Caledonia Mining Corporation PLC
LSE:CMCL
Caledonia Mining Corporation PLC
Caledonia Mining Corp. Plc engages in the mining, exploration, and development of mines. The firm's activities are focused on the Blanket Mine in Zimbabwe. Its segments include Corporate, Zimbabwe, South Africa and Zambia. The Corporate segment includes the Company and Greenstone Management Services Limited (UK) responsible for administrative functions. The Zimbabwe segments include Caledonia Holdings Zimbabwe Limited and subsidiaries. The Zambia segments consist of Nama copper project and cobalt project. The South Africa segment comprises a gold mine, as well as sales made by Caledonia Mining South Africa Proprietary Limited to the Blanket Mine. The Blanket Mine is located approximately 560 kilometers south of Harare and over 150 kilometers south of Bulawayo. The company has exploration title holdings in the Gwanda Greenstone Belt totaling approximately 80 claims, covering a total area of over 2,500 hectares.
Caledonia Mining Corp. Plc engages in the mining, exploration, and development of mines. The firm's activities are focused on the Blanket Mine in Zimbabwe. Its segments include Corporate, Zimbabwe, South Africa and Zambia. The Corporate segment includes the Company and Greenstone Management Services Limited (UK) responsible for administrative functions. The Zimbabwe segments include Caledonia Holdings Zimbabwe Limited and subsidiaries. The Zambia segments consist of Nama copper project and cobalt project. The South Africa segment comprises a gold mine, as well as sales made by Caledonia Mining South Africa Proprietary Limited to the Blanket Mine. The Blanket Mine is located approximately 560 kilometers south of Harare and over 150 kilometers south of Bulawayo. The company has exploration title holdings in the Gwanda Greenstone Belt totaling approximately 80 claims, covering a total area of over 2,500 hectares.
Strong Revenue & Profit: Revenue for the quarter rose 52% to $71 million, with EBITDA up 162% to $33 million, driven by a 40% surge in gold prices to $3,434 per ounce.
Production Steady: Blanket mine produced just over 19,000 ounces and sold 20,000 ounces, positioning the company around 3,000 ounces ahead of its year-to-date plan.
Cost Inflation: On-mine costs increased 27% and all-in sustaining costs rose 40% quarter-on-quarter, prompting a 2025 cost guidance hike for both metrics.
Dividend Maintained: Another $0.14 per share quarterly dividend was declared, with management aiming to maintain but not increase the payout due to upcoming investment at Bilboes.
Operational Challenges: The quarter included a fatal accident at Blanket mine, which led to temporary stoppages in high-grade areas and a short-term dip in ore grade.
Project Updates: A maiden resource for Motapa North is expected in H1 2026; Bilboes feasibility study results are described as imminent.
Liquidity & Dividends: Total liquidity stands over $44 million, with Blanket expected to distribute $60–70 million in dividends for the year.
