Caledonia Mining Corporation plc


Investment case

14 years of high margin operations with upside potential

Substantial Production Growth: Fully Funded
  • 45% production growth planned
  • Rising expected cash generation from 2020 expected
  • Strong future cash generation leaves resources available for strategic purposes : target rich environment
High Margin Operations
  •  All-in Sustaining cost guidance of $810/oz – $850/oz
  • Operating costs to move down as new shaft ramps up : due to increased production volume, economies of scale and better mine efficiencies

Attractive Dividend Yield

  • One of the highest yields in the gold industry
  • Management anticipate maintaining the current dividend through any future capital investment requirement
  • Higher planned production & lower costs could support continued increases in dividends
Strong Management Team
  • Excellent in-country relations
  • Proven track record of operating reliably and profitably in Zimbabwe
  • Strong, well established, indigenous mine management team differentiates from other African producers