Caledonia Mining may exceed production target says analyst
"Caledonia ranks amongst the lowest-cost of African producers and is a consistent dividend payer,” Liberum said in a note.
Company
LON:CMCL
Caledonia Mining Corporation Plc is a Zimbabwean focused exploration, development and mining corporation. The company owns a 64% stake in the gold-producing Blanket Mine, 100% stakes in the Bilboes Sulphide Project and the Motapa and Maligreen gold mining claims, all situated in Zimbabwe. After increasing the production at Blanket to 80,000oz in 2022, its main focus areas are to maintain production at around 75-80,000oz at Blanket, progress the Bilboes project and become a multi-asset gold producer in Zimbabwe.
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"Caledonia ranks amongst the lowest-cost of African producers and is a consistent dividend payer,” Liberum said in a note.
The Zimbabwe-focused miner provided an upbeat update
Mining and agriculture remain two of the key planks in the Zimbabwean economy
Liberum gave its verdict in a round-up of performance of the African gold diggers
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"This has been a terrific quarter and, indeed, half year," said chief executive Mark Learmonth
Gold production will quadruple if deal goes through
Investments and investor services
Caledonia Mining, Zimbabwe's largest gold producer, is to acquire Bilboes, Zimbabwe's largest undeveloped gold project
Caledonia agreed to buy Bilboes Gold Ltd, owner of the project, for about US$53.3mln in shares and a 1% net smelter royalty
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The mine produced a record amount for the second consecutive quarter
Caledonia recently completed a major expansion project at the Blanket gold mine
The company aims to become a multi-asset gold producer
A steady dividend payer, Caledonia has been "a nice little earner" for years but Cenkos argues there is more to the gold miner
It produced 6,797 ounces of gold in April, representing an annualised production rate of about 81,500 ounces
Gordon Wylie has over 46 years’ experience in the mining industry in exploration geology and mining, spanning 40 countries in five different continents
The company reiterated it is on track for 73,000oz to 80,000oz in total in 2022
The owner of Zimbabwe's Blanket mine is making a pay-out of 14 US cents a share for the first three months of the year
The Central Shaft at its Blanket gold mine cost about US$67mln and is flagged to help ramp up production