Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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I already own some shares which are down significantly. However, having updated my research and listened to the company presentation I've sunk some more in since I think this is a great company. The FD was incredibly detailed and kept answering my questions before I'd had a chance to put them to him. The CEO really seemed to be interested in extracting the maximum value from the operations and seemed to have a good grasp on the down to earth practicalities on mining and the on site mine manager also sounded confident and impressive.
As for the figures they speak for themselves. Excluding a new prospective license written off, given the current price of gold they are on a PE of 3.5 with at least a 15 year LOF. The dividend is over 6%, they are net cash rich and production is due to rise by 30% with the new central shaft which will enable them to shift ore faster and prospect for more gold.
The only downer was one of their new prospects turned out to be a dud incurring a $3m w/o. Still even that can be seen in a positive light since they have the collective strength of character to admit defeat and not waste shareholder cash.
Happy for the share price to stay at this level since it won't be long I'll have still made a profit versus leaving the money in cash thanks to the dividend.
Dear all, please find a link to the video presentation by Mark Learmonth, CMCL CFO at last night's London South East webinar. Please find the full video here: https://youtu.be/PQ1tQYPxg1E
Very positive I thought. Incredible being so successful in Zimbabwe and always seem to stay on the right side of the ruling party. Because, you might have to understand the rules, LOL! So if production increases to 80,000Oz by next year AND POG improves, this is a no brainer for income. Interesting why sp is nearly £10-00, also the advantage of being connected to a Channel Island. Also that there has never been a problem to pay USD's outside Zim. They are are also very conservative in so many ways, for example where they will look to expand.
Yip, best of the British were the Colonials! Oh, I guess I will have to take a slapdown! Ha, ha!
LOVE this company. What a gem.
Caledonia seems to deliver on what it promises.
Very nice update today. This share now looks significantly undervalued
Dear all, please join us for the latest London South East webinar tomorrow, 6 July at 6 pm. Mark Learmonth CFO is presenting and taking questions. If you have a question for Mark, contact me donald.leggatt@lse.co.uk giving your real name and email address. Please register here: https://us02web.zoom.us/webinar/register/5516055554838/WN_mVWEFSo4SYyKQKUgSf88XA
Well, the last one that was announced back in April was paid at the end of April. In the past, one quarterly dividend gets usually announced around the end of June/beginning of July. Hopefully tomorrow! Then payable, normally, at the end of July, as you say.
To be paid 30 July, isn’t it? (July, not June)
Where is it?
Peleliu - nice spot. Possibly some downward pressure on SP if any index-trackers are selling off.
https://seekingalpha.com/article/4435955-caledonia-mining-high-dividend-gold-producer-from-zimbabwe
On 14 June, it was announced that CMCL will be excluded from the Russell 3000 by 28 June. Then the gold price tanked.
Don’t think there are particular concerns about that at the moment?
Nationalisation concerns, perhaps?
Maybe, but the latest comment from the company re production has all been upbeat, as far as I know. I suspect it’s just the ups and downs of low volume shares. Notice the company is doing an LSE webinar on 6 July so perhaps that will reassure
Good question. I was wondering that myself. Obviously it could be something to do with the company that we are not privy to. External to the company I note that there is increased concern re: Covid now that Zimbabwe and SA are going through a southern winter. Maybe there is disruption to the production due to illness....
Anyone got any idea what’s going on with this share? Obviously the gold price just took a beating but CMCL was heading down before that. It’s now down to about half the August 2020 peak. Any theories?
Interpretation >>>>>
Caledonia Mining Corp PLC - Saint Helier, Jersey-based mining company - Upgrades reserve base at Blanket mine by 1% to 528,000 ounces. "Today's announcement marks an additional milestone in the long track record of growing mineral resources and successfully converting inferred mineral resources into M&I (Measured and Indicated Mineral Resources) to keep extending the life of mine at Blanket since its inception in 1906. A 1% increase in the proven and probable mineral reserves and a 12% increase in M&I after mining depletion of 84,925 ounces is a continuation of securing the long-term future of Blanket," says company.
https://www.lse.co.uk/news/CMCL/trading-updates-avi-global-sees-strong-results-finsbury-food-rebound-rg332tbaxcz6qqp.html
Anyone here clever enough to interpret this? I mean, I get the increase here & decrease there, but how does it compare with what was expected? SP is flat, so I'm guessing it's not a biggie either way.