Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) has entered into an At the Market, or 'ATM', sales agreement with Cantor Fitzgerald that, at its discretion from time to time, will allow the gold miner to sell up to US$50 million worth of shares.
Any sales of shares would occur via ordinary brokers' transactions or block trades, with sales only being made on the NYSE American at market prices, Caledonia added.
Net proceeds from any sales will be used for investment in the development of the Bilboes sulphide project, said the statement.