http://www.proactiveinvestors.com Proactiveinvestors RSS feed en Sat, 23 Jun 2018 16:00:52 -0400 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Notice of Posting of AGM Materials ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180531070002_13660650/ Thu, 31 May 2018 02:00:02 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180531070002_13660650/ <![CDATA[RNS press release - Results for the Quarter ended 31 March 2018 ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180514070006_13638960/ Mon, 14 May 2018 02:00:06 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180514070006_13638960/ <![CDATA[RNS press release - Quarterly Production Update ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180409082518_13596040/ Mon, 09 Apr 2018 03:25:18 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180409082518_13596040/ <![CDATA[Media files - Caledonia Mining to see substantial earnings increase from Zimbabwe tax boost ]]> http://www.proactiveinvestors.com/companies/stocktube/8992/caledonia-mining-to-see-substantial-earnings-increase-from-zimbabwe-tax-boost-8992.html Wed, 04 Apr 2018 14:11:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/8992/caledonia-mining-to-see-substantial-earnings-increase-from-zimbabwe-tax-boost-8992.html <![CDATA[RNS press release - Increase to Zimbabwean Export Credit Incentive ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180404070003_13590493/ Wed, 04 Apr 2018 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180404070003_13590493/ <![CDATA[RNS press release - Caledonia declares quarterly dividend ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180403070010_13588443/ Tue, 03 Apr 2018 02:00:10 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180403070010_13588443/ <![CDATA[Media files - Caledonia Mining in early talks to increase stake in Blanket mine ]]> http://www.proactiveinvestors.com/companies/stocktube/8932/caledonia-mining-in-early-talks-to-increase-stake-in-blanket-mine Thu, 22 Mar 2018 17:49:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/8932/caledonia-mining-in-early-talks-to-increase-stake-in-blanket-mine <![CDATA[News - Caledonia Mining’s largest shareholder increases stake after record production ]]> http://www.proactiveinvestors.com/companies/news/193640/caledonia-minings-largest-shareholder-increases-stake-after-record-production-193640.html Caledonia Mining Corporation PLC (LON:CMCL) said its largest shareholder has increased its stake in the company to just over 20% of the shares in issue.

The mining and exploration company said the stakeholder – African investment company Allan Gray – now holds a total of 2,130,668 shares.

READ: Caledonia Mining achieves new production record at Blanket gold mine

The news comes after Caledonia reported record production from its Blanket mine in Zimbabwe in its full-year results, with 56,133 ounces of gold unearthed, an 11.5% increase from the previous year.

The company also reported gross profits of US$26.32mln, up from US$23.49mln previously.

Shares in Caledonia Mining were steady in mid-afternoon trading at 512.5p.

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Thu, 22 Mar 2018 13:37:00 -0400 http://www.proactiveinvestors.com/companies/news/193640/caledonia-minings-largest-shareholder-increases-stake-after-record-production-193640.html
<![CDATA[RNS press release - Notification of relevant change to shareholder ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180322130001_13577733/ Thu, 22 Mar 2018 09:00:01 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180322130001_13577733/ <![CDATA[News - Caledonia Mining achieves new production record at Blanket gold mine ]]> http://www.proactiveinvestors.com/companies/news/193530/caledonia-mining-achieves-new-production-record-at-blanket-gold-mine-193530.html Caledonia Mining Corporation PLC (LON:CMCL) told investors it achieved a new production record at the Blanket mine in Zimbabwe where it unearthed 56,133 ounces of gold during 2017, some 11.5% more than in the preceding year.

The company, in financial results for the year, reported an average gold price of US$1,243 per ounce (up from US$1,232 in the year before) and it said gross profit amounted to US$26.32mln, up from US$23.49mln.

READ: Caledonia Mining started with 'buy' at broker Cantor as Blanket continues ramp up

Net profit was reported at US$9.38mln, with adjusted earnings per share confirmed at 135.4p per share for the 12 months ended December 31.

At the end of the year, Caledonia had US$12.75mln of cash and equivalents, having generated some US$24.5mln in the 12 months.

