Caledonia Mining (CMCL)

Business description

Caledonia Mining mines gold at its main operating asset, the 49%-owned Blanket gold mine in southern Zimbabwe. It is also progressing its understanding of a number of promising satellite projects close to Blanket.

Future-proofing Blanket

Outlook | Mining | 30/01/2015

Caledonia’s revised investment plan will modernise Blanket and provide sufficient mine flexibility to support a sustainable ramp-up in gold production to 76-81koz by 2021. At first glance the plan appears to suggest investing US$70m on the basis of mining inferred ore, but it is actually de-risked: the mining of higher-confidence resources and reserves covers 97% of the cost of the revised investment plan at a gold price of US$1,250/oz.

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Stock data

Market cap.£56.6m
Last close532.500p
High / Low (52 weeks)590.0p / 415.0p
Stock market listingLN, CN
Forecast net cash (US$m)17.3
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual5.523.1(8.2)
Relative *3.220.6(14.7)

* % Relative to local index

Company news