REG - Caledonia Mining Crp - Caledonia declares quarterly dividend

Caledonia MiningAnnouncement

30/12/2022 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221230:nRSd2506La&default-theme=true

RNS Number : 2506L  Caledonia Mining Corporation PLC  30 December 2022

Caledonia Mining Corporation Plc

Caledonia declares quarterly dividend

 

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

 

St Helier, December 30, 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.

 

Commenting on the announcement, Mark Learmonth, Chief Executive Officer, said:

 

"In January 2022, the Company announced that it was looking to evolve the
business with a strategic pivot in the future direction of Caledonia as
it pursues its strategy to become a multi-asset gold producer. At that time,
we had recently announced the purchase of the Maligreen claims and during the
course of the year we made significant advances in this area, culminating in
the publication of an updated technical report on Maligreen last month 1 . In
July, we announced that the Company had signed an agreement to purchase
Bilboes Gold Limited; and a few months later the Company acquired Motapa
Mining Company UK Limited, the ultimate holding company of an exploration
project adjacent to Bilboes.

 

"This was achieved alongside three record quarters of production and we are on
track to achieve the top end of our 2022 production guidance of between 73,000
and 80,000 ounces of gold 2 . The Company has come a long way in the last 12
months as we continue to pursue our strategy of becoming a multi asset gold
producer."

 

 

The relevant dates relating to the dividend are as follows:

 

• Ex-dividend date VFEX: January 11, 2023

• Ex-dividend date AIM and NYSE: January 12, 2023

• Record date: January 13, 2023

• Payment date: January 27, 2023

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.

 

 

Enquiries:

 Caledonia Mining Corporation Plc

 Mark Learmonth                                             Tel: +44 1534 679 800

 Camilla Horsfall                                           Tel: +44 7817 841 793
 Cenkos Securities plc (Nomad and Joint Broker)

 Adrian Hadden                                              Tel: +44 207 397 1965

 Neil McDonald                                              Tel: +44 131 220 9771

 Pearl Kellie                                               Tel: +44 131 220 9775
 Liberum Capital Limited (Joint Broker)

 Scott Mathieson/Kane Collings                              Tel: +44 20 3100 2000
 BlytheRay Financial PR (UK)

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

 3PPB (Financial PR, North America)                         Tel: +1 917 991 7701

 Patrick Chidley                                            Tel: +1 203 940 2538

 Paul Durham
 Curate Public Relations (Zimbabwe)                         Tel: +263 77802131

 Debra Tatenda
 IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)  Tel: +263 (242) 745 119/33/39

 Lloyd Mlotshwa

 

 

 Note: This announcement contains inside information which is disclosed in
accordance with 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.

 1  Refer to technical report entitled "Caledonia Mining Corporation Plc
Updated NI 43-101 Mineral Resource Report on the Maligreen Gold
Project, Zimbabwe dated November 3, 2022 prepared by Minxcon (Pty)
Ltd and filed on SEDAR (www.sedar.com (http://www.sedar.com/) ) on November
7, 2022.

 2  Refer to the technical report entitled "Caledonia Mining Corporation Plc
NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe" dated May 17,
2021 prepared by Minxcon (Pty) Ltd and filed by the Company on SEDAR on May
26, 2021.

Mr Dana Roets (B Eng (Min.), MBA, Pr.Eng., FSAIMM, AMMSA), Chief Operating
Officer, is the Company's qualified person as defined by Canada's National
Instrument 43-101 and has approved any scientific or technical information
contained in this news release.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  DIVPPGPAPUPPGQB