"I'm delighted to report that production for the year was a new record: the 56,133 ounces of gold produced in 2017 being 11.5 per cent higher than in 2016,” said Steve Curtis, Caledonia chief executive.

“The production difficulties which we encountered in the first half of the year were identified and addressed and it was pleasing to see that these remedial measures resulted in Blanket achieving consecutive production records in the third and fourth quarters of the year.”

"In addition to increased production, we have also reduced our unit costs: Caledonia's AISC per ounce for the year was $847 per ounce - seven per cent lower than in 2016. The combination of increased production and lower costs and a small increase in the gold price resulted in a 14 per cent increase in profit attributable to shareholders.”

Curtis added: “There were some significant political developments in Zimbabwe towards the end of 2017 which culminated in the appointment of the new President. 

“The new President has made several pronouncements regarding a relaxation in the indigenisation policy and specifically the removal of the indigenisation requirement for gold mining companies.”

He highlighted that the company now intended to proceed with a funding process to raise US$4mln which will fund exploration and it will, assuming indigenous investors don’t acquire new shares, see the company’s stake in Blanket increase above 50%.

Options on indigenous stakeholders

The company is also said to be considering options to acquire stakes from certain indigenous stakeholders, to further increase its direct ownership of the mine.

"I wholeheartedly welcome the change in legislation which means that Caledonia can commit new capital so that Blanket can commence exploration and evaluations of additional projects in Zimbabwe,” Curtis said.

“If this investment is successful it will benefit all stakeholders, including Blanket's indigenous shareholders, future employees on the new projects, the communities around the new projects and the government of Zimbabwe which would benefit from increased royalty and tax receipts and greater inflows of foreign exchange arising from increased gold production.”

Caledonia is described, by Curtis, as being ‘highly cash generative” at present levels (55,000 ounces per year) and he is confident that this will improve further as the Blanket operation is expanded up to a rate of 80,000 ounces per year by 2021.

“Once the Investment Plan is completed towards the end of 2020, we expect to have substantial free cash flows to deploy elsewhere. Against this background, there are very encouraging political developments in Zimbabwe which we are optimistic will create new investment opportunities,” Curtis added.

In afternoon trading, Caledonia Mining shares were 0.5% higher at 512.5p.

 -- Adds share price --

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Wed, 21 Mar 2018 08:12:00 -0400 http://www.proactiveinvestors.com/companies/news/193530/caledonia-mining-achieves-new-production-record-at-blanket-gold-mine-193530.html
<![CDATA[RNS press release - Results for Q4 and Year ended December 31, 2017 ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180321070004_13574682/ Wed, 21 Mar 2018 03:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20180321070004_13574682/ <![CDATA[News - Caledonia expresses sincere condolences after fatality, closes section of Blanket mine ]]> http://www.proactiveinvestors.com/companies/news/192166/caledonia-expresses-sincere-condolences-after-fatality-closes-section-of-blanket-mine-192166.html Caledonia Mining Corporation PLC (LON:CMCL) has expressed its sincere condolences after a fatal accident at its Blanket gold mine in Zimbabwe on February 23.

The accident occurred in the Blanket Quartz Reef area of the mine.

Caledonia has notified the Minister of Mines and Mining Development and the Inspector of Mines and will provide all the necessary assistance to the Ministry of Mines Inspectorate Department in its enquiry into this incident.

Production in the section has stopped pending an investigation.

Until such a time as the outcome of this enquiry has been reached, no further details can be released.

The directors and management of Caledonia and Blanket have expressed their sincere condolences to the family and colleagues of the deceased.

"It is with great sadness that we announce a fatal accident at Blanket Mine during the night shift on the 23rd of February,” said chief executive Steve Curtis.

“I join with all of my colleagues and fellow directors in expressing our sincere condolences to the family and friends of the deceased."

