What it owns
Caledonia owns the Blanket gold mine in Southern Zimbabwe. The company has a long track record of successful operations there and is currently in the final stages of a major expansion.
How it's doing
The company booked gross revenues of US$100mln in the year to 31 December 2020.
Results released in March 2021 showed a gross profit of US$46.6mln at a gross margin of 47 per cent.
On-mines costs were US$744 per ounce, and normalised all-in sustaining costs were US$946 per ounce.
Total dividend paid was US$0.335 cents per share, a 21.8 per cent increase from 2019.
Overall, the company produced 57,899 ounces of gold in 2020.
2021 gold production guidance wa set at between 61,000 - 67,000 ounces.
Central Shaft commissioning is expected in the first quarter of 2021 after which production is expected to begin to ramp up to approximately 80,000 ounces in 2022.
From the chief executive
"Operationally, the last 12 months have been transformational for the business," said chief executive Steve Curtis.
"Central Shaft has been a five-year project costing approximately $67 million, all funded through internal cash flow and I am delighted that equipping was completed in the period and commissioning is on track to be completed in the first quarter of 2021."
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Inflexion points
- All-in-sustaining cost guidance of $810/oz – $850/oz
45% production growth planned
Rising cash generation from 2020