Caledonia Mining Share Discussion Threads

[mikkydhu] 14/7/2020 09:22

Thank you, tightfist.

I wasn’t able to find an easy way to access Mark Learmonth (Caledonia’s CFO) on Virtual Mello, so I went to Caledonia Mining’s website to see if I could find his interview there. I couldn’t; but I was able to see a video presentation by Mark given just after the Q1 results. Here is a nearly verbatim transcript of what he said on the question of the company’s thinking on possible future acquisitions and growth within Zimbabwe. It seems well thought out and he communicates it well.

“We must have looked at two dozen opportunities within Zimbabwe. Let’s not forget that 30 or 40 years ago Zimbabwe was Africa’s third biggest gold producer behind South Africa and Ghana. And geologically it is a very prospective area for gold. It just hasn’t been explored or commercialised over the last several decades for obvious reasons. So we think it’s a great jurisdiction.
Of those two dozen opportunities we’ve narrowed it down to four or five that we really like. None of these are large scale producing operations, so we’re not for a minute thinking of splashing out many, many tens of millions of dollars to buy some asset that’s been run into the ground and would need a huge amount of money to recapitalize it. So that’s not our focus. Let’s be clear about that. We’re looking at brownfield properties where there has been work done, perhaps many decades ago, and that work needs to be refreshed. It needs to be built upon. But typically we’ll be looking at things where we’ll get our hands on the asset for two, three, four million dollars, and over the course of a year or so, maybe two years, spend another couple of million dollars to drill and prove up the resource base, and then take it from there. So the idea is to redeploy some, but not all, of the cash that we generate from Blanket to build out a growth pipeline which will take us forwards for the next decades. But very clearly we don’t intend to blow all the money that’s coming out of Blanket on a big high-risk acquisition in Zimbabwe. So it’s much more gradual.”

[ntv] 10/7/2020 08:13

Tipped by City Index but you can't trade it on their platform! lol

[cpap man] 09/7/2020 11:20

SP Angel . Morning View . Gold, Copper and Iron Ore continues to post strong gains



Caledonia Mining* (CMCL LN) 1322.5, Mkt Cap £147.5m – H1 gold production increases 12.5%

Caledonia Mining reports that following a 6.2% increase in Q2 gold output at the Blanket mine to 13,499oz, H1 production of 27,732oz is 12.5% higher than the 24,660oz produced during H1 2019.

The company is maintaining its full year production guidance of 53-56,000oz ʺand remains on track with progress towards its target of 80,000 ounces by 2022ʺ.

Acknowledging the unusual challenges posed by the Covid19 pandemic during the quarter, CEO, Steve Curtis, said that ʺTo have achieved a 6.2% increase on the comparable quarter in 2019 during a period where our workforce and supply chains were disrupted is a performance of which every employee should be justifiably proud. Thankfully the virus has not affected our operations or the broader Zimbabwean gold mining sector too seriously although we remain vigilant.ʺ

Mr. Curtis also said that ʺThis strong performance and high gold prices have ensured that the business remains on a very solid foundation as we prepare for the next phase of our growth with the completion of the central shaft in 2020 and increased production to 80,000 ounces by 2022."

Conclusion: Despite the additional challenges of the Coronavirus pandemic, Caledonia Mining’s Blanket mine is remaining on track to meet its 2020 and longer term production guidance as its production builds with the culmination of the company’s long term investment to access deeper level mineralisation.

[ntv] 09/7/2020 09:15

no news on recent large trade either
A trade of 948,000 I think it was or at least around that figure
I wonder who the buyer/seller was?

[ntv] 09/7/2020 09:09

Price in the good ol' USA closed at $17.90
current $ rate is $1.265 approx
Hence US price = £14.15 approx

[sailing john] 09/7/2020 08:21

Given the C19 disruption, production increase is fantastic coupled with gold moving swiftly up through 1800.

I think Mr M is currently asleep at the wheel in the UK. US prices much more in alignment with recent news!
GL SJ

[leopoldalcox] 09/7/2020 08:05

Production figures look on track

[sailing john] 08/7/2020 10:00

Gold has just hit $1800! Might pause for a while but most Commentators seem to think it will keep going given state of world economies and investment opportunities.

[tightfist] 01/7/2020 07:57

16% rise in the US last night to close at £13.99 equivalent.....

[ntv] 30/6/2020 09:58

I wonder if the Bilboes mine is on their list of targets

[mikkydhu] 29/6/2020 15:41

Many thanks, cpap man.

A very confident account of the company. Curious that there's no mention in this interview of the possibility of acquiring another project to develop. Quite surprising that they are able to increase the dividend while contemplating the expense both of acquiring a new project and developing it.

[cpap man] 29/6/2020 14:38

www.share-talk.com/steve-curtis-chief-executive-officer-of-caledonia-mining-crp-cmcl-l-increased-quarterly-dividend/#gs.8zhatm



Steve Curtis, Chief Executive Officer of Caledonia Mining Crp (CMCL.L) increased quarterly dividend

Tim Blythe speaks to Steve Curtis, Chief Executive of Caledonia Mining, who operate the Blanket Gold Mine in Zimbabwe. This morning, Caledonia have announced another increase in their dividend, and Steve discusses this mark of confidence and their current work.

(NYSE AMERICAN: CMCL; AIM: CMCL)

[fredfishcake] 25/6/2020 11:57

Generally very positive writeup in this week's Shares mag.

[bazzer1000] 23/6/2020 16:49

Mmmm? so buying cmcl yesterday on the nyse at a 30% discount would appear ....so far to have been a bargain!

[tightfist] 23/6/2020 07:47

Interesting thought. The announcement 3? weeks ago said: ."Shareholders holding shares in Canadian brokerage accounts should contact their brokers to confirm how to trade in Caledonia's shares in the future on NYSE American or through depositary interests on AIM"..Having once held shares that became delisted on LSE (and remained on ASX) I could think that when the penny finally dropped and no TSX price was quoted, several Canadian holders instantly ran for the exit? .On the other hand there may be something more sinister afoot? tightfist

[critch16] 22/6/2020 23:39

Down 27.5% stateside. Can't find any reason why other than it being the first day after the TSX delisting. Can anyone enlighten?

[ntv] 16/6/2020 20:08

Lol so am I
Now down $2,50 from todays top in states but UK equivalent is now £13.86 about UK closing
Wow it is certainly volatile at the moment

[stemis] 16/6/2020 16:28

I'm getting a headache...

[ntv] 16/6/2020 14:57

That's £15.80
Some big volatility today

[ntv] 16/6/2020 14:54

Hit $20 @1 point

[ntv] 16/6/2020 11:02

up of 10% in the states and Canada
Current exchange rate should put the UK price around £14.30