Caledonia Mining Plc(CMCL) - 2021 Q4 - Annual Report

Publication of Annual Report and Update on Mineral Resource Reporting This section outlines the 2021 Annual Report publication, the adoption of new SEC S-K 1300 standards, and subsequent mineral resource updates Adoption of New SEC Reporting Standards The company filed its 2021 Annual Report, adopting the new SEC S-K 1300 standard for technical disclosure, which differs from NI 43-101 - The company filed its Annual Report for the fiscal year ended December 31, 2021, in compliance with the new SEC S-K 1300 regulations for mining companies[2] - The new S-K 1300 standard requires reporting mineral resources exclusive of mineral reserves and on an attributable ownership basis, a method that differs from the Canadian NI 43-101 standard[3][5] - An updated NI 43-101 technical report for the Blanket Gold Mine is planned for Q3 or Q4 2022 to align data and account for recent geological information[5] Updated Mineral Resource and Reserve Estimates This section presents updated mineral resource and reserve estimates for Blanket Gold Mine, reflecting new S-K 1300 standards and attributable ownership Blanket Gold Mine - NI 43-101 Report (Previous) This section details the Blanket Gold Mine's previous mineral resources and reserves under the NI 43-101 standard on a 100% consolidated basis Blanket NI 43-101 Report Mineral Resources & Reserves (100% basis) | Category | Tonnes (Mt) | Grade (g/t) | Contained Gold (koz) | | :--- | :--- | :--- | :--- | | Mineral Resources | | | | | Measured (M) | 2.73 | 3.32 | 292 | | Indicated (I) | 5.79 | 3.27 | 610 | | Total M&I | 8.53 | 3.29 | 902 | | Inferred | 8.49 | 3.17 | 866 | | Mineral Reserves | | | | | Proven | 1.7 | 3.34 | 183 | | Probable | 3.16 | 3.39 | 345 | | Total Proven & Probable | 4.86 | 3.38 | 528 | Blanket Gold Mine - Annual Report/TRS (Current) This section presents the Blanket Gold Mine's current attributable mineral resources and reserves under the new S-K 1300 standard Blanket Annual Report/TRS Mineral Resources & Reserves (64% attributable) | Category | Tonnes (Mt) | Grade (g/t) | Contained Gold (koz) | | :--- | :--- | :--- | :--- | | Mineral Resources (excl. Reserves) | | | | | Measured (M) | 0.55 | 2.80 | 48 | | Indicated (I) | 1.59 | 2.78 | 142 | | Total M&I | 2.14 | 2.77 | 190 | | Inferred | 5.42 | 3.17 | 552 | | Mineral Reserves | | | | | Proven | 0.66 | 3.11 | 66 | | Probable | 1.75 | 3.30 | 186 | | Total Proven & Probable | 2.41 | 3.25 | 251 | - The mineral resource estimate for the Maligreen Gold Project is unchanged from the NI 43-101 report as Caledonia has 100% ownership and it is an exploration project with no mining depletion[5] - Estimates for the Blanket Gold Mine differ from the previous NI 43-101 report due to three main factors: reporting on a 64% attributable basis, accounting for mining depletion, and the new requirement to present mineral resources exclusive of mineral reserves[5] Forward-Looking Statements and Risk Factors This section provides cautionary notes on forward-looking statements and outlines key risks inherent in the mining industry - The report contains forward-looking statements, including estimates of mineral resources and reserves, which are subject to significant known and unknown risks and uncertainties[9] - Key risks include inaccurate resource estimates, gold price fluctuations, operational hazards (e.g., geological issues, power outages), political risk, geopolitical tensions, and increased costs[10] - The company clarifies that Canadian NI 43-101 standards differ from the SEC's S-K 1300, and data may not be directly comparable to that of U.S. companies[11]