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 Shares Traded Last Trade
  0.00 0.0% 900.00 642 08:00:00
Bid Price Offer Price High Price Low Price Open Price
870.00 930.00 900.00 900.00 900.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 57.46 23.23 99.63 9.0 104
Last Trade Time Trade Type Trade Size Trade Price Currency
10:48:56 O 500 902.9999 GBX

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Date Time Title Posts
24/9/202119:00Caledonia Mining - Zimbabwe Gold Recovery Play?791
01/2/202015:09CMCL - Buying Big Time for 1000% Profit111
20/9/201810:37Caledonia Mining (CMCL) One to Watch -
24/5/201813:54Caledonia Mining (CMCL) Numbers Revealed1

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Caledonia Mining Daily Update: Caledonia Mining Corporation Plc is listed in the Mining sector of the London Stock Exchange with ticker CMCL. The last closing price for Caledonia Mining was 900p.
Caledonia Mining Corporation Plc has a 4 week average price of 855p and a 12 week average price of 855p.
The 1 year high share price is 1,470p while the 1 year low share price is currently 855p.
There are currently 11,520,860 shares in issue and the average daily traded volume is 2,020 shares. The market capitalisation of Caledonia Mining Corporation Plc is £103,687,740.
stemis: From what I understand the seller (a private Zimbabwean company) needed money to progress one of their other properties, so it was a kind of fire-sale. Nobody else in Zimbabwe was able fund an acquisition for cash on this scale. Although non-Zimbabwe gold miners knew the property, they don’t have the in-country capacity to progress it. One of the advantages, I guess, of being an existing operator in a country which others see as high risk. Personally I think CMCL are ideally placed to take advantage of opportunities as Zimbabwe tries to exploit it's natural resources. Others, of course, may take a different view...
stemis: Sounds like a good strategy. Amazingly I've held these since 2012 (!!!) and bought at 235.63p (inc costs). I've even had 94% of my original investment back in dividends. There are risks with the share; price of gold, Zim politics, sentiment, but one thing I've always believed is that management know how to run a gold mine, are on shareholders' side and aren't going to take stupid risks with our money. Kicking myself for not selling at 1800p obviously, but think we'll eventually get beyond there
stemis: Yes, looks a good deal. Knowing how prudent CMCL management are, I'd guess they are pretty confident of the viability of the project to go for an outright purchase...
tigerbythetail: This morning's RNS concerning the purchase of Maligreen is a remarkable deal. I read it like this... 60,000m of drilling + test work + strip back for open pit (abandoned when gold price crashed in 2002; Using higher cut off grade of 1.0 g/t - 872 oz of inferred at good grade of 2.79 g/t; 3/4 of above should be open pittable; purchase price - $4m cost price + $1.6m confirmatory drilling etc. = $5.6m That is less than $10 per ounce for high grade open pittable inferred gold resource. This looks like something that would be fairly easy and cheap to get into production within 4 years or so.
stemis: Whilst the share price seems becalmed at around 900p, I've looked at the WH Ireland research note of 12 August. On production of 79.6k oz and a gold price of $1,650, they are forecasting 2022 earnings of 257p (352c), a dividend of 58p and cash of £47m. At 880p (at the time of the note) that's a PE of 3.5, EV/Ebitda of 0.8 and a yield of 6.4%. 2023 forecast is for cash to increase to £72m and dividend to 73p (a yield of 8.2%). Current market cap is £109m.
tigerbythetail: I'm not so silly as to be suggesting putting 100% (or even 20%) of your portfolio into a country like Zimbabwe. Obviously there are risks. Other than politics, CMCL is also a single mine operator, so plenty could theoretically go wrong - mining is hard. Though management is strong, which helps mitigate that. But CMCL is a good profitable dividend paying gold miner with its costs under control and on a good upwards trajectory. So I'm happy to let my smallish investment here just roll on and on and on. I'd add on opportunity if the share price gets cheap enough, but we're not there yet.
3800: Last summer CMCL was twice the current share price, gold is down from $2000 an oz at its peak to $1777 now,no idea what the dividend will be but I am expecting one though. 3800
papillon: There is a lovely bottoming out process going in the CMCL chart. Like the left hand side of a big cup. The fundamentals look good for gold (and CMCL) going by last week's RNS. I expect the right hand side of that big cup to start to form soon. Could be that in H1 2022 we are looking at the CMCL share price retesting last summer's high. All dependent on the gold price rising in line with analyst's forecasts, of course.
stemis: Anyone who wants to wade through the figures in more detail, it's all here hxxps://wp-caledoniamining-2020.s3.eu-west-2.amazonaws.com/media/2021/03/22070056/CMCL-MDA-Dec31-2020-FINAL.pdf I guess the share price fall reflects the weakening in the gold price which pretty much (save the 5% royalty) falls straight through the Caledonia's bottom line. Quite a few one off's in the results; exchange, price support, covid costs and impairments. Then of course there are minority interests. Best I can see is that our share of ebitda is around $36m putting the valuation at about 4.8 x ebitda. Next year our share of ebitda is projected at up to 24% higher. Once we get to 80,000 next year however it should be at least 50% higher even without margin enhancement.
stemis: It's sometimes hard to know what drives the CMCL share price. At the moment all the news seems to be positive. We are heading quickly towards 80,000 oz at an all in cash cost of under $850/oz. At the current gold price of $1,850/oz that would produce >$80m a year. Current market value is around $188m (inc. $21m of cash, although a chunk of that is earmarked for the solar plant). It's a pain to have the share price drop by 1/3 but as long as CMCL keep delivering operationally I'm confident the price will eventually recover.
Caledonia Mining share price data is direct from the London Stock Exchange
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