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very good results and Q4 will be better again ... the big investment in the solar plant is behind us , costs will go down and cash balance will go up ...
2023 should be a very profitable year for Caledonia.
:+)
Topped up on today's price weakness. Gold miners generally having a tough few weeks, which is masking the good progress of CMCL.
Thanks for sharing, Troajan.
What a remarkable little company, so efficient and profitable, such foresight!
Great things still to come!
Probably keeping cash in case it's needed on new open cast.
Record production for any quarter announced this morning, can't see anything on an increased divi tho'.
https://miningzimbabwe.com/zimbabwean-man-to-be-caledonias-biggest-share-holder/
Good to see terms of acquisition is equity and small NSR. Don’t see the sp doing anything other than tagging POG until feasibility study identifies how much capex is required.
Cmcl intimated that they intend to cover most from ops which is what I expected. The early start with the oxides and the new shaft on line will help.
Divi will likely mark time until they have a better handle on costs.
Zim govt seem to be open to currency terms.
Considering increasing existing positions as they keep coming out tops but I want to diversify my income a bit more. Cmcl defo looking good value now!
Good luck to holders here.
Usual caveats
Trek
Just topped up my holding by 34% so now almost back to my previous (undiluted) ownership level.
I'm actually surprised this did not break the £9 barrier today, especially given the size of some of the unusually large buys. Then again, this is a junior gold miner in Zim, so not top of most people's buy list.....
As I see it we'll just be owning 29% less of a larger company.
To me it looks like a good acquisition. They presently produce 80Koz X 0.64 (accounting for non CMCL ownership) at Blanket equating to = 51 Koz. 200Koz combined from both mines would be a 300% increase in revenue. For the new mine, being open cast they estimate similar (or slightly lower) AISC than Blanket, so if the capex for the new mine can be largely self funded while maintaining the divi I give it the thumbs up.
Thank you Bismarck. Silly me I was assuming that they would be telling me how much my existing holding would be diluted relative to what it would be after the transaction. Instead they add the new and old together and quote a figure based on the proportion of the new relative to the combined total. To me that is meaningless.
Am I being cynical when I say this makes the investment appear to be less of a betting the farm approach than is actually the case?
There are 12.2m undiluted shares in issue
So this will increase to 17.3m after dilution by 5.1m new shares
5.1m is about 29% of 17.3m
In addition to the smelter royalty the RNS states they paid a "total consideration of 5,123,044 Caledonia shares representing approximately 28.5 per cent of Caledonia's fully diluted equity."
Yet when I look at the accounts they state the no of fully diluted shares is 12.2m. 5.1 into 12.2 is nearer 40% not 28% so...
what am I missing?
https://polaris.brighterir.com/public/baker_steel_resources_trust/news/rns/story/w31oj2x
Mark said in the interview that they were looking at something interesting that may take priority over Maligreen. Now we know what it is!
https://www.proactiveinvestors.co.uk/companies/news/987834/caledonia-mining-hits-target-runway-as-gold-production-rises-20-987834.html
2 trades on that news.....nutz?