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Sorry meant to read *arrived* in Jan, the project will be operational this year.
https://twitter.com/CaledoniaMining/status/1485644430317080583
When you say January, you presumably mean January 2023, yes?
Solar equipment arriving onsite in Jan - it will supply 27% of CMCL's energy needs. With Zims expensive and erratic energy supplies this is a smart move, not to mention the environmental kudos this will give the mine... will be adding more when I can...
Deepjoy, this has never been a share that has high volumes of trades. Definitely not on the LSE but not sure about the US Market. I guess not there either in comparison to other precious metal shares.
But, POG is steadily going NORTHWARDS, and for very good reason(s)!
yesterday 60 shares traded to close the day.. today 6000 shares two hours in. You couldn't make this up sooooooo frustrating but it will come good this year albeit slowly :)
Deepjoy and all others. I listened to Alistair McLeod on KingWorld on the price of gold. His arguments for the direction of gold to go UP (POG), seem solid and confirmed by many other Gold Bugs. The question is just WHEN? Does a Ukranian war need to unfold? Surely debt, viruses, flagging economies, inflation and bursting bubbles (like the Facebook the most recent) etc... All should underpin a rising POG - yet POG seems to be firmly held down?
Anyway, Caledonia is a wonderful little profitable miner and we look forward to improved production with the new shaft. If the POG does it's magic (to $2000?), our dividend s will more then satisfy us PI's! For sure!
Ha
god its lonely on this board ..... :) zzzzz
Definitely buys - the 500 are mine
Lennie
Todays trades are buys. Probably the cheapest gold miner on AIM with a decent dividend and prospective p/e dropping below 4. I'm in today.
Looking at quarterly divi payers again. Does anyone know If you have to deal with tax forms to claim the divi here?
TIA
Trek
Some big shoes to fill for Mark Learmonth. He'll need to pull his socks up!
Agreed. The lack of liquidity is irritating. But, using Stockopedia figures, this is a very profitable business. Its operating margins averaged some 40.3% over the last seven years. While over the same period, its return on capital employed averaged 24.5%. Not forgetting that its Central Shaft project, commissioned in April 2021, took about six years to complete, cost around US$67m and was self-funded. Unlike most AIM-listed resource stocks, there has been very little equity dilution since it was listed. In my view, it's not a smoke and mirrors outfit.
By the way, as a result of the Central Shaft and the subsequent increase in production, its all-in sustaining costs have dropped 19% to US$909 for Q3 2021 (Compared to Q3 2020). While it's still increasing production as it fully exploits the Central Shaft, so those costs could fall further. And it's now in a position to focus on its Maligreen Gold project in Zimbabwe.
It's also worth adding that its recent listing on the Victoria Falls Stock Exchange in Zimbabwe comes with a significant upside. It will now receive a greater proportion of its revenue in US Dollars. That benefit will also impact any potential revenue from its Maligreen project. Of course, it's based in Zimbabwe and it comes with risk. But, in my opinion, the same could be said of most resource stocks. I certainly would not put all or too many of my eggs in any one basket.
illiquid is an understatement ... frustrating to own this great company trading on a low PE and paying Divi's with forward guidance in the higher range etc etc - grrrrr
There is news out B2Gold of Canada will eye some acquisitions of gold mining assets in Zimbabwe. The only name which comes to mind is Caledonia Mining. Strong balance sheet, good production profile going ahead, a bit less well on the cash holdings/liquidity as they expanded current operations. A Russian gold company is also in the country for a new gold mine/project, could be Nord Gold who operates in different West African countries.
A PGM play, not listed in London, is Zimplats. More than three-quarters of the share capital is held by Impala Platinum. This is a huge cash machine, and not small. But the question is, how will PGMs develop over the next years?
Love it! These guys just keep delivering. We should be back at £19 p/share, even without PMs at record highs.
Keep stackin'.
Bugger-the-Banks, this is an incredible RNS! Love these Zimboons! They deliver what they set out to do and cannot wait for that next purchase to kick into profit in the not too distant future! Shallow open pit I would presume!
When the POG starts behaving like it should, those dividends should come in real handy! The sky is the only limiting factor here! What an excellent company run by old Varsity acquaintance's!
I couldn’t agree more! Sitting on a small loss on a large position, happy to be collecting those dividends until the gold market is a little bit more in focus again.
Another dividend hike & some excellent production numbers. Sit back, relax & enjoy.
"About 76% of the resource estimate, or 712,000 ounces, is located at depths shallower than 220 metres indicating the potential for an open pit mining operation. "
That's of the near 1million ounces they know about. I guess the drilling programme will reveal more gold, time will tell.
Glad Curtis and the boys are moving away from being a one horse pony! Zim is richly endowed with gold deposits!
Look at that share price over the last 2 weeks(approximately). Flat, never mind the small crash in POG. The only aspect of Caledonia I do not like are the incredibly small volumes of shares traded. But then, this is a very small successful little miner! Not billions of shares out there!
POG forecast to remain relatively unchanged in the short term.
Low cost producer, sub $1000/oz so should not be excessively levered by POG in any case
Increasing revenue/profit from central shaft
Forward P/E of 4
Divi 5%
Politically stable in Zim (by historic standards)
What's not to like?