 

 

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Mon, 26 Feb 2018 08:20:00 -0500 http://www.proactiveinvestors.com/companies/news/192166/caledonia-expresses-sincere-condolences-after-fatality-closes-section-of-blanket-mine-192166.html
<![CDATA[RNS press release - Accident at Blanket Mine ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180226070005_13544970/ Mon, 26 Feb 2018 02:00:05 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20180226070005_13544970/ <![CDATA[News - Caledonia Mining started with 'buy' at broker Cantor as Blanket continues ramp up ]]> http://www.proactiveinvestors.com/companies/news/191068/caledonia-mining-started-with-buy-at-broker-cantor-as-blanket-continues-ramp-up-191068.html City broker Cantor has started covering Zimbabwe-based gold miner Caledonia Mining Corporation PLC (LON:CMCL,TSX:CAL) with a 'buy' stance and 989p target price (current price:530p).

Earlier this month, the firm released details of another record quarter at the 49%-owned Blanket mine.

WATCH: Caledonia Mining's Blanket Mine continuing to punch above its weight

Production was 16,425 ounces of gold in the three months to December, 14% more than the previous quarter and 21% higher than a year ago.

For 2017 as a whole, production was 11% higher than the previous year at 56,135 ounces, which was just ahead of guidance and also a yearly record for Blanket.

Caledonia (CAL) and its Zimbabwean partners are now more than three years into the self-funded investment plan at the Blanket mine which should result in a circa 75% expansion in annual production versus 2017 to circa 80,000 ounces and a corresponding 25% reduction in all sustaining costs to around US$750 per ounce, notes Cantor's mining analyst Asa Bridle.

"The production gains are based on a significant overhaul and expansion of the mine’s underground infrastructure which will see the operation access new ore at deeper levels to supply the underutilised processing plant," he notes.

The analyst also points to the fact that the Caledonia growth story should also attract income investors, it having been a dividend payer for nearly five years.

"Most impressively, CAL has been able to maintain and increase its quarterly dividend payments despite the capital commitment to the expansion programme at the Blanket mine," he says.

Finally, Bridle is seemingly unruffled by the political situation in Zimbabwe.

READ: Caledonia Mining notches consecutive records at Blanket gold mine in Zimbabwe

The country, he says, "must be viewed as a high sovereign risk jurisdiction but the demise of the Mugabe regime last November at least gives a fresh opportunity for recovery".

He says the firm has made itself of strategic importance to Zimbabwe as a major employer in its region, dollar earner and tax payer.

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Fri, 02 Feb 2018 11:54:00 -0500 http://www.proactiveinvestors.com/companies/news/191068/caledonia-mining-started-with-buy-at-broker-cantor-as-blanket-continues-ramp-up-191068.html
<![CDATA[Media files - Caledonia Mining's Blanket Mine continuing to punch above its weight ]]> http://www.proactiveinvestors.com/companies/stocktube/8617/caledonia-mining-s-blanket-mine-continuing-to-punch-above-its-weight-8617.html Mon, 15 Jan 2018 14:26:00 -0500 http://www.proactiveinvestors.com/companies/stocktube/8617/caledonia-mining-s-blanket-mine-continuing-to-punch-above-its-weight-8617.html <![CDATA[News - Caledonia Mining notches consecutive records at Blanket gold mine in Zimbabwe ]]> http://www.proactiveinvestors.com/companies/news/190004/caledonia-mining-notches-consecutive-records-at-blanket-gold-mine-in-zimbabwe-190004.html Zimbabwe-based gold miner Caledonia Mining Corporation PLC (LON:CMCL TSX:CAL) has racked up another record quarter at the Blanket mine.

Production at the 49% owned mine totalled 16,425 ounces of gold in the three months to December, 14% more than the previous quarter and 21% higher than a year ago.

For 2017 in total, production was 11% higher than the previous year at 56,135 ounces, which was just ahead of guidance and also a yearly record for Blanket. 

Steve Curtis, chief executive, said: “Full year production of 56,135 ounces for 2017 is a significant achievement especially when considering the relatively slow production we experienced in the first half of the year.

“To finish the second half of the year with two quarterly production records and the production of almost 31,000 ounces of gold in the six month period is an achievement of which all of our technical and production staff should be justifiably proud.

Caledonia is undertaking a major upgrade at Blanket to boost production to production to 80,000 ounces by 2021.

In the current year, Blanket is scheduled to produce between 55,000 and 59,000oz.

