UNITED STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form
6-K
Report
of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
Of the Securities Exchange Act of 1934
For
the month of January 2024
Commission
File Number: 001-38164
CALEDONIA
MINING CORPORATION PLC
(Translation
of registrant's name into English)
B006
Millais House
Castle Quay
St Helier
Jersey JE2 3EF
(Address
of principal executive office)
Indicate by
check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F [ X
] Form 40-F [ ]
INCORPORATION BY REFERENCE
Exhibit 99.1 included with this
report on Form 6-K is expressly incorporated by reference into this report and is hereby incorporated by reference as exhibit to the Registration
Statement on Form F-3 of Caledonia Mining Corporation Plc (File No. 333-255500), as amended or supplemented.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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CALEDONIA
MINING CORPORATION PLC |
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(Registrant) |
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Date: January 30, 2024 |
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/s/
JOHN MARK LEARMONTH |
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John Mark Learmonth |
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CEO and Director |
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EXHIBIT INDEX
EXHIBIT 99.1
Caledonia Mining Corporation Plc: Encouraging results from deep
level drilling at Blanket Mine
Better than expected grades and widths from deep level drilling anticipated to support increased
overall resource at Blanket
ST HELIER, Jersey, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or the "Company") (NYSE
AMERICAN, AIM and VFEX: CMCL) is pleased to report further encouraging results from the deep level drilling programme at Blanket Mine
which is currently evaluating the continuity of the mineralised zones on the Blanket and Eroica ore bodies in anticipation of delineating
an increased overall resource. These results follow the Eroica ore body drilling results published on July 10, 2023. A total of
7,652 metres of drilling from June 2023 to end of December 2023 indicates that the existing Blanket and Eroica ore bodies have grades
and widths which are generally better than expected. Total drilling for 2023 was 13,280 metres.
Highlights of the results include:
Holes
Identifier
|
Orebody
Name
|
Orebody
Intersection |
Core
Length (m)
|
True
width (m)
|
Grade
(g/t)
|
Orebody
Intersection depth from surface (m)
|
*E.O.H (m)
|
From
(m) |
To (m) |
ERC750EX2308 |
ERCN_FW |
350.00 |
358.40 |
8.40 |
5.80 |
4.95 |
1108.40 |
392.40 |
BLK
930EX2308 |
BQR_HW |
176.03 |
200.63 |
24.60 |
13.33 |
5.92 |
1130.63 |
304.25 |
BLK
930EX2310 |
BLK2HW |
181.30 |
217.30 |
36.00 |
16.31 |
6.12 |
1147.30 |
293.50 |
BLK870EX2303 |
BLK4_5 |
28.60 |
39.40 |
10.80 |
4.27 |
8.80 |
909.40 |
272.20 |
ARS1110EX2304 |
BQR |
3.00 |
18.00 |
15.00 |
8.22 |
3.62 |
1128.00 |
161.00 |
*End of hole depth
The complete long hole drilling results for June 2023 to December 2023 are provided in Appendix 1.
Mark Learmonth, Caledonia’s Chief Executive Officer, commented:
“Our ongoing drilling campaign continues to demonstrate encouraging results, further improving our confidence
in the Blanket resource. We anticipate that the positive grades and widths will result in an increased overall resource, which in due
course should result in the extension of the existing life of the mine. We have invested heavily in Blanket over the last seven years
to increase production capacity, resulting in a mine infrastructure that can sustain production beyond the current production horizon.
"Drilling is currently focussed on the Blanket and Eroica ore bodies, where crosscuts have been mined to allow
optimal access to drill the deeper zones of the steeply-dipping ore bodies. These results are extremely promising, and we look forward
to the next phase of drilling and to updating the market accordingly.”
Commentary
These results, along with the outcome of further planned exploration, will be reflected in a revised mineral resource
and mineral reserve statement which the Company expects to publish in the second quarter of 2024 together with a revised life of mine
plan. It is anticipated that a portion of the existing inferred mineral resources will be upgraded to measured or indicated
mineral resources together with the addition of new inferred mineral resources. It is expected that this will result in the existing life
of mine being extended, rather than an increase in the target annual production rate.
