Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has told investors it is increasing its share placing in Zimbabwe and extending the deadline, due to higher-than-expected demand.
The deadline, which had been midday today, will now be extended by up to a week as existing and new Zimbabwean institutional shareholders wish to participate but require extra time to attend to their own administrative requirements, the company said in a statement.
It now expects to raise more than US$3mln from the share sale in Zimbabwe.
A further announcement is anticipated next week.