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Mon, 15 Jan 2018 07:54:00 -0500 http://www.proactiveinvestors.com/companies/news/190004/caledonia-mining-notches-consecutive-records-at-blanket-gold-mine-in-zimbabwe-190004.html
<![CDATA[RNS press release - Record quarterly and annual gold production ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180115070004_13495577/ Mon, 15 Jan 2018 02:00:04 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20180115070004_13495577/ <![CDATA[News - Caledonia declares regular quarterly dividend as production guidance stays at around 55,000 ounces ]]> http://www.proactiveinvestors.com/companies/news/189382/caledonia-declares-regular-quarterly-dividend-as-production-guidance-stays-at-around-55000-ounces-189382.html Tue, 02 Jan 2018 08:15:00 -0500 http://www.proactiveinvestors.com/companies/news/189382/caledonia-declares-regular-quarterly-dividend-as-production-guidance-stays-at-around-55000-ounces-189382.html <![CDATA[RNS press release - Caledonia declares quarterly dividend ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20180102070004_13481269/ Tue, 02 Jan 2018 02:00:04 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20180102070004_13481269/ <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171201070007_13450325/ Fri, 01 Dec 2017 02:00:07 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20171201070007_13450325/ <![CDATA[Media files - Miners keeping close watch on army takeover in Zimbabwe ]]> http://www.proactiveinvestors.com/companies/stocktube/8369/miners-keeping-close-watch-on-army-takeover-in-zimbabwe-8369.html Wed, 15 Nov 2017 13:27:00 -0500 http://www.proactiveinvestors.com/companies/stocktube/8369/miners-keeping-close-watch-on-army-takeover-in-zimbabwe-8369.html <![CDATA[Media files - Caledonia Mining's Blanket mine still has a lot of life left in it yet, says CEO Curtis ]]> http://www.proactiveinvestors.com/companies/stocktube/8366/caledonia-mining-s-blanket-mine-still-has-a-lot-of-life-left-in-it-yet-says-ceo-curtis-8366.html Tue, 14 Nov 2017 15:36:00 -0500 http://www.proactiveinvestors.com/companies/stocktube/8366/caledonia-mining-s-blanket-mine-still-has-a-lot-of-life-left-in-it-yet-says-ceo-curtis-8366.html <![CDATA[News - Caledonia boosts production and revenues at Blanket gold mine ]]> http://www.proactiveinvestors.com/companies/news/187139/caledonia-boosts-production-and-revenues-at-blanket-gold-mine-187139.html Revenues from gold production at the Blanket gold mine in Zimbabwe rose to over US$18.2 mln in the third quarter, up from the US$17.6 mln generated in the corresponding period a year ago, according to operator and major shareholder Caledonia Mining Corporation PLC (LON:CMCL).

Pre-tax profit rose to US$6.2 mln, up from US$4.1 mln a year ago.

READ: Caledonia Mining to extend central shaft at Blanket mine after resource upgrade

"Gold production in the quarter achieved a new record:  14,396 ounces of gold were produced in the third quarter - seven per cent more than the third quarter of 2016 and 15 per cent more than in the preceding quarter,” said chief executive Steve Curtis. 

READ: Caledonia Mining ups resources at Blanket mine for sixth successive year

“The increased production was primarily due to higher grades, which was due to the improved mine flexibility as a result of the measures taken in previous quarters. The higher gold production resulted in higher revenues and a substantial increase in profit.  Net profit attributable to shareholders in the quarter was US$3.1 million - almost three times higher than the third quarter of 2016 and over four times higher than the preceding quarter.”

 

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Mon, 13 Nov 2017 08:24:00 -0500 http://www.proactiveinvestors.com/companies/news/187139/caledonia-boosts-production-and-revenues-at-blanket-gold-mine-187139.html
<![CDATA[RNS press release - Information relating to significant shareholder ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171113070005_13428557/ Mon, 13 Nov 2017 02:00:05 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20171113070005_13428557/ <![CDATA[RNS press release - Results for the Third Quarter ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171113070003_13428493/ Mon, 13 Nov 2017 02:00:03 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20171113070003_13428493/ <![CDATA[News - Caledonia Mining to extend central shaft at Blanket mine after resource upgrade ]]> http://www.proactiveinvestors.com/companies/news/187064/caledonia-mining-to-extend-central-shaft-at-blanket-mine-after-resource-upgrade-187064.html Caledonia Mining Corporation PLC (LON:CMCL, NYSE:CMCL) has potentially secured the future of its Blanket mine in Zimbabwe for the next 20 years by opting to extend the central shaft on site to greater depths.

