Caledonia Mining Corporation (DI) (CMCL)

Sector:

Mining

Index:

FTSE AIM All-Share

 1,185.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 1,290.00p
  • 52 Week Low: 720.00p
  • Currency: UK Pounds
  • Shares Issued: 19.21m
  • Volume: 163
  • Market Cap: £227.69m
  • RiskGrade: 174

Caledonia Mining reports record gold production at Blanket

By Josh White

Date: Monday 13 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Caledonia Mining Corporation announced record quarterly gold production from the Blanket Mine in Zimbabwe for the quarter ended 31 December on Monday, reporting that approximately 16,876 ounces of gold were produced during the period, exceeding the previous production record of 16,425 ounces set in the final quarter of 2017.
The AIM-traded firm said production was 24% higher than the previous quarter, and 13% higher than the corresponding final quarter of 2018.

Total gold production during 2019 was around 55,182 ounces, which was ahead of revised production guidance of between 50,000 and 53,000 ounces.

Caledonia also advised that gold production for 2020 was expected to be between 53,000 and 56,000 ounces.

"I am delighted to report a production record at Blanket of 16,867 ounces in the fourth quarter," said chief executive officer Steve Curtis.

"An improvement in the electricity supply and vigilant focus on grade control and production tonnage have resulted in an excellent production result for the final quarter of which our entire operational staff can be justifiably proud.

"The impressive operational turnaround was achieved without any compromises on safety."

Curtis said that was "a commendable achievement", given the distractions posed by the challenging conditions experienced by its workers due to the economic environment in Zimbabwe.

"I am also pleased to see that we have not lost this momentum as we start 2020 with the mine continuing to perform very well into the new year.

"With the improved operational performance and the current buoyant gold prices leading to healthy operating margins we expect Caledonia to continue its track record of strong cash generation."

Curtis added that the board expected 2020 to be "a landmark year" for the business, adding that it was looking forward to commissioning the Central Shaft later in 2020 which it anticipated would then deliver increased operating cash flows and reduced capital expenditure.

"In early January 2020 we announced a 9.1% increase in Caledonia's quarterly dividend; the anticipated improvement in free cash flow is expected to enable the board to review future dividend distributions as appropriate."

At 1242 GMT, shares in Caledonia Mining Corporation were up 5.2% in London at 668p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

CMCL Market Data

Currency UK Pounds
Share Price 1,185.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 1,290.00p
52 Week Low 720.00p
Volume 163
Shares Issued 19.21m
Market Cap £227.69m
RiskGrade 174

CMCL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
21.20% above the market average21.20% above the market average21.20% above the market average21.20% above the market average21.20% above the market average
65.08% above the sector average65.08% above the sector average65.08% above the sector average65.08% above the sector average65.08% above the sector average
Price Trend
10.91% above the market average10.91% above the market average10.91% above the market average10.91% above the market average10.91% above the market average
81.02% above the sector average81.02% above the sector average81.02% above the sector average81.02% above the sector average81.02% above the sector average
Income
33.58% above the market average33.58% above the market average33.58% above the market average33.58% above the market average33.58% above the market average
50% below the sector average50% below the sector average50% below the sector average50% below the sector average50% below the sector average
Growth
19.48% above the market average19.48% above the market average19.48% above the market average19.48% above the market average19.48% above the market average
86.44% below the sector average86.44% below the sector average86.44% below the sector average86.44% below the sector average86.44% below the sector average

What The Brokers Say

Strong Buy 0
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 1
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CMCL Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 11-Jul-24 11-Apr-24
Paid 26-Jul-24 26-Apr-24
Amount 14.00¢ 14.00¢

Trades for 31-Oct-2024

Time Volume / Share Price
16:26 65 @ 1,161.00p
12:05 42 @ 1,195.00p
11:39 9 @ 1,160.00p
09:52 24 @ 1,160.00p
09:15 7 @ 1,206.00p

CMCL Key Personnel

Chair John Lawson Kelly
CEO John Mark Learmonth

Top of Page