Caledonia Mining (NYSE: CMCL) reviewed 11-10-2020
(All figures in USD)
Market Cap: $192.8 Million Share Price: $17.53
Shares outstanding: 11,000,000 as of 31 Dec 2019
Cash and cash equivalents: $11.64 Million as of 30 June 2020
Net Debt: $1.0 M as of 31 Dec 2019
Current operations: Yes
Insider holdings: 15.4% Institutional: 94 institutions own about 45-50%
Website: caledoniamining.com
Investor Presentations: https://www.caledoniamining.com/investors/reports-presentations/#presentations
CEO: Steve Curtis HQs: Saint Helier, Jersey
Caledonia Mining holds a 64% interest in the small Blanket Mine in Zimbabwe
Adjusted Q2 earnings of $0.36 per share on revenue of $22.9 Mil
Cash from Operations of $5.4 Million
Q2 production was 13,499 oz gold and 1H2020 was 27,732 oz gold
AISC stated at $868 per oz in the 2nd quarter
Has 18 properties to explore, and a potential advanced copper mine (Nama)
According to Bloomberg (21 Oct 2020) is considering the purchase of Bilboes Gold’s Isabella-McCays-Bubi mines in Zimbabwe with the potential to add 200K oz gold per year to production
They plan to invest over $400 Million in Zimbabwe in the next few years
The current Annual dividend is $0.40 cents or about 2.34%
Bottom line:
- Small but profitable and a potential acquisitor
- No position, and unlikely to have one although the current price is attractive
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