank offered rate, with the loans being repaid from future dividends.


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