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 50,351 ounces of gold in 2016 at an All in Sustaining Cost of US$952/oz. for the first 3 quarters of 2016.

The Blanket Mine re-started production in April 2009 after a temporary shut-down due to the economic difficulties in Zimbabwe. In late 2010, Blanket successfully completed an expansion project which increased production capacity from 24,000 ounces of gold per annum to 40,000 ounces of gold per annum.

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 a 4 year growth strategy for 2014 to 2017. This investment programme, which was endorsed by the Caledonia board, is estimated at US$65 million, is being funded from Blanket's internally generated cash, and is expected to result in progressive increases in gold production.

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. Cost shall go down further and important is now the completion of the central shaft.

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Data & Facts

ISIN:JE00BF0XVB15
WKN:A2DY13
FRA:9CD1
TSX:CAL
OTCQX:CALVF
AIM:CMCL
Outstanding shares: 10,553,873
Options: estimated 159,084
Fully diluted: estimated 10,712,957

Management

Institutionelle & Insider: Allan Gray 16 %
  Direktoren & Management 2,1%
   
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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