Caledonia Mining Share Discussion Threads

[stemis] 10/4/2024 17:59

I am pleased that 2024 production at Blanket has got off to a strong start with over 17,000 ounces produced in the Quarter which, considering we had 8 fewer production days compared to Q1 2023, is an excellent result. With the current high gold prices, it was good to see our gold sales ounces increase by 17% in Q1 2024 versus Q1 2023

Certainly encouraging, but what will count is if they've got costs under control.

[stemis] 23/3/2024 11:26

Indeed, although it's all time high was ~1900p when gold price was lower. Admittedly there has been some dilution since then and inflation in costs, but nevertheless...

[pj84] 22/3/2024 22:53

SteMis at least it looks like the fall on the 4 March news was overdone and now moving in the right direction again.

[stemis] 21/3/2024 11:59

Share seems oblivious to the surging price of gold

[stemis] 08/3/2024 09:37

If they can get cash costs below $1000/oz (and all sustaining cost/oz in 2022 was $878) then, at this gold price and 75,000 oz production, the mine can generate $85-90m a year.

[stemis] 05/3/2024 08:11

Gold within touching distance of an all time high and CMCL at just 40% of it's all time high. Let's hope CMCL has it's costs under control now because if it can't make hay at this price, when will it ever?

[tsmith2] 04/3/2024 12:26

feels like a good entry point

[pj84] 04/3/2024 11:44

For now it is a case of waiting to see what materialises after the results in future updates and whether the CEO's optimism is justified.

"A number of the other cost items are not anticipated to be recurring, whereas others have arisen from our decisions to invest in the business, most notably around personnel and advancing the Bilboes sulphide project. I am confident that many of these will not recur in 2024 which has started positively and I look forward to the future with optimism as we pursue our goal of becoming a multi-asset production company."

[stemis] 04/3/2024 11:16

I've held these shares for quite a while, from below the current price, and had a lot of dividends. Hopefully this is just a temporary issue. However it does hit the credibility of management who previously were a safe pair of hands and casts a shadow on how they are possibly going to fund development of Bilboes without having built up a big cash balance and the share price on its *rse. The danger is we have bought (diluting shareholders in the process) a white elephant. Management have a lot to do to demonstrate a way forward from here.

[stemis] 04/3/2024 07:43

I guess we can see now why the share price has been so weak

[papillon] 15/2/2024 22:22

free stock charts from uk.advfn.com


CMCL log chart showing EMA's.

[papillon] 25/1/2024 19:40

CMCL gets a very positive mention.

[meanreverter] 13/1/2024 10:14

PJ84: The share price is low because the Zimbabwean government, with its history of confiscating assets, looks scary. That said, CMCL has been allowed to conduct its business without too many problems for 17 years, having an unbroken record of paying quarterly dividends for the past 10 years. It seems that this is one golden-egg-laying goose that the Zim government does not want to kill.

There should still be a discount for political risk. The tricky question is: how big should this discount be? The present yield of 4% is unexciting. However, I think that the management is first-class, and the company has two excellent, bought and permitted, projects in the pipeline, both of which can be internally (sequentially) financed. So, with cash flow needed for development, the dividend is unlikely to increase significantly over the next few years. The shares aren't on my current buy list but, as a long-term holder, I don't see much reason to sell them either.

(Added 15 January) Interview with Proactive:

[pj84] 12/1/2024 22:45

Only a day later than you predicted and annualised for 23 over 75,000 and a forecast of 74,000 to 78,000 for 2024 which doesn't seem to justify the current low share price given the price of gold and currently forecast to remain high.

[mikkydhu] 10/1/2024 10:28

It may be tomorrow that we will receive production figures for Q4 and for the whole of 2023.

Production for October 2023 was 6,900 ounces, which is at an annualised rate of 82,800 ounces.

It will be interesting to see how far in the last half year they have been able to make up the under-performance of the first half.

[stemis] 27/12/2023 10:27

Gold price pretty much at an all time high and yet CMCL share price half it's all time high...

[mikkydhu] 09/11/2023 11:02

Improvements to the Sitezi Secondary School and Health Clinic at Blanket Mine

[stemis] 11/10/2023 07:58

Good 3rd quarter production figures, confirming that operational issues at Blanket appear to have been resolved. Q4 is generally a decent month for production (2022: 21,049 oz) and they only need 19,756 oz to hit the lower end of their guidance for 2023 (75,000 oz). Hopefully we should see some recovery in the share price which, despite the strong gold price, has been weak...

[stemis] 10/8/2023 10:27

Looks like the operational issues at Blanket have been resolved (it happens in mining) and the company should return to profit and cashflow. However hard to see it making big progress until the market knows what it is going to do with Bilboe (and, spcifically, how it's going to fund it).

[leopoldalcox] 10/8/2023 09:57

"Before year end" apparently

[leopoldalcox] 10/8/2023 09:56

Poor results today. Well flagged but no avoiding it. Bilboes and Blanket both disappointing. We know that the economics of Blanket is usually very good, so I'm of the belief that this is a temporary issue there. Bilboes perhaps not what they expected. I can't remember when the CMCL feasibility is expected?

[stemis] 10/8/2023 08:40

The negatives aren't really new news. The only new information is the strong July performance.

[mikkydhu] 10/8/2023 08:10

Some negatives in this morning's RNS. That said, July's production figure of 7,829 ounces is encouraging. It represents an annualised rate of 93,948. If they can keep up something approaching this, they should make up the lost ground.

[tigerbythetail] 10/8/2023 07:47

Not a great RNS this morning as well.
I wonder if the acquisition of Bilboes won't turn out to be a disappointment.