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Caledonia Mining’s largest shareholder increases stake after record production

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

Gold
Caledonia reported record full-year production from its Blanket mine in Zimbabwe

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.

Quick facts: Caledonia Mining Corporation PLC

Price: 1140 GBX

AIM:CMCL
Market: AIM
Market Cap: £138.15 m
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Caledonia Mining's Blanket Mine 'a solid performer' despite challenging quarter

Steve Curtis, chief executive of Caledonia Mining Corporation PLC (LON:CMCL, TSX:CAL), tells Proactive's Andrew Scott gold output during the three months to the end of June was marginally higher than the first quarter of 2018, in line with expectations. The Zimbabwe-focused gold miner...

on 08/10/2018

2 min read