REG - Caledonia Mining Crp - Caledonia declares quarterly dividend

Caledonia MiningAnnouncement

04/01/2022 07:00

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RNS Number : 2368X  Caledonia Mining Corporation PLC  04 January 2022

Caledonia Mining Corporation Plc

Caledonia declares quarterly dividend

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

 

 

St Helier, January 4, 2022 - Caledonia Mining Corporation Plc ("Caledonia" or
the "Company") is pleased to announce that the Board of Directors has declared
a quarterly dividend of 14 United States cents (US$0.14) on each of the
Company's shares.

 

Highlights

·   104 per cent increase from the level of 6.875 cents since October 2019

·   Target production of 73,000 to 80,000 ounces of gold in 2022

·   The Company's strategy will focus on becoming a multi-asset gold
producer

·   Caledonia continues to evaluate investment opportunities in Zimbabwe
and elsewhere

 

Commenting on the announcement, Steve Curtis, Chief Executive Officer, said:

 

"Over the last 10 years Caledonia has built a strong reputation for delivering
on its word and rewarding shareholders through growth and dividends.

 

"In January 2020, we announced our first dividend increase and over the last
two years we have more than doubled the dividend while always balancing the
importance of returning money to shareholders and investing in the Company's
growth.

 

"Now that the Central Shaft is complete the Company can focus on other areas
of its growth strategy, predominately de-risking the business from being a
single asset producer. Last year we announced the acquisition of Maligreen,
one of the more significant exploration opportunities in Zimbabwe. We see huge
geological potential in Zimbabwe, and we continue to evaluate other investment
opportunities in the country.

 

"I am very excited with the opportunity that we have to evolve our business,
with Blanket Mine as the foundation for our growth. This marks a strategic
pivot in the future direction of Caledonia as it pursues its strategy to
become a multi-asset gold producer."

 

 

The relevant dates relating to the dividend are as follows:

·    Ex-dividend date: January 13, 2022

·    Record date: January 14, 2022

·    Payment date: January 28, 2022

Shareholders with a registered address in the UK will be paid in Sterling.

 

Caledonia's Dividend Policy

Caledonia's strategy to maximise shareholder value includes a quarterly
dividend policy which the Board adopted in 2014. The Board will consider
future increases in the dividend as appropriate in line with its prudent
approach to risk management.

 

 

For further information please contact:

 

 Caledonia Mining Corporation Plc

 Mark Learmonth                      Tel: +44 1534 679 802

 Camilla Horsfall                    Tel: +44 7817 841793
 WH Ireland

 Adrian Hadden/ Andrew De Andrade    Tel: +44 20 7220 1751
 Blytheweigh Financial PR

 Tim Blythe/Megan Ray                Tel: +44 207 138 3204
 3PPB

 Patrick Chidley                     Tel: +1 917 991 7701

 Paul Durham                         Tel: +1 203 940 2538
 Curate Public Relations (Zimbabwe)

 Debra Tatenda                       Tel: +263 77802131

 

Note: The information contained within this announcement is deemed by the
Company to constitute inside information under the Market Abuse Regulation
(EU) No. 596/2014 ("MAR") as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and is disclosed in accordance with the
Company's obligations under Article 17 of MAR.

 

Cautionary Note Concerning Forward-Looking Information

Information and statements contained in this news release that are not
historical facts are "forward-looking information" within the meaning of
applicable securities legislation that involve risks and uncertainties
relating, but not limited, to Caledonia's current expectations, intentions,
plans, and beliefs.  Forward-looking information can often be identified by
forward-looking words such as "anticipate", "believe", "expect", "goal",
"plan", "target", "intend", "estimate", "could", "should", "may" and "will" or
the negative of these terms or similar words suggesting future outcomes, or
other expectations, beliefs, plans, objectives, assumptions, intentions or
statements about future events or performance. Examples of forward-looking
information in this news release include: production guidance, estimates of
future/targeted production rates, and our plans and timing regarding further
exploration and drilling and development.  This forward-looking information
is based, in part, on assumptions and factors that may change or prove to be
incorrect, thus causing actual results, performance or achievements to be
materially different from those expressed or implied by forward-looking
information.  Such factors and assumptions include, but are not limited to:
failure to establish estimated resources and reserves, the grade and recovery
of ore which is mined varying from estimates, success of future exploration
and drilling programs, reliability of drilling, sampling and assay data,
assumptions regarding the representativeness of mineralization being
inaccurate, success of planned metallurgical test-work, capital and operating
costs varying significantly from estimates, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals,
inflation, changes in exchange rates, fluctuations in commodity prices, delays
in the development of projects and other factors.

 

Security holders, potential security holders and other prospective investors
should be aware that these statements are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ
materially from those suggested by the forward-looking statements.  Such
factors include, but are not limited to: risks relating to estimates of
mineral reserves and mineral resources proving to be inaccurate, fluctuations
in gold price, risks and hazards associated with the business of mineral
exploration, development and mining, risks relating to the credit worthiness
or financial condition of suppliers, refiners and other parties with whom the
Company does business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards, employee relations; relationships with and
claims by local communities and indigenous populations; political risk; risks
related to natural disasters, terrorism, civil unrest, public health concerns
(including health epidemics or outbreaks of communicable diseases such as the
coronavirus (COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral exploration and
development, including the risks of obtaining or maintaining necessary
licenses and permits, diminishing quantities or grades of mineral reserves as
mining occurs; global financial condition, the actual results of current
exploration activities, changes to conclusions of economic evaluations, and
changes in project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs, environmental, safety
or regulatory risks, expropriation, the Company's title to properties
including ownership thereof, increased competition in the mining industry for
properties, equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production rate
increase and currency fluctuations.  Security holders, potential security
holders and other prospective investors are cautioned not to place undue
reliance on forward-looking information.  By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the possibility that the
predictions, forecasts, projections and various future events will not
occur.  Caledonia undertakes no obligation to update publicly or otherwise
revise any forward-looking information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.

 

This news release is not an offer of the shares of Caledonia for sale in the
United States or elsewhere. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale of
the shares of Caledonia, in any province, state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such province, state or
jurisdiction.

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