Caledonia Mining mulls listing on Zimbabwe's Victoria Falls Stock Exchange
Published: 02:29 08 Jul 2021 EDT
Caledonia Mining Corporation PLC (LON:CMCL) told investors it is considering a listing on the Victoria Falls Stock Exchange (VFEX) in Zimbabwe to reinforce its commitment to the country that hosts the Blanket gold mine.
Having a listing in Zimbabwe will make it easier for Caledonia's and Blanket's employees to participate as shareholders, the company noted. It will come alongside a US$3mln equity raise with investors in Zimbabwe, to satisfy the requirements for local shareholder spread.
The company said the VFEX listing will be conditional on general market appetite and confirmation the necessary mechanisms are in place to benefit from a listing. Benefits include improved payments in US dollars for gold produced at Blanket.
Chief executive Steve Curtis said in a statement: “I welcome the step towards a more liberal financial environment which is embodied in the proposed benefits attaching to a listing on the Victoria Falls Stock Exchange."
