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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.£65.9m
Last close620.000p
High / Low (52 weeks)702.5p / 415.0p
Stock market listingLN, CN
Forecast net cash (US$m)14.9
Forecast gearing ratio (%)N/A
TeamResources - Mining

Price performance

Relative *(8.3)(4.7)21.4

* % Relative to local index

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