ST HELIER, Jersey, May 20, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) gives below the information required by Schedule Six of the AIM Rules for Companies in connection with its "At the Market" or "ATM" sales agreement with Cantor Fitzgerald & Co ("Cantor") (the "ATM Sales Agreement"), as announced on May 18, 2023. | Name of company: | Caledonia Mining Corporation Plc | | --- | --- | | ATM Sales Agreement | | | Name of ...

Indicate the number of outstanding shares of each of the issuer's classes of capital or stock as of the closing of the period covered by the annual report: Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. ☒Yes ☐ No In ...

Call Start: 09:00 January 1, 0000 9:27 AM ET Caledonia Mining Corporation Plc (NYSE:CMCL) Q1 2024 Earnings Conference Call May 13, 2024 09:00 ET Company Participants Camilla Horsfall - Vice President, Group Communications Mark Learmonth - Chief Executive Officer Chester Goodburn - Chief Financial Officer Camilla Horsfall [Call starts abruptly] Welcome to our Q1 2024 Results Call for shareholders. On the call from Caledonia, you have Mark Learmonth, our CEO; Chester Goodburn, our CFO; Victor Gapare, our Exec ...

ST HELIER, Jersey, May 13, 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 March 31, 2024 (the "Quarter"). Further information on the financial and operating results for the Quarter can be found in the Management Discussion and Analysis ("MD&A") and the unaudited interim financial statements which are available on the Company's website and which are being ...

ST HELIER, Jersey, May 07, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("the Company") (NYSE American, AIM and VFEX: CMCL) announces the results of its annual general meeting of shareholders (the "AGM") held at St Helier, Jersey today. The total number of shareholders present in person or by proxy at the AGM was 96, representing 62.28% of the Company's outstanding voting shares. The table below shows the proxy votes received on resolutions 1(a) to 1(h), which were duly passed by a show of hand ...

ST HELIER, Jersey, April 10, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE:CMCL, AIM: CMCL, VFEX: CMCL))) announces that it received notification on April 9, 2024 from BlackRock, Inc. that on April 8, 2024 it had crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies). A copy of the notification is below. Enquiries: Caledonia Mining Corporation PlcMark LearmonthCamilla Horsfall Tel: +44 1534 679 800Tel: +44 7817 8 ...

ST HELIER, Jersey, April 10, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE:CMCL, AIM: CMCL, VFEX: CMCL))) announces gold production from the Blanket Mine in Zimbabwe ("Blanket") for the quarter ended March 31, 2024 ("Q1 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. The increased Q1 2024 production was derived from 8 fewer production days (9.3% less) compared to quarter 1 ...

ST HELIER, Jersey, April 08, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or the "Company") (NYSE:CMCL, AIM: CMCL, VFEX: CMCL))) is pleased to announce that James Mufara (aged 49) has agreed to join the Caledonia group as Chief Operating Officer with effect from May 1, 2024. James was previously at Harmony Gold Mining Company Limited where, as Regional General Manager, he headed a complex portfolio of operations consisting of five mines and 15,000 staff, mining 450koz of gold per a ...

Caledonia Mining Corporation Plc (NYSE:CMCL) Q4 2023 Earnings Conference Call April 3, 2024 9:00 AM ET Company Participants Camilla Horsfall - VP, Group Communications Mark Learmonth - CEO Chester Goodburn - CFO Camilla Horsfall We're going to run through the presentation as always, and we will leave time for questions at the end. What we do ask though is if you do have a question, if you could just raise your hand and we will unmute you. We find that's a better format than the written Q&A. I'm now just goi ...