Drillholes
at Eroica, drilled from 750 metres below surface, have intersected the orebodies to depths of 1,110 metres below surface, the lowest level
of main infrastructure being developed from Central Shaft. Similarly, drillholes at Blanket from 750 metres below surface have intersected
orebodies down to 1,110 metres below surface. Drillholes from 930 metres below surface at Blanket and from 1,110 metres below surface
on AR South have intersected the orebodies below 1,110 metres, which is encouraging for Blanket's longer-term development.
Further data on each drill hole is set out at Appendix 2 and pictorial representations of the holes are included below.
Appendix 1
Holes
Identifier
|
Orebody
Name
|
Orebody
Intersection |
Core
Length (m)
|
True
width (m)
|
Grade
(g/t)
|
Orebody
Intersection depth from surface (m)
|
E.O.H
(m)
|
From (m) |
To (m) |
ERC750EX2307 |
ERCN_HW |
330.45 |
332.25 |
1.80 |
1.50 |
0.72 |
1082.25 |
356.25 |
ERC750EX2308 |
ERCN_HW |
302.60 |
306.80 |
4.20 |
3.50 |
5.97 |
1056.80 |
392.40 |
ERC750EX2308 |
ERCN_FW |
350.00 |
358.40 |
8.40 |
5.80 |
4.95 |
1108.40 |
392.40 |
ERC750EX2309 |
ERCN_HW |
304.80 |
307.80 |
3.00 |
1.66 |
3.62 |
1057.80 |
347.40 |
ERC750EX2310 |
ERCN_HW |
303.60 |
304.20 |
0.60 |
0.48 |
5.49 |
1054.20 |
324.50 |
ERC750EX2312 |
ERC
_South |
|
|
Traces |
|
|
|
287.20 |
ERC750EX2313 |
ERC
_South |
|
|
Traces |
|
|
|
279.60 |
BLK870EX2301 |
BLK4_5 |
38.20 |
50.20 |
12.00 |
3.58 |
5.10 |
920.20 |
287.40 |
BLK870EX2302 |
BLK4_5 |
34.10 |
40.10 |
6.00 |
3.92 |
7.46 |
910.10 |
272.30 |
BLK870EX2303 |
BLK4_5 |
28.60 |
39.40 |
10.80 |
4.27 |
8.80 |
909.40 |
272.20 |
BLK870EX2303 |
BLK2FW |
241.00 |
242.80 |
1.80 |
1.27 |
4.35 |
1112.80 |
275.50 |
BLK870EX2304 |
BLK4_5 |
26.20 |
40.60 |
14.40 |
7.74 |
4.14 |
910.60 |
275.50 |
BLK
930EX2301 |
BQR_HW |
148.60 |
152.80 |
4.20 |
5.12 |
2.85 |
1082.80 |
299.20 |
BLK
930EX2301 |
BLK3HW |
220.60 |
226.00 |
5.40 |
4.39 |
4.41 |
1156.00 |
299.20 |
BLK
930EX2302 |
BQR_HW |
130.60 |
133.00 |
2.40 |
1.86 |
2.42 |
1063.00 |
299.20 |
BLK
930EX2303 |
BQR_HW |
134.30 |
139.10 |
4.80 |
3.20 |
2.39 |
1069.10 |
233.30 |
BLK
930EX2304 |
BQR_HW |
205.70 |
219.50 |
13.80 |
8.32 |
3.63 |
1149.50 |
251.30 |
BLK
930EX2305 |
BQR_HW |
197.90 |
209.30 |
11.40 |
7.69 |
3.99 |
1139.30 |
259.30 |
BLK
930EX2305 |
BLK1HW |
230.30 |
255.30 |
25.00 |
16.69 |
3.16 |
1185.30 |
259.30 |
BLK
930EX2306 |
BQR_HW |
170.90 |
179.90 |
9.00 |
4.02 |
5.38 |
1109.90 |
275.30 |
BLK
930EX2306 |
BLK2HW |
181.10 |
203.30 |
22.20 |
8.18 |
3.75 |
1133.30 |
275.30 |
BLK
930EX2307 |
BQR_HW |
157.80 |
169.80 |
12.00 |
6.57 |
4.05 |
1099.80 |
259.30 |
BLK
930EX2308 |
BQR_HW |
176.03 |