It comes on the back of the recent resource upgrade, which underlined potential volume and grade at depth.

READ: Caledonia Mining ups resources at Blanket mine for sixth successive year

Total measured and indicated gold ounces now amount to 714,000 ounces compared to 671,000 ounces at the end of 2016, the company said last week.

The central shaft is currently under construction, and will now be extended by a further 250 metres to a depth of 1,330 metres and fully commissioned by the end of the first quarter of 2020, the mining group said.

"The Central Shaft is already a transformational project for our business, and to extend the project an additional 250 metres in depth including development on 34 and 38 levels will potentially secure Blanket's operating future for the next 20 years taking exploration potential into account," said Steve Curtis, chief executive at Caledonia.

"It is significantly cheaper to continue the shaft sinking while we are in the construction phase of the project rather than to deepen a fully commissioned and operational shaft in several years' time," he added.

"The creation of an additional two levels will also increase the mining flexibility and further de-risk the target production of 80,000 ounces per annum from 2021."

The extension and associated capital development of additional production levels will cost around US$18mln to be funded by Blanket's internal cash generation.

READ: Caledonia Mining expecting strong finish to 2017 after record quarter

A preliminary economic assessment (PEA) indicates a project NPV (net present value) over the life of mine (LOM) of US$193mln based on a gold price of US$1,260/ounce and a 10% discount rate.

Total output from the measured and indicated resources over the life of the mine is expected to be around 420,000 ounces and production from inferred resources is expected to be around 550,000 to 600,000 ounces between 2018 and 2031.

Caledonia expects that its long term All-In Sustaining Cost (AISC) guidance is expected to remain in the range of US$700 to US$800 per ounce.

Notably, the indicated resource below 30 level of 37,000 ounces justifies as a standalone project alone the investment of US$18mln for the shaft deepening and the additional two production levels.

Caledonia said it had also started a mid-shaft loading system at Blanket using the existing Central Shaft infrastructure to handle development waste to improve handling capacity and alleviate pressure on Number 4 shaft.

Caledonia owns 49% of the Blanket mine.

Shares in London added 0.72% to 418p

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Fri, 10 Nov 2017 07:32:00 -0500 http://www.proactiveinvestors.com/companies/news/187064/caledonia-mining-to-extend-central-shaft-at-blanket-mine-after-resource-upgrade-187064.html
<![CDATA[RNS press release - Extension of Central Shaft Project ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171110070003_13426998/ Fri, 10 Nov 2017 02:00:03 -0500 http://www.proactiveinvestors.com/companies/rns/156/LSE20171110070003_13426998/ <![CDATA[News - Caledonia Mining ups resources at Blanket mine for sixth successive year ]]> http://www.proactiveinvestors.com/companies/news/186632/caledonia-mining-ups-resources-at-blanket-mine-for-sixth-successive-year-186632.html Caledonia Mining Corporation PLC (LON:CMCL) has raised its estimate of the mineable gold at Blanket in Zimbabwe by 6%, an upgrade that might extend the mine’s life.

Steve Curtis, chief executive, said the improvement underscored the overall confidence level in Blanket's resources.

WATCH: Caledonia Mining expecting strong finish to 2017 after record quarter

Total measured and indicated gold ounces now amount to 714,000 ounces compared to 671,000 ounces at the end of 2016.

Curtis added the miner is modifying the life-of-mine plan at Blanket to include the additional ounces where possible with a view to extending its life.

Caledonia owns 49% of the mine and is midway through a major expansion that includes a new central shaft.

There was a slight reduction in the average grade to 3.98g/t from 4.31g/t, but this grade remains well above what is being processed currently.

