Share Name Share Symbol Market Type Share ISIN Share Description
Caledonia Mining Corporation Plc LSE:CMCL London Ordinary Share JE00BF0XVB15 COM SHS NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.50 -0.25% 990.00 950.00 1,025.00 991.50 987.50 991.50 5,472 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 71.0 22.2 86.9 10.7 127

Caledonia Mining Share Discussion Threads

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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.


cpap man
Generally very positive writeup in this week's Shares mag.
Mmmm? so buying cmcl yesterday on the nyse at a 30% discount would appear far to have been a bargain!
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
Down 27.5% stateside. Can't find any reason why other than it being the first day after the TSX delisting. Can anyone enlighten?
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

I'm getting a headache...
That's £15.80
Some big volatility today

Hit $20 @1 point
up of 10% in the states and Canada
Current exchange rate should put the UK price around £14.30

£13.92 based @ $1.27 and $17.69 closing price
closed @ £13.18 last night in the states based on £/$ 1.27
If you look at trading on the NYSE the price took a dip at the time of the LSE close but ended the day higher I expect it to be back up on Monday. Also the volume is ten times higher on NYSE so I'm not sure if there will be a review of trading on AIM sometime in the future.


Surprised by the fall.The selling probably due to the delisting for TSX exchange in Canada. Probably a good opportunity to add position. With the end of CapEx spend cycle, increasing production, and high gold prices, should lead to a significant increase in FCF over the next few years.


$16.98 close in the US last night giving a UK price of £13.50 approx, based @$1.255
up another 2.5% in the US to $16.5= £13.10
Discount /premium growing

Anyone know if you can buy in the UK and sell int US as there seems to be a 50p discount/premium either way
weird pre market in the states with what seems to be a small trade @$20
Stockopedia has the 2020 (EPS) brokers consensus increasing from $1.61 in May to $2.19 in June. I've not seen any recent brokers notes but that is a hefty 36% increase from last month.
When the company has selected a brownfield site, I look forward to the announcement of it because presumably the company will have evidence of resources and drilling grades, and with any luck they will have something worthwhile to share with us.
SP Angel . Morning View . Gold prices likely to rise if second wave COVID.19 hit major economies

Tuesday 12th May 2020

Caledonia Mining* (CMCL LN) 1072.5, Mkt Cap £116.6m – Quarterly results show little impact of Covid19 and improving operating environment in Zimbabwe

Caledonia Mining reports an increase in both gross profit and EBITDA during the quarter to 31st March 2020, with gross profit increasing by 146% to $10.6m (Q1 2019 - $4.3m) and EBITDA rising by 162% to $10.2m (Q1 2019 - $3.9m).

The result reflects increased gold production of 14,233oz of gold (Q1 2019 – 11,948oz) and a reduction in mine costs of $678/oz (Q1 2019 – 794/oz) and all in sustaining costs of $879/oz (Q1 2019 - $1,039/oz).

ʺCaledonia ended the Quarter with net cash and cash equivalents of $13.8 million – an increase of $4.9 million over the course of the Quarter.ʺ

The company also reports that it has completed the purchase of an additional 15% interest in the Blanket mine bringing its interest to 64%.

Caledonia Mining confirms that ʺCOVID 19 had a negligible effect on production and capital projects in the Quarter … because lockdowns were only implemented by the Zimbabwe and South African governments to manage the virus at the end of the Quarter. During the lockdowns, which extended for much of April, Blanket achieved approximately 93 per cent of its normal target production by using its stocks of consumables and implementing measures to safeguard employees. In early May, Blanket resumed full production and I expect production to continue as planned provided Blanket’s workforce remains healthy and its supply chains and access to market for the gold produced remain open.ʺ

The company also pointed to an improved operating environment in Zimbabwe with CEO, Steve Curtis, explaining that ʺAlthough the country continues to face challenges, the introduction of the interbank rate early in 2019 allows us to better protect our workers from the effects of high inflation. The interruptions to the supply of electricity from the grid which we experienced last year have largely been addressed following the conclusion of an agreement whereby Blanket (and other gold producers) purchases power which is imported into Zimbabwe. This power is cheaper than under the previous arrangement and Blanket can manage the reduced incidence of power interruptions using its increased suite of diesel generators.ʺ

ยท Mr. Curtis also said that ʺWe are also well-advanced in the evaluation of a solar project to provide some of Blanket’s power supply and reduce its dependence on imported power during daylight hours.ʺ

He also provided a progress report on the progress of the company’s strategic redevelopment of the Blanket mine and confirmed that ʺThe Central Shaft is the focus of our investing activities: when it is commissioned, Blanket will be able to increase production to the target rate of approximately 80,000 ounces of gold per annum. Work on Central Shaft continued throughout the lockdowns; however, completion of the project requires specialised equipment and contractors to travel to Blanket from South Africa which under the restrictions is not currently possible. This has not yet resulted in a significant delay to the project and we are receiving a high level of support from the Zimbabwe government to address these issues with the relevant authorities in South Africa.ʺ

As previously announced, the company confirms the payment of a quarterly dividend at the rate of 7.5cents/share introduced in January 2020.

Conclusion: Increasing production as the benefits of the long-term capital development programme at the Blanket start has helped reduce unit costs and improve cash generation giving the company the opportunity to maintain its increased quarterly dividend. It is encouraging to learn of the improving operating environment in Zimbabwe and that the Covid19 virus and resulting mitigation measures have had little negative impact on the operations.

*SP Angel mining analysts have visited Caledonia’s mining operations in Zimbabwe

cpap man
On several recent occasions the company has mentioned its intention to pursue additional mining opportunities in Zimbabwe.

Steve Curtis, CEO, repeated this intention in his recent interview on Directors Talk. He said something will be announced in the not too distant future.
The company will soon have the funds available both to acquire and develop a suitable property. Steve pointed out that towards the end of this year the work on the new shaft will be finishing and the company's capital expenditure there will be reducing. Furthermore, there will be greatly increased production from the Blanket Mine. This will enable the company "to look very aggressively" for new opportunities in Zimbabwe.

You only have to read a little of the NI 43 101 Technical Report (June 2011) on the Blanket Mine to realise the scale of the possibilities. The company are looking for a brownfield site, probably, therefore, a former gold mine that is no longer operating. Here is an extract from that NI 43 101 Report:

"The Blanket Mine is situated on the north-western limb of the Archaean Gwanda Greenstone Belt, along strike from several other gold deposits. It is one of the few remaining producing gold mines out of approximately 268 mines once worked in this greenstone belt."

268 former mines! The possibilities are absolutely enormous. If the company has access to old mining records, they may well be able to pick up the best of what has been abandoned. CMCL will have the cash. It has the mining skills. It has good working relations with the Zimbabwean authorities. I know there are issues in Zimbabwe, but there is also a lot to look forward to.

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