Caledonia Mining Corporation plc

Investors

Investment case

14 years of high margin operations with upside potential

Substantial Production Growth: Fully Funded
  • Significant increase in production from 2022
  • Increased cash flows due to higher production, lower unit costs and foreseeable declining capex
  • Strong future growth from additional exploration assets
High Margin Operations
  • Reduction in All-in Sustaining Cost.
  • 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

  • Review dividend to deliver sustainable dividend growth consistent with increasing free cash flow
  • October 2021 dividend of 14 cents per share; 104% increase since October 2019
  • 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