ST HELIER, Jersey, Nov. 11, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces its operating and financial results for the quarter and the nine months ended September 30, 2024 (the "Quarter" and "nine months" respectively). Further information on the financial and operating results for both can be found in the management discussion and analysis ("MD&A") and the unaudited financial statements, which are available on ...

Core Viewpoint - Caledonia Mining Corporation has announced promising initial results from its exploration program at the Motapa project, which is adjacent to its Bilboes Gold Project in Zimbabwe, indicating significant gold mineralization potential [1][5]. Exploration Program Overview - The exploration program at Motapa has included 12,724 meters of trenching, 4,143 meters of diamond drilling (DD), and 5,433 meters of reverse circulation drilling (RC), achieving its initial objectives [3][6]. - The drilling has revealed widespread gold mineralization over a combined strike length of more than 9 kilometers, with high-grade intersections reported in several areas [3][4]. Drilling Highlights - Significant drill results include: - Hole JPRC01: 12.00 meters at 6.36 g/t from 81 meters downhole - Hole JPRC05: 13.00 meters at 5.17 g/t from 88 meters downhole - Hole MPZRC02: 4.00 meters at 10.95 g/t from 12 meters downhole - Hole JDD08: 14.00 meters at 3.20 g/t from 63 meters downhole [3][4][49]. Strategic Importance - The proximity of Motapa to the Bilboes project enhances its strategic importance, as it is expected to play a key role in the company's growth strategy [5][11]. - The exploration activities at Motapa are seen as having substantial upside potential from both greenfield and brownfield exploration opportunities [6][11]. Geological Context - Motapa is located within the Bubi Greenstone Belt and features three main mineralized shear zones: Motapa North, Motapa Central, and Motapa South [7][8]. - The geological mapping and drilling have identified slates, meta-andesites, and banded iron formations (BIFs) as host rocks for gold mineralization, with mineralization being structurally controlled [15][33]. Future Plans - The company plans to conduct follow-up drilling in 2025 to define an open pit mineral resource, particularly focusing on the northern trend of Motapa [17][19]. - Further updates on assay results and exploration progress are anticipated as the company continues its assessment of the Motapa project [6][24].

ST HELIER, Jersey, Nov. 04, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (NYSE AMERICAN, AIM and VFEX: CMCL) ("Caledonia" or the "Company") expects to publish its operating and financial results for the quarter ended September 30, 2024 on Monday, November 11, 2024. A remote presentation for analysts and investors will be held on the same day, at 2:00pm London time, followed by an opportunity to ask questions. A presentation of the results for the quarter and outlook for Caledonia will be availa ...

ST HELIER, Jersey, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (NYSE AMERICAN, AIM and VFEX: CMCL) ("Caledonia" or the "Company") announces gold production from the Blanket Mine in Zimbabwe ("Blanket") for the quarter ended September 30, 2024 ("Q3 2024" or the "Quarter"). All production numbers are expressed on a 100 per cent basis and are based on the final assay at the refiners. Highlights Quarterly gold production of 18,992 ounces (Q3 2023: 21,772 ounces; this was a quarterly recor ...

ST HELIER, Jersey, Oct. 01, 2024 (GLOBE NEWSWIRE) -- Further to the announcement made by Caledonia Mining Corporation Plc (NYSE American: CMCL; AIM: CMCL; VFEX: CMCL) ("the Company" or "Caledonia") on April 10, 2024 relating to the issue of awards under the Company's 2015 Omnibus Equity Incentive Compensation Plan (the "Plan"), Caledonia announces that an award of Restricted Share Units made to James Mufara, the Chief Operations Officer, vested on September 30, 2024. A total of 14,694 common shares of no pa ...

We wrote about Caledonia Mining Corporation Plc (NYSE: CMCL ) in March of 2023 when we rated the gold miner a strong buy primarily due to its growing production & keen valuation at the time. The company's longterm technicals also Individual investor with a keen interest in deriving income from investment setups. We do this by buying undervalued profitable stocks with strong balance sheets & minimal debt. Furthermore, when the opportunity arises, we like to write calls against our positions to bring in addit ...

