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26/11/2012

Caledonia Mining proposes regular dividend payments

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Additional Information
Market: AIM
Sector: General Mining - Gold
EPIC: CMCL
Latest Price: 74.00p  (0,00%)
52-week High: 94.00p
52-week Low: 46.30p
Market Cap: 38.57M
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Deal CMCL Tax Free*
*subject to change and depends on individual circumstances.
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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 boost from Zambia drill results

August 09 2012, 11:36am The shares rose 0.38 pence to 5.5 pence, building on the near 20 per cent rise we have seen in the past month.

Shares in Caledonia Mining Corporation (LON:CMCL, TSE: CAL) rose 7 per cent this morning following some cautiously optimistic drill results from its Nama base metal project in Zambia.

A total of 13 of the 18 holes drilled so far have intersected copper at an average weighted grade of 0.52 per cent over 1,300 metres.

The mineralisation extends from surface to 580 metres and is open at depth and to the west and is between 10 and 27 metres thick. 

Caledonia has already begun the next phase of drilling, expected to entail a further 10 holes for a total of 2,100 metres. 

The objectives is to identify a possible westerly extension to the mineralised zone and improve the confidence level of the resource data.  

“This work will take approximately five months to complete, subject to the onset of rains in the last two months of the year,” the company said in a statement this morning.

To date the company has carried out just under 7,400 metres of diamond drilling on Nama in two stages.

The shares rose 0.38 pence to 5.5 pence, building on the near 20 per cent rise we have seen in the past month.

“The results are encouraging and should aid the search for a potentially economic target,” said Canaccord this morning.

The City broker reckons Caladonia, which also owns the Blanket gold mine Zimbabwe, is worth 16 pence a share.


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