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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.

2015 pivotal to Blanket's growth

Update | Mining | 01/04/2015

Caledonia’s FY14 results reflect a challenging period for the Blanket mine. Subdued grades and limitations imposed by infrastructure have led the company to re-invigorate the operation via a substantial US$70m investment programme (funded from cash-flow). This investment has already started, with the goal to lift production to 70-75koz by 2021, and provide for greater flexibility in mining at Blanket. FY15 will be the first full year of production under the new plan and a realistic 42koz production target has been set as expansion gathers pace.

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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

Company news