Financial Data and Key Metrics Changes - Production increased to just under 21,000 ounces of gold in Q2 2024, up from 17,500 ounces in Q2 2023, indicating a substantial improvement [2][4] - Gold price realization was $2,300 per ounce, significantly higher than $1,949 in the same quarter last year [4] - Revenue for the quarter exceeded $50 million, reflecting a 35.4% increase due to higher production and gold prices [6] - Gross profit more than doubled to nearly $23 million from approximately $11 million in the previous year [4][6] - Net profit attributable to shareholders was nearly $8.4 million, compared to a loss of $0.5 million in the corresponding quarter [4][6] - Earnings per share (EPS) rose to $0.43, with adjusted EPS at $0.51 for the quarter [6] Business Line Data and Key Metrics Changes - The all-in sustaining cost decreased, with online costs at Blanket reduced to $906 per ounce from $915 in the previous quarter [6][8] - Administrative expenses decreased by approximately $3 million due to prior year expenditures related to the Bilboes sulfide project [8] - Cash generation increased, with over $20 million generated in the quarter, marking the highest cash generation in the last two years [9] Market Data and Key Metrics Changes - The company maintained production guidance for Blanket Mine at 74,000 to 78,000 ounces for the year, with similar levels expected from 2025 onwards [10] - The life of mine plan now extends to 2041, significantly underpinning the business going forward [3] Company Strategy and Development Direction - The company is focused on completing the feasibility study for the Bilboes sulfide project, which is expected to produce 1.5 million ounces over a 10-year mine life [2][10] - The strategy includes becoming a multi-asset gold producer, with ongoing exploration at Motapa [10][11] - The company is refining its understanding of the debt capacity for the Bilboes project, anticipating a high proportion of funding to be sourced from debt due to the project's high margins [10] Management Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the new ZiG currency, which replaced the RTGS, and noted that foreign exchange losses have decreased significantly since the introduction of the ZiG [21][24] - The company acknowledged the risk of water shortages due to drought conditions in Zimbabwe but indicated that measures have been taken to mitigate this risk [16][17] - Management remains optimistic about production levels and cost management, with expectations for continued improvement in future quarters [5][10] Other Important Information - The company has rescheduled the declaration and payment of quarterly dividends for administrative purposes [3] - The increase in gold ounces produced was attributed to both higher tonnage and improved grades [3] Q&A Session Summary Question: BlackRock's increased shareholding and its implications - Management clarified that BlackRock's participation is as a passive fund manager tracking the Russell 3000 Index, and their shareholding will fluctuate based on the company's market capitalization [13][14] Question: CapEx increase for the Tailings facility - The increase in planned CapEx was due to improvements in underground pneumatics at Blanket [15] Question: Impact of water shortages on operations - Management noted that the new aligned tailings facility allows for better water recycling, mitigating the impact of water shortages [16][17] Question: Production grade profile at Blanket - The grade profile is currently lower than in previous years but is expected to improve over time [18] Question: Foreign exchange losses and their impact on adjusted EPS - Management explained that foreign exchange losses have been significant in the past but are expected to become less noticeable with the stability of the new currency [21][24] Question: Rock fall incident at Eroica - Management confirmed that the rock fall was an isolated incident and production has returned to normal levels [36] Question: Planned CapEx for H2 - Management confirmed that planned CapEx will be released in the second half of the year, amounting to approximately $31 million to $32 million by year-end [37] Question: Solar power project and its future - The solar project will be sold, but a long-term power purchase agreement will remain in place, ensuring continued benefits [38]

Management has prepared the information and representations in this interim report. The unaudited condensed consolidated interim financial statements of Caledonia Mining Corporation Plc and its subsidiaries (the "Group") have been prepared in accordance with IFRS Accounting Standards, as issued by the International Accounting Standards Board ("IFRS") and, where appropriate, these statements include some amounts that are based on best estimates and judgment. Management has determined such amounts on a reason ...

ST HELIER, Jersey, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announces its operating and financial results for the quarter ended June 30, 2024 (the "Quarter"). Further information on the financial and operating results for the Quarter and the six months ended June 30, 2024 can be found in the management discussion and analysis ("MD&A") and the unaudited financial statements which are available on the Company ...

ST HELIER, Jersey, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (NYSE AMERICAN, AIM and VFEX: CMCL) ("Caledonia" or the "Company") expects to publish its operating and financial results for the quarter ended June 30, 2024 on Monday, August 12, 2024. A remote presentation for analysts and investors will be held on the same day, at 2:00pm London time, followed by an opportunity to ask questions. A presentation of the results for the quarter and outlook for Caledonia will be available on ...