200.63 |
24.60 |
13.33 |
5.92 |
1130.63 |
304.25 |
BLK
930EX2309 |
BQR_HW |
205.00 |
210.40 |
5.40 |
2.24 |
12.44 |
1140.40 |
287.30 |
BLK
930EX2310 |
BQR_HW |
165.10 |
170.50 |
5.40 |
3.01 |
10.02 |
1100.50 |
293.50 |
BLK
930EX2310 |
BLK2HW |
181.30 |
217.30 |
36.00 |
16.31 |
6.12 |
1147.30 |
293.50 |
BLK
930EX2311 |
BQR_HW |
247.90 |
261.10 |
13.20 |
6.97 |
4.28 |
1191.10 |
293.40 |
BLK
930EX2313 |
BQR_HW |
152.00 |
159.80 |
7.80 |
4.43 |
2.23 |
1089.80 |
312.95 |
BLK
930EX2313 |
BLK2HW |
202.40 |
238.40 |
36.00 |
20.56 |
2.90 |
1168.40 |
312.95 |
ARS1110EX2301 |
BQR |
3.00 |
9.00 |
6.00 |
4.16 |
4.23 |
1119.00 |
158.20 |
ARS1110EX2301 |
BLK1HW |
104.20 |
106.60 |
2.40 |
1.70 |
4.48 |
1216.60 |
158.30 |
ARS1110EX2302 |
BQR |
6.00 |
12.00 |
6.00 |
4.44 |
7.15 |
1122.00 |
158.30 |
ARS1110EX2302 |
BLK1HW |
43.80 |
61.20 |
17.40 |
12.37 |
8.76 |
1171.20 |
158.20 |
ARS1110EX2303 |
BQR |
6.00 |
9.00 |
3.00 |
2.09 |
8.29 |
1119.00 |
149.00 |
ARS1110EX2303 |
BLK1HW |
25.20 |
32.20 |
7.00 |
3.36 |
5.27 |
1142.20 |
149.00 |
ARS1110EX2304 |
BQR |
3.00 |
18.00 |
15.00 |
8.22 |
3.62 |
1128.00 |
161.00 |
ARS1110EX2304 |
BLK1HW |
65.00 |
78.80 |
13.80 |
7.15 |
6.45 |
1188.80 |
161.00 |
* ERCN_HW – Eroica North Hanging wall, ERCN_FW – Eroica North Footwall, ERC_STH – Eroica South,
BQR – Blanket Quartz Reef, BLK1HW – Blanket 1 Hanging wall, BLK2HW – Blanket 2 Hanging wall, BLK2FW – Blanket
2 Footwall, BLK3HW – Blanket 3 Hanging wall, BLK4_5 – Blanket 4 and 5, ARS EXT – AR South Extension
Appendix 2
Underground exploration drill hole; azimuth, dip, drilled length, and collar location (UTM NAD83)
Hole
Identifier |
Azimuth (°) |
Dip (°) |
Drilled Length (m) |
UTM Easting (m) |
UTM Northing (m) |
UTM Elevation (m) |
ERC750EX2307 |
31 |
-
75 |
356.3 |
697
206.3 |
7
694 516.0 |
388.1 |
ERC750EX2308 |
89 |
-
67 |
392.4 |
697
206.0 |
7
694 516.2 |
388.2 |
ERC750EX2309 |
124 |
-
81 |
374.4 |
697
205.5 |
7
694 512.7 |
388.0 |
ERC750EX2310 |
118 |
-
65 |
324.5 |
697
206.6 |
7
694 512.0 |
388.0 |
ERC750EX2312 |
150 |
-
56 |
287.2 |
697
312.7 |
7
694 284.6 |
387.0 |
ERC750EX2313 |
141 |
-
58 |
204.6 |
697
313.2 |
7
694 285.1 |
387.1 |
BLK870EX2301 |
65 |
-
71 |
287.4 |
698
043.0 |
7
692 507.8 |
263.6 |
BLK870EX2302 |
45 |
-
69 |
272.3 |
698
043.0 |
7
692 508.0 |
263.7 |
BLK870EX2303 |
28 |
-
63 |
272.2 |
698
043.0 |
7
692 508.0 |
263.7 |
BLK870EX2304 |
12 |
-
63 |
275.2 |
698
042.2 |
7
692 508.7 |
263.6 |
BLK930EX2301 |
37 |
-
61 |
299.2 |
697
784.1 |
7
692 827.9 |
206.4 |
BLK930EX2302 |
81 |
-
61 |
275.2 |
697
784.0 |
7
692 830.2 |
206.4 |
BLK930EX2303 |
76 |
-
72 |
233.3 |
697
784.4 |
7
692 826.4 |
206.5 |
BLK930EX2304 |
28 |
-
77 |
251.3 |
