Caledonia Mining Corp.

Caledonia is an exploration, development and mining company focused on Southern Africa. Caledonia's primary asset is a 49% interest in the Blanket Mine in Zimbabwe which produced over 42,000 ounces of gold in 2015 at AISC of US$1,038/oz. The company pays a quarterly dividend which they raised in Jul 2016 to 1.375 USD-Cents which is equal to 8 CAD-Cents and gives an annual yield around 5% for the share. The production shall rise in 2016 to 50,000 oz Gold and in 2017 further on to approx. 60.000 oz Gold which will lead to further falling costs. As an indigenised entity, Blanket can implement its long term growth strategy. The Blanket board, which includes representatives of the Indigenous Zimbabwean shareholders, approved a capital investment programme for 2013 and a 4 year growth strategy for 2014 to 2017. This investment programme, which was endorsed by the Caledonia Board, is estimated at US$37 million, will be funded from Blanket's internally generated cash, and is expected to result in progressive increases in gold production. Blanket is engaged in the exploration of the down-dip extensions of the known ore bodies and the first two out of a total of 18 satellite exploration projects which are within trucking distance of the Blanket metallurgical recovery plant.

Company Objectives

After the 22% increase of the dividend in July 2016 they want to raise the dividend in the future too through. Falling fix costs through a rising production help a lot and also they optimize the production process further. The production targets for 2016 with 50,000 ounces and in 2017 with 60,000 ounces Gold shall be achievable.


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Data & Facts

Outstanding shares: 52.260.946
Options: 795.420
Fully diluted: 53,056,366


Institutionelle & Insider: Allan Gray 13,5 %
  Direktoren & Management 1,5%
Head office: Caledonia Mining Corporation
  43-45 La Motte Street
  Jersey, Channel Islands JE4 8SD
Management: Steve Curtis - Chief Executive Officer
  Mark Learmonth - CFO
  Dana Roets B.Sc. - Chief Operating Officer
  Maurice Mason - VP, Corporate Development
  Caxton Mangezi - General Manager & Director, Blanket Mine

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