READ: Caledonia Mining Corporation on schedule with Blanket ramp up

Inferred resources, a less certain classification, rose by 47% to 887,000oz or 5.53mln tonnes at a grade of 4.99g/t.

The miner added resources at Blanket have now risen for six sixth successive years since 2011 even though over 250,000oz of gold had been dug out during this period.

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Thu, 02 Nov 2017 07:47:00 -0400 http://www.proactiveinvestors.com/companies/news/186632/caledonia-mining-ups-resources-at-blanket-mine-for-sixth-successive-year-186632.html
<![CDATA[RNS press release - Resource Update ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171102070004_13417534/ Thu, 02 Nov 2017 03:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20171102070004_13417534/ <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171006070003_13388120/ Fri, 06 Oct 2017 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20171006070003_13388120/ <![CDATA[Media files - Caledonia Mining expecting strong finish to 2017 after record quarter ]]> http://www.proactiveinvestors.com/companies/stocktube/8198/caledonia-mining-expecting-strong-finish-to-2017-after-record-quarter-8198.html Thu, 05 Oct 2017 19:15:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/8198/caledonia-mining-expecting-strong-finish-to-2017-after-record-quarter-8198.html <![CDATA[News - Caledonia Mining announces record quarterly gold production from Blanket Mine in Zimbabwe, raises 2017 guidance ]]> http://www.proactiveinvestors.com/companies/news/185095/caledonia-mining-announces-record-quarterly-gold-production-from-blanket-mine-in-zimbabwe-raises-2017-guidance-185095.html Caledonia Mining Corporation PLC (LON:CMCL) has announced record quarterly gold production from the Blanket Mine in Zimbabwe for the quarter ended 30 September  2017.

In a statement, the AIM-listed firm said approximately 14,389 ounces of gold were produced during the quarter, 15% higher than the previous quarter and 7% higher than the corresponding quarter of 2016.

WATCH: Caledonia Mining expecting strong finish to 2017 after record quarter

The group added that the improvement in production in the third quarter is expected to continue into the fourth quarter. 

As a result, the company has narrowed the range of its 2017 production guidance from 52,000 to 57,000 ounces to a range of between 54,000 and 56,000 ounces.

Caledonia said it remains on track to achieve its production target of 80,000 ounces in 2021.

READ: Caledonia Mining maintains dividend guidance for 2017

Commenting on the production report, Steve Curtis, Caledonia’s chief executive officer, said: "The first half of 2017 presented Caledonia with some significant operating challenges which adversely affected production. 

“In May 2017 it was announced that our technical team was implementing various remedial measures aimed at alleviating the operating challenges and improving the reliability of our underground infrastructure.”

He added: “I am pleased to confirm that these measures implemented in the last three months have had the desired effect and have resulted in an improvement in both tonnage and grade at Blanket with associated higher production for the Quarter.”

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Thu, 05 Oct 2017 07:39:00 -0400 http://www.proactiveinvestors.com/companies/news/185095/caledonia-mining-announces-record-quarterly-gold-production-from-blanket-mine-in-zimbabwe-raises-2017-guidance-185095.html
<![CDATA[RNS press release - Record Gold Production in Q3 2017 ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171005070004_13386565/ Thu, 05 Oct 2017 02:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20171005070004_13386565/ <![CDATA[RNS press release - Caledonia declares quarterly dividend ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20171003070004_13383420/ Tue, 03 Oct 2017 02:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20171003070004_13383420/ <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170911103037_13358181/ Mon, 11 Sep 2017 05:30:37 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170911103037_13358181/ <![CDATA[RNS press release - Notification of significant shareholder ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170908070003_13356031/ Fri, 08 Sep 2017 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170908070003_13356031/ <![CDATA[RNS press release - Correction to notification-significant shareholder ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170906122634_13353746/ Wed, 06 Sep 2017 07:26:34 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170906122634_13353746/ <![CDATA[RNS press release - Notification of change to significant shareholder ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170905070004_13351610/ Tue, 05 Sep 2017 02:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170905070004_13351610/ <![CDATA[RNS press release - Exercise of share options ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170823095735_13339253/ Wed, 23 Aug 2017 04:57:35 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170823095735_13339253/ <![CDATA[Media files - Caledonia Mining optimistic despite challenging second quarter ]]> http://www.proactiveinvestors.com/companies/stocktube/7926/caledonia-mining-optimistic-despite-challenging-second-quarter-7926.html Tue, 15 Aug 2017 08:03:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/7926/caledonia-mining-optimistic-despite-challenging-second-quarter-7926.html <![CDATA[News - Caledonia Mining maintains dividend guidance for 2017 ]]> http://www.proactiveinvestors.com/companies/news/182370/caledonia-mining-maintains-dividend-guidance-for-2017-182370.html Caledonia Mining Corporation PLC (LON:CMCL) produced just over 25,000 ounces of gold in the first half of 2017, at an all-in sustaining cost of US$856 per ounce.

