Caledonia Mining Corporation (LON:CMCL)

Caledonia Mining Corporation (LON:CMCL)


Share Price
469.00 p
Change
14 (3.08 %)
Market Cap
£50.48 m
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Caledonia Mining Corporation

Caledonia Mining is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe which produced 54,512 ounces of gold in 2018 at an All in Sustaining Cost of $802/oz.

EPIC: CMCL
Market: AIM:CMCL
TSX:CAL
52-week High/Low: 694.00p / 331.00p
Sector: General Mining - Gold
Market Cap: £50.48 m
Website: www.caledoniamining.com
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Big Picture – A Deep Dive Examination of Caledonia Mining Corporation


Caledonia Mining Corporation Snapshot

Caledonia has a strong, experienced management team and board of directors with diverse expertise in gold production, exploration, mine development, finance and marketing. The group’s management team is based in Johannesburg, South Africa, London, United Kingdom and Jersey, Channel Islands.

Caledonia paid its initial dividend in February 2012. On April 4, 2013 Caledonia announced an annual dividend in respect of the year to December 31, 2012.

On November 25, 2013 Caledonia announced that in 2014 it intended to pay an annual aggregate dividend of 6 Canadian cents per common share, payable on a quarterly basis. The first quarterly dividend of 1.5 Canadian cents per common share was declared and paid in January 2014. Further quarterly dividends were paid thereafter.

On December 16, 2015, Caledonia announced that henceforth it would report its financial results in United States Dollars. The dividend paid at the end of January 2016 was therefore denominated in United States Dollars.

In Q3 of 2016 Caledonia increased its quarterly dividend from 1.125 US cents per share to 1.375 US cents per share, an increase of 22%, representing an annual dividend of 5.5 US cents.

In conjunction with the overall 1 for 5 share consolidation which became effective on June 26, 2017, Caledonia announced on July 4, 2017 that it had made a commensurate adjustment to the dividend by increasing it fivefold.

Caledonia acquired the Blanket Mine from Kinross Gold Corporation with effect from April 2006. Following the implementation of indigenisation with effect from September 5, 2012, Caledonia now owns 49% of Blanket.

Overview

Blanket Gold Mine is a well-established Zimbabwean gold mine, which operates at a depth of approximately 750 meters below surface and produced approximately 45,500 ounces of gold in 2013. Blanket also holds brownfield exploration and development projects both on the existing mine area and on its satellite properties which are within trucking distance of the Blanket metallurgical recovery plant.

In November 2014, Caledonia announced a revised investment plan for the Blanket Mine in terms of which production is expected to increase to approximately 80,000 ounces of gold by 2021 following the investment of approximately US$70m, all of which is expected to be funded from internal cash generation and existing cash resources.

The Blanket Mine is located in the south-west of Zimbabwe approximately 15 km west of Gwanda, the provincial capital of Matabeleland South. Gwanda is 150 km south east of Bulawayo the country’s second largest city and 196 km northwest of the Beit Bridge Border post with South Africa, and 560 km from Harare, Zimbabwe’s capital city. Access to the mine is by an all-weather tarred road from Gwanda, which is linked from Beit Bridge to Bulawayo and Harare by a national highway.

Click here for info on the Blanket Gold Mine.

Click here for info on operations around Zimbabwe.

Click here for info on exploration.

Jersey and South Africa.

Leigh Alan Wilson
Chairman, and Director

Steve Curtis
C.A. (SA) - Chief Executive Officer (Caledonia Mining South Africa Proprietary Limited) and Director

Mark Learmonth
Chief Financial Officer and Director

Johan Andries Holtzhausen
Director

John McGloin
Director

John Lawson Kelly
Director

Caledonia Mining Corporation Plc
Head and Registered Office
3rd Floor
Weighbridge House
Weighbridge
St Helier
Jersey JE2 3NF

+44 1534 679800
[email protected]

Caledonia Mining South Africa
4th Floor, No. 1, Quadrum Office Park
Constantia Boulevard
Floracliffe, South Africa

+27 11 447 2499

Registrar & Transfer Agent

Computershare Investor Services Inc.
100 University Ave, 8th Floor
Toronto, Ontario
M5J 2Y1 Canada
Tel: (416) 263-9483
Fax: (416) 981-9800

Nominated Advisor

WH Ireland
24 Martin Lane
London
EC4R ODR

Bankers

Barclays Bank
Level 11
1 Churchill Place
Canary Wharf
London
E14 5HP

Auditors

BDO South Africa Inc
52 Corlett Drive, Wanderers Office Park,
Illovo, 2196

Tel: +27 10 590 7200
Fax: +27 86 647 8956

Media and Investor Relations

Blytheweigh Communications
4-5 Castle Court
London EC3V 9DL
Tel: +44 20 7138 3204

Maurice Mason
VP Corporate Development & Investor Relations
Caledonia Mining Corporation Plc
Email: [email protected]
Mobile: +447590781139

Solicitors

Memery Crystal LLP
44 Southampton Buildings
London WC2A 1AP
United Kingdom

Borden Ladner Gervais LLP
Suite 4100, Scotia Plaza
40 King Street West
Toronto, Ontario
M5H 3Y4 Canada

Mourant
22 Grenville Street
St Helier
Jersey
JE4 8PX
Channel Islands

Dorsey & Whitney LLP
TD Canada Trust Tower
Brookfield Place
161 Bay Street
Suite 4310
Toronto, Ontario
M5J 2S1 Canada

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