697
783.2 |
7
692 829.4 |
206.5 |
BLK930EX2305 |
23 |
-
69 |
259.3 |
697
782.9 |
7
692 829.9 |
206.4 |
BLK930EX2306 |
127 |
-
74 |
275.3 |
697
784.5 |
7
692 825.4 |
206.5 |
BLK930EX2307 |
35 |
-
79 |
272.4 |
697
783.5 |
7
692 828.4 |
206.5 |
BLK930EX2308 |
122 |
-
67 |
304.3 |
697
784.8 |
7
692 825.9 |
206.3 |
BLK930EX2309 |
133 |
-
76 |
287.3 |
697
784.5 |
7
692 825.7 |
206.5 |
BLK930EX2310 |
85 |
-
86 |
293.5 |
697
784.2 |
7
692 825.8 |
206.4 |
BLK930EX2311 |
21 |
-
81 |
293.4 |
697
783.4 |
7
692 828.7 |
206.9 |
BLK930EX2313 |
25 |
-
76 |
313.0 |
697
783.2 |
7
692 829.4 |
206.5 |
ARS1110EX2301 |
93 |
-
64 |
158.2 |
697
765.7 |
7
693 020.3 |
25.4 |
ARS1110EX2302 |
54 |
-
65 |
158.3 |
697
761.5 |
7
693 022.4 |
25.2 |
ARS1110EX2303 |
10 |
-
46 |
149.0 |
697
765.5 |
7
693 022.3 |
25.0 |
ARS1110EX2304 |
125 |
-
44 |
161.0 |
697
765.7 |
7
693 019.1 |
25.8 |
Eroica Orebody – Drilling from 750 metres below surface
Blanket Orebodies – Drilling from 930 metres below surface
Blanket Orebodies – Drilling from 870 metres below surface
AR South – Drilling from 1,110 metres below surface
Enquiries:
Caledonia
Mining Corporation Plc |
|
Mark Learmonth Camilla Horsfall |
Tel: +44 1534 679 800 Tel: +44 7817 841 793 |
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Cavendish Capital Markets Limited (Nomad and Joint Broker) Adrian Hadden Pearl
Kellie |
Tel: +44 207 397 1965 Tel: +44 131 220 9775 |
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Liberum Capital Limited (Joint Broker) Scott Mathieson/Kane Collings |
Tel: +44 20 3100 2000 |
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Camarco, Financial PR (UK) |
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Gordon Poole Julia Tilley Elfie Kent |
Tel: +44 20 3757 4980 |
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3PPB (Financial PR, North America) |
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Patrick Chidley Paul Durham |
Tel: +1 917 991 7701 Tel: +1 203 940 2538 |
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Curate Public Relations (Zimbabwe) |
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Debra Tatenda |
Tel: +263 77802131 |
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Tel: +263 (242) 745 119/33/39 |
Qualified Persons
Craig James Harvey, MGSSA, MAIG, Caledonia Vice President, Technical Services, has reviewed and approved the scientific
and technical information contained in this news release. Craig James Harvey is a “Qualified Person” as defined by each of
(i) the Canadian Securities Administrators’ National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part
1300 of Regulation S-K of the U.S. Securities Act.
Quality Assurance and Quality Control
Access to Blanket Mine premises is controlled by security personnel on the first gate. On the second gate, in addition
to security, entry is gained by biometric entry system. Diamond drilling is performed by qualified diamond drillers under the supervision
of a diamond drill foreperson. Drilled core is routinely brought to surface to the core shed where it is received and laid down. A qualified
geological technician performs geotechnical logging while a qualified geologist logs the core and marks the portions for splitting. The
core is split in half along the core axis using an electric core cutter equipped with a diamond saw cutter. The geologist marks the sample
intervals, put tickets, insert standards and blanks. One half of the sample is put into a plastic sample bag and sealed with cable ties.
The sampling information is entered into the database. The other half of the core is marked with sample intervals and sample numbers and
returned to the core box and retained for future reference. The samples are put in marked grain bags and tied with cable ties.
Transportation is by road using mine vehicle to a SADCAS accredited testing laboratory (accreditation number TEST-05
0030) in Kwekwe, some 330km from Blanket Mine. A delivery note is signed as proof of dispatch.
Gold is analysed by a 50 grams fire assay with an Atomic Absorption (AA) finish. The laboratory also has internal quality
control (“QC”) programs that include insertion of reagent blanks, reference materials, and pulp duplicates.
Blanket Mine inserts QC samples (blanks and reference materials) at regular intervals to monitor laboratory performance.
When results are received, the assay results are painted against the sample numbers on the core retained.
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: planned exploration
programs, focuses, strategies, drilling targets and work, potential for further exploration of certain areas, potential drilling results
and related expectations, costs and expenditures, including with respect to the cost of development and production, project economics,
gold price assumptions, potential mineralization, projected ore grades, opportunities to add near mine and further high-grade mineral
reserves and resources, expectations regarding the mine plan, sustaining capital and value of operations and other statements and information
that is based on forecasts and projections of future operational, geological or financial results, estimates of amounts not yet determinable
and assumptions of management. 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.
Exploration results that include geophysics, sampling, and drill results on wide spacings may not be indicative
of the occurrence of a mineral deposit. Such results do not provide assurance that further work will establish sufficient grade, continuity,
metallurgical characteristics and economic potential to be classed as a category of mineral resource. A mineral resource that is classified
as "inferred" or "indicated" has a great amount of uncertainty as to its existence and economic and legal feasibility. It cannot be assumed
that any or part of an "indicated mineral resource" or "inferred mineral resource" will ever be upgraded to a higher category of mineral
resource. Investors are cautioned not to assume that all or any part of mineral deposits in these categories will ever be converted into
proven and probable mineral reserves.
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.
For a more detailed discussion of such risks and other factors that may affect the Company’s ability to achieve
the expectations set forth in the forward-looking statements contained in this news release, see the Company’s latest 20-F and Management’s
Discussion and Analysis, each under the heading “Risk Factors”, available on the SEDAR website at www.sedar.com
or on EDGAR at www.sec.gov. The foregoing should be reviewed in conjunction with the information and risk factors and
assumptions found in this news release.
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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/87aa791f-ef43-4538-9427-6aed9831ee16
https://www.globenewswire.com/NewsRoom/AttachmentNg/d810303f-4c02-4f93-8eff-03615b62fe1f
https://www.globenewswire.com/NewsRoom/AttachmentNg/7dd88873-2cc2-4bfb-b3f6-727c3ba49f7a
https://www.globenewswire.com/NewsRoom/