However, on-mine costs per ounce did rise as grades fell and certain logistical constraints underground restricted output.

Operating cash flow during the second quarter of the year amounted to US$4.7 mln.

WATCH: Caledonia Mining optimistic despite challenging second quarter

It’s envisaged that the current dividend of US$0.275 cents per annum will be maintained.

“We remain confident of achieving our 2017 full year guidance of between 52,000 and 57,000 ounces,” said chief executive Steve Curtis.

The company remains on track to boost production to 80,000 ounces per year by 2021.

READ: Caledonia Mining Corporation on schedule with Blanket ramp up

 

 

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Mon, 14 Aug 2017 08:18:00 -0400 http://www.proactiveinvestors.com/companies/news/182370/caledonia-mining-maintains-dividend-guidance-for-2017-182370.html
<![CDATA[RNS press release - Retirement of non-executive director ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170814073001_13328569/ Mon, 14 Aug 2017 02:30:01 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170814073001_13328569/ <![CDATA[RNS press release - Results for Second Quarter and First Half of 2017 ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170814070003_13328210/ Mon, 14 Aug 2017 02:00:03 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170814070003_13328210/ <![CDATA[RNS press release - Shares to commence trading on the NYSE American ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170724070004_13304253/ Mon, 24 Jul 2017 02:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170724070004_13304253/ <![CDATA[News - Caledonia Mining Corporation on schedule with Blanket ramp up ]]> http://www.proactiveinvestors.com/companies/news/181234/caledonia-mining-corporation-on-schedule-with-blanket-ramp-up-181234.html Caledonia Mining Corporation PLC's (LON:CMCL TSE:CAL) Blanket gold mine which has been in operation for many years, has managed to ride out the complexities of the Zimbabwean political situation relatively unscathed.

In large part that’s due to the indigenisation deal that Caledonia struck some years ago with local businessmen, with its own workers, and with other community groups.

WATCH: Caledonia Mining confident of hitting full year production targets

Under the terms of that deal, Caledonia retains operational control of Blanket and ownership of 49% of it.

The terms of sale of the 51% stake stipulated that the company would be paid back out of cash flow from the mine itself, and on very commercial terms.

Accordingly, as with all the best deals, all parties felt that they came out of it well, and the company’s ability to operate in Zimbabwe has never been seriously in jeopardy.

Digging deeper

In recent years the concerns have been more about how to operate Blanket to maximum efficiency.

To that end the company has embarked on a heavy investment programme, the benefits of which are just beginning to show through.

Thus, a new tramming loop has been installed at the 750 metre level, allowing for the more efficient distribution of ore around the underground network of tunnels before it is brought to the surface for processing.

READ: Caledonia declares regular quarterly dividend as production guidance stays at around 55,000 ounces

In addition, the company is also working on new shafts to increase the amount of ore it can haul to surface at any one time.

All told, the plan is to boost output in the longer term to more than 80,000 ounces per year by 2021.

Second half of 2017 much stronger

For 2017 in total, production was 11% higher than the previous year at 56,135 ounces, which was just ahead of guidance and also a yearly record for Blanket. 

Steve Curtis, chief executive, said the performance represented a significant achievement considering the relatively slow production experienced in the first half of the year.

“To finish the second half of the year with two quarterly production records and the production of almost 31,000 ounces of gold in the six month period is an achievement of which all of our technical and production staff should be justifiably proud.