[2023 Annual Results Overview](index=1&type=section&id=Results%20for%20the%20Year%20ended%20December%2031%2C%202023) [2023 Financial Summary](index=1&type=section&id=2023%20Financial%20Summary) In 2023, Caledonia's revenue increased by 3% to $146.3 million, driven by a higher average gold price. However, gross profit fell to $41.5 million from $61.8 million in 2022, and EBITDA decreased to $29.7 million from $50.4 million. This decline was primarily due to increased production costs at Blanket Mine, operating costs from the temporary Bilboes oxide mine, and several one-off expenses, including advisory fees and a settlement for the former COO. Consequently, adjusted EPS dropped significantly to 17.1 cents, and the company ended the year with a net cash deficit of $11.0 million Key Financial Metrics (2023 vs 2022) | Metric | 2023 | 2022 | | :--- | :--- | :--- | | Gross Revenue | $146.3 million | $142.1 million | | Gross Profit | $41.5 million | $61.8 million | | EBITDA | $29.7 million | $50.4 million | | Adjusted EPS | 17.1 cents | 219.9 cents | | Net Cash from Operating Activities | $14.8 million | $42.6 million | | Net Cash and Cash Equivalents | $(11.0) million | $1.5 million | - The decrease in profitability was largely attributed to higher production costs at Blanket (**$69.6M**), operating costs at the Bilboes oxide mine (**$13.1M**), and a **46% increase** in administrative expenses due to one-off payments[36](index=36&type=chunk)[29](index=29&type=chunk) - On-mine cost per ounce rose to **$1,047** from **$735** in 2022. Excluding the temporary Bilboes oxide mine, the cost was **$912 per ounce**, with the increase driven by higher labor and electricity costs[36](index=36&type=chunk) - All-in sustaining cost (AISC) per ounce increased by **64.6%** to **$1,445**, up from **$878** in 2022, reflecting higher on-mine costs and sustaining capital expenditure[36](index=36&type=chunk) [Operating Highlights](index=1&type=section&id=Operating%20Highlights) Caledonia achieved its 2023 production guidance with 75,416 ounces of gold produced at Blanket Mine. The company has set a production target of 74,000 to 78,000 ounces for 2024. Deep-level drilling at Blanket continues to yield encouraging results, suggesting potential for an increased life of mine, with a revised mineral resource statement expected in Q2 2024. A notable operational event was 3,057 ounces of gold being held as work-in-progress at year-end, which were sold in early January 2024 - Annual gold production at Blanket Mine was **75,416 ounces** in 2023, which was in line with guidance[26](index=26&type=chunk)[37](index=37&type=chunk) - The 2024 gold production guidance for Blanket is set at **74,000 to 78,000 ounces**[37](index=37&type=chunk)[53](index=53&type=chunk) - Deep-level drilling results at Blanket's Eroica and AR South ore bodies indicate **better grades and widths** than previously expected, with a revised resource statement anticipated in **Q2 2024**[25](index=25&type=chunk)[31](index=31&type=chunk)[37](index=37&type=chunk) - Gold sales in Q4 excluded **3,057 ounces** held as work-in-progress at year-end, which were subsequently sold in early January 2024[26](index=26&type=chunk)[37](index=37&type=chunk)[40](index=40&type=chunk) [CEO Commentary and Strategic Outlook](index=2&type=section&id=CEO%20Commentary%20and%20Strategic%20Outlook) The CEO expressed confidence in Blanket Mine as the foundation for growth, despite one-off costs impacting 2023 profitability. The company is actively addressing high labor and power costs. The core strategy is to evolve into a multi-asset, Zimbabwe-focused gold producer, aiming for over 250,000 ounces per annum. Immediate priorities for 2024 include meeting production targets at Blanket, extending its mine life, completing a revised feasibility study for the Bilboes project to optimize capital, and continuing exploration at Motapa - The company's vision is to become a multi-asset, Zimbabwe-focused gold producer with an ambition to produce over **250,000 ounces of gold per annum**[41](index=41&type=chunk) - Management has taken steps to address higher than expected labor and power costs and is evaluating measures to reduce electricity consumption and improve labor efficiency[40](index=40&type=chunk)[44](index=44&type=chunk)[45](index=45&type=chunk) - Strategic focus for 2024 includes: producing **74,000-78,000 oz** at Blanket, extending Blanket's life of mine, completing the updated Bilboes feasibility study, and continuing exploration at Motapa[53](index=53&type=chunk) - A quarterly dividend of **14 cents per share** was declared, reflecting management's confidence in the business operations[24](index=24&type=chunk)[51](index=51&type=chunk) [Operational Review and Projects](index=2&type=section&id=Operational%20Review%20and%20Projects) [Blanket Mine Operations](index=2&type=section&id=Blanket%20Mine%20Operations) Blanket Mine's performance remains robust, forming the core of the company's strategy. However, operations in 2023 faced challenges from high electricity and labor costs. The poor quality of grid power is a significant production risk, prompting investigations into alternative power solutions and efficiency measures. Management is transitioning mining activities to be serviced by the new Central Shaft to reduce costs and improve efficiency. An ongoing underground drilling program has yielded positive results, suggesting an extension to the mine's life - The poor quality of electricity supply from the Zimbabwe grid is the most significant production risk. Management is investigating options to stabilize supply and reduce diesel generator usage[28](index=28&type=chunk) - Production costs increased due to high electricity usage from older shafts. The mine is transitioning to the new Central Shaft, which is expected to reduce power consumption in **2024 and 2025**[27](index=27&type=chunk)[44](index=44&type=chunk) - Labor force management improved in late 2023, significantly reducing overtime costs, with these efficiencies expected to continue[45](index=45&type=chunk) - Total drilling for 2023 was **13,280 meters**. Results from the Blanket, Eroica, and AR South ore bodies are expected to be reflected in a revised resource statement in **Q2 2024**[23](index=23&type=chunk)[31](index=31&type=chunk) [Bilboes Project Development](index=3&type=section&id=Bilboes%20Project%20Development) The small-scale Bilboes oxide mining operation was placed on care and maintenance from October 1, 2023, due to incurring losses. This move reduced monthly costs at the site from approximately $1 million to $200,000. Work on a revised feasibility study for the large-scale sulphide project is well-advanced. The company is focused on reducing the initial capital expenditure and optimizing project economics to maximize shareholder value - The Bilboes oxide mine was returned to care and maintenance effective **October 1, 2023**, due to operating at a loss[36](index=36&type=chunk)[47](index=47&type=chunk) - Monthly costs at Bilboes were reduced from **~$1 million** to **~$200,000** after transitioning to care and maintenance[47](index=47&type=chunk) - A revised feasibility study for the large-scale Bilboes sulphide project is in progress, with a focus on reducing initial capital expenditure to enhance project economics[26](index=26&type=chunk)[32](index=32&type=chunk)[48](index=48&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statement of Profit or Loss](index=5&type=section&id=Consolidated%20statements%20of%20profit%20or%20loss%20and%20other%20comprehensive%20income) For the year ended December 31, 2023, the company reported revenue of $146.3 million, a slight increase from $142.1 million in 2022. However, gross profit declined significantly to $41.5 million from $61.8 million, and operating profit fell to $15.2 million from $40.3 million. The company recorded a net loss for the period of $618,000, a sharp reversal from a net profit of $22.9 million in 2022. This resulted in a basic loss per share of $0.24, compared to earnings per share of $1.36 in the prior year Consolidated Statement of Profit or Loss (in thousands of USD) | Account | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **Revenue** | **146,314** | **142,082** | **121,329** | | Production costs | (82,709) | (62,998) | (53,126) | | **Gross profit** | **41,482** | **61,819** | **54,074** | | Administrative expenses | (17,429) | (11,941) | (9,091) | | **Operating profit** | **15,177** | **40,276** | **38,360** | | Profit before tax | 12,192 | 39,636 | 37,999 | | **(Loss) profit for the period** | **(618)** | **22,866** | **23,142** | | Basic (loss) earnings per share ($) | (0.24) | 1.36 | 1.49 | [Consolidated Statement of Cash Flows](index=6&type=section&id=Consolidated%20statements%20of%20cash%20flows) Net cash inflow from operating activities decreased substantially to $14.8 million in 2023 from $42.6 million in 2022. Cash used in investing activities was $31.2 million, primarily for property, plant, and equipment. Financing activities provided a net cash inflow of $3.9 million, largely due to a share issuance of $15.6 million, which was offset by dividend payments ($11.1 million) and loan note repayments ($7.3 million). Overall, the company experienced a net decrease in cash and cash equivalents of $12.5 million, ending the year with a negative cash position of $11.0 million Consolidated Statement of Cash Flows (in thousands of USD) | Account | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | | **Net cash inflow from operating activities** | **14,769** | **42,616** | **30,903** | | **Net cash used in investing activities** | **(31,161)** | **(44,329)** | **(35,715)** | | **Net cash from/(used in) financing activities** | **3,931** | **(12,754)** | **2,164** | | Net decrease in cash and cash equivalents | (12,461) | (14,467) | (2,648) | | **Net cash and cash equivalents at end of year** | **(11,032)** | **1,496** | **16,265** | [Consolidated Statement of Financial Position](index=7&type=section&id=Consolidated%20statements%20of%20financial%20position) As of December 31, 2023, total assets increased to $328.3 million from $235.2 million in 2022, mainly due to a significant rise in non-current exploration and evaluation assets to $94.3 million. Total liabilities also grew to $64.1 million from $41.7 million. Total equity increased to $264.2 million from $193.5 million, bolstered by a substantial increase in share capital to $165.1 million Consolidated Statement of Financial Position (in thousands of USD) | Account | As at Dec 31, 2023 | As at Dec 31, 2022 | | :--- | :--- | :--- | | **Total non-current assets** | **274,074** | **196,764** | | **Total current assets** | **54,229** | **38,427** | | **Total assets** | **328,303** | **235,191** | | **Total equity** | **264,192** | **193,459** | | **Total liabilities** | **64,111** | **41,732** | | **Total equity and liabilities** | **328,303** | **235,191** | [Other Information](index=1&type=section&id=Other%20Information) [Dividend Declaration and Conference Call](index=1&type=section&id=Dividend%20Declaration%20and%20Conference%20Call) Caledonia has declared a quarterly dividend of 14 U.S. cents per share, payable on April 26, 2024, signaling continued confidence in its operational cash generation. Management will host a conference call and webinar on April 3, 2024, at 2:00 PM London time to discuss the 2023 financial results - The company declared a quarterly dividend of **14 U.S. cents per share**[24](index=24&type=chunk)[51](index=51&type=chunk) - A conference call for shareholders to discuss the results is scheduled for **April 3, 2024, at 2:00 PM London time**[49](index=49&type=chunk)[50](index=50&type=chunk) [Cautionary Note Concerning Forward-Looking Information](index=4&type=section&id=Cautionary%20Note%20Concerning%20Forward-Looking%20Information) This report contains forward-looking statements regarding the company's expectations, plans, and beliefs, including production guidance, exploration plans, and the development of the Bilboes project. These statements are subject to numerous known and unknown risks and uncertainties. Factors such as commodity price fluctuations, inaccuracies in mineral reserve estimates, political risk, operational hazards, and changes in economic conditions could cause actual results to differ materially from those projected. Investors are cautioned not to place undue reliance on this information - The news release contains forward-looking information, including production guidance, future exploration plans, and the development of Bilboes[3](index=3&type=chunk)[17](index=17&type=chunk) - These statements are subject to significant risks and uncertainties, such as fluctuating gold prices, inaccurate mineral resource estimates, political risks, and operational hazards[4](index=4&type=chunk) - The company undertakes no obligation to update forward-looking information, except as required by law[4](index=4&type=chunk)