Caledonia Mining Corporation plc

Investors

Key Financials

Caledonia Mining has built a solid track record with three years of rising production and declining unit operating costs, this has delivered solid and growing operating cash flow which has supported significant capital investment in the Blanket mine which will deliver the company’s growth ambition of 80,000 ounces by 2022.

 2015201620172018CAGR
Revenue ($)48,977 61,99269,76268,39912%
Gold Production (oz) 42,80250,351 56,13354,5118%
Operating Cash Flow ($k) 6,869 23,011 24,51217,66737%
Capital Investment ($k)16,567 19,88221,63920,192-
Cash ($k)10,880 14,33512,75611,187-
Attributable Profit ($k) 4,779 8,5269,38410,76631%
Return on Shareholders Funds (%) 10%15%15%15%14%
Adjusted EPS (USc/share)44.598.6135.4131.544%
 2017 - Q12017 - Q22017 - Q32017 - Q42018 - Q12018 - Q2
Tonnes Milled124,225136,163136,064 150,755123,628132,585
Average Grade (g/t) 3.423.083.52 3.623.483.19
Average Recovery (%) 93.792.893.693.693.4 92.8
Gold Produced (oz) 12,794 12,51814,39616,42512,92412,657
Average Realised Gold Price ($/oz) 1,213 1,2351,2651,2561,3121,278
On Mine Costs ($/oz)659696 638 556687 717
All in Sustaining Costs ($/oz) 857855773901832 856
G&A Costs ($m) 1,4411,4931,607 1,3701,5421,660

Grade is expected to increase to approx. 4 g/t in 2020 in terms of the mine plan; recovery is expected to return to 93.5% following the installation of a new oxygen plant in late 2018.

  • On mine costs increased in Q2 2018 due to the inclusion of the costs of the pilot plant and the costs of trackless and other equipment used in the declines. The operation of declines is more expensive than a shaft operation; these costs are expected to normalise after the central shaft is commissioned in 2020 and declines are phased out of operation.
  • AISC includes the increase of the export credit incentive paid by the Zimbabwe government which increased from 2.5% to 10% of gold sales with effect from February 2018.