Caledonia Mining Corporation Plc (“Caledonia” or the
“Company”) (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) is
pleased to announce that the Board of Directors has declared a
quarterly dividend of 14 United States cents (US$0.14) on each of
the Company's shares.
Commenting on the announcement, Mark Learmonth, Chief
Executive Officer, said:
“In January 2022, the Company announced that it
was looking to evolve the business with a strategic pivot in the
future direction of Caledonia as it pursues its strategy to
become a multi-asset gold producer. At that time, we had recently
announced the purchase of the Maligreen claims and during the
course of the year we made significant advances in this area,
culminating in the publication of an updated technical report on
Maligreen last month1. In July, we announced that the Company had
signed an agreement to purchase Bilboes Gold Limited; and a few
months later the Company acquired Motapa Mining Company UK Limited,
the ultimate holding company of an exploration project adjacent to
Bilboes.
“This was achieved alongside three record
quarters of production and we are on track to achieve the top end
of our 2022 production guidance of between 73,000 and 80,000 ounces
of gold2. The Company has come a long way in the last 12 months as
we continue to pursue our strategy of becoming a multi asset gold
producer.”
The relevant dates relating to the dividend are
as follows:
• Ex-dividend date VFEX: January 11, 2023• Ex-dividend date AIM
and NYSE: January 12, 2023• Record date: January 13, 2023• Payment
date: January 27, 2023
Shareholders with a registered address in the UK
will be paid in Sterling.
Caledonia's Dividend
PolicyCaledonia's strategy to maximise shareholder value
includes a quarterly dividend policy which the Board adopted in
2014. The Board will consider future increases in the dividend as
appropriate in line with its prudent approach to risk
management.
Enquiries:
Caledonia Mining Corporation PlcMark
LearmonthCamilla Horsfall |
Tel: +44 1534 679 800Tel: +44 7817 841 793 |
Cenkos Securities plc (Nomad and Joint
Broker)Adrian HaddenNeil McDonaldPearl Kellie |
Tel: +44 207 397 1965Tel: +44
131 220 9771Tel: +44 131 220 9775 |
Liberum Capital Limited
(Joint Broker)Scott Mathieson/Kane Collings |
Tel: +44 20 3100 2000 |
BlytheRay Financial PR
(UK)Tim Blythe/Megan Ray |
Tel: +44 207 138 3204 |
3PPB (Financial PR, North
America)Patrick ChidleyPaul Durham |
Tel: +1 917 991 7701Tel: +1
203 940 2538 |
Curate Public Relations
(Zimbabwe)Debra Tatenda |
Tel: +263 77802131 |
IH Securities (Private)
Limited (VFEX Sponsor - Zimbabwe)Lloyd Mlotshwa |
Tel: +263 (242) 745
119/33/39 |
Note: This announcement contains inside
information which is disclosed in accordance with the Market Abuse
Regulation (EU) No. 596/2014
(“MAR”)
as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and is disclosed in accordance
with the Company's obligations under Article 17 of
MAR.
Cautionary Note Concerning
Forward-Looking InformationInformation and statements
contained in this news release that are not historical facts are
“forward-looking information” within the meaning of applicable
securities legislation that involve risks and uncertainties
relating, but not limited, to Caledonia’s current expectations,
intentions, plans, and beliefs. Forward-looking information can
often be identified by forward-looking words such as “anticipate”,
“believe”, “expect”, “goal”, “plan”, “target”, “intend”,
“estimate”, “could”, “should”, “may” and “will” or the negative of
these terms or similar words suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions
or statements about future events or performance. Examples of
forward-looking information in this news release include:
production guidance, estimates of future/targeted production rates,
and our plans and timing regarding further exploration and drilling
and development. This forward-looking information is based, in
part, on assumptions and factors that may change or prove to be
incorrect, thus causing actual results, performance or achievements
to be materially different from those expressed or implied by
forward-looking information. Such factors and assumptions include,
but are not limited to: failure to establish estimated resources
and reserves, the grade and recovery of ore which is mined varying
from estimates, success of future exploration and drilling
programs, reliability of drilling, sampling and assay data,
assumptions regarding the representativeness of mineralization
being inaccurate, success of planned metallurgical test-work,
capital and operating costs varying significantly from estimates,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the
development of projects and other factors.
Security holders, potential security holders and
other prospective investors should be aware that these statements
are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from
those suggested by the forward-looking statements. Such factors
include, but are not limited to: risks relating to estimates of
mineral reserves and mineral resources proving to be inaccurate,
fluctuations in gold price, risks and hazards associated with the
business of mineral exploration, development and mining, risks
relating to the credit worthiness or financial condition of
suppliers, refiners and other parties with whom the Company does
business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards, employee relations; relationships
with and claims by local communities and indigenous populations;
political risk; risks related to natural disasters, terrorism,
civil unrest, public health concerns (including health epidemics or
outbreaks of communicable diseases such as the coronavirus
(COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining or
maintaining necessary licenses and permits, diminishing quantities
or grades of mineral reserves as mining occurs; global financial
condition, the actual results of current exploration activities,
changes to conclusions of economic evaluations, and changes in
project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs,
environmental, safety or regulatory risks, expropriation, the
Company’s title to properties including ownership thereof,
increased competition in the mining industry for properties,
equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production
rate increase and currency fluctuations. Security holders,
potential security holders and other prospective investors are
cautioned not to place undue reliance on forward-looking
information. By its nature, forward-looking information involves
numerous assumptions, inherent risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections and various future events will
not occur. Caledonia undertakes no obligation to update publicly or
otherwise revise any forward-looking information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
This news release is not an offer of the shares
of Caledonia for sale in the United States or elsewhere. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the shares of
Caledonia, in any province, state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such province, state
or jurisdiction.
1 Refer to technical
report entitled "Caledonia Mining Corporation Plc Updated NI
43-101 Mineral Resource Report on the Maligreen Gold
Project, Zimbabwe dated November 3,
2022 prepared by Minxcon (Pty) Ltd and filed on
SEDAR (www.sedar.com) on November 7, 2022.2 Refer to the
technical report entitled “Caledonia Mining Corporation Plc NI
43-101 Technical Report on the Blanket Gold Mine, Zimbabwe” dated
May 17, 2021 prepared by Minxcon (Pty) Ltd and filed by the Company
on SEDAR on May 26, 2021.Mr Dana Roets (B Eng (Min.), MBA, Pr.Eng.,
FSAIMM, AMMSA), Chief Operating Officer, is the Company's qualified
person as defined by Canada's National Instrument 43-101 and has
approved any scientific or technical information contained in this
news release.
Caledonia Mining (AMEX:CMCL)
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Caledonia Mining (AMEX:CMCL)
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