In the current year, Blanket is scheduled to produce between 55,000 and 59,000oz.

The miner produced approximately 25,316oz inthe first half or about an 8% increase.

 

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Thu, 20 Jul 2017 15:19:00 -0400 http://www.proactiveinvestors.com/companies/news/181234/caledonia-mining-corporation-on-schedule-with-blanket-ramp-up-181234.html
<![CDATA[Media files - Caledonia Mining confident of hitting full year production targets ]]> http://www.proactiveinvestors.com/companies/stocktube/7818/caledonia-mining-confident-of-hitting-full-year-production-targets-7818.html Thu, 20 Jul 2017 12:10:00 -0400 http://www.proactiveinvestors.com/companies/stocktube/7818/caledonia-mining-confident-of-hitting-full-year-production-targets-7818.html <![CDATA[News - Caledonia Mining Corporation expects production uptick in second half ]]> http://www.proactiveinvestors.com/companies/news/181195/caledonia-mining-corporation-expects-production-uptick-in-second-half-181195.html Caledonia Mining Corporation PLC (LON:CMCL TSE:CAL) expects to meet its gold production target this year through an improved second half performance.

The Zimbabwe-based miner produced approximately 12,522 ounces of gold from the Blanket mine in the three months to June, about the same amount as a year ago.

Over the half year, output rose by 8.5% to 25,316oz, but Caledonia expects output to rise over the next two quarters.

The target for the year is for production to be between 52,000oz and 57,000oz and to hit 80,000oz by 2021.

Caledonia is digging out a new central shaft at Blanket and operating challenges of combining production with this ongoing underground development affected the first half even though output increased.

Steve Curtis, Caledonia's chief executive, said infrastructure constraints at the 750 metre level had affected its ability to move the larger amounts of ore and development waste.

To deal with that, Caledonia prioritised capital development tonnage over ore production tonnage during the second quarter. 

"The existing infrastructure constraints at Blanket are temporary and are expected to be fully alleviated when the new Central Shaft is commissioned in the second half of 2018.” 

Measures to alleviate the short-term infrastructure constraints should result in a higher quarterly production in the remaining quarters of 2017, Curtis added.

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Thu, 20 Jul 2017 07:42:00 -0400 http://www.proactiveinvestors.com/companies/news/181195/caledonia-mining-corporation-expects-production-uptick-in-second-half-181195.html
<![CDATA[RNS press release - Q2 2017 Production Update ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170720070004_13301223/ Thu, 20 Jul 2017 02:00:04 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170720070004_13301223/ <![CDATA[News - Caledonia reports fatality at Blanket ]]> http://www.proactiveinvestors.com/companies/news/180594/caledonia-reports-fatality-at-blanket-180594.html Caledonia Mining Corporation PLC (LON:CMCL) has announced a fatality at the Blanket gold mine in Zimbabwe in a mining-related accident that occurred on 7 July 2017.

The accident occurred in number 6 shaft area of the mine.

Management has notified the Minister of Mines and Mining Development and the Inspector of Mines and will provide all the necessary assistance to the Ministry of Mines Inspectorate Department in its enquiry into this incident.

The company said that until such a time as the outcome of this enquiry has been reached, no further details could be released.

The directors and management of Caledonia and Blanket have expressed their sincere condolences to the family and colleagues of the deceased.

"We take the safety of our employees very seriously at Blanket so we are very disappointed with this fatality,” said chief executive officer Steve Curtis.

“I join with my colleagues in expressing our sincere condolences to the family, colleagues and friends of the deceased".

 

 

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Mon, 10 Jul 2017 08:37:00 -0400 http://www.proactiveinvestors.com/companies/news/180594/caledonia-reports-fatality-at-blanket-180594.html
<![CDATA[RNS press release - Accident at Blanket Mine ]]> http://www.proactiveinvestors.com/companies/rns/156/LSE20170710075802_13289026/ Mon, 10 Jul 2017 02:58:02 -0400 http://www.proactiveinvestors.com/companies/rns/156/LSE20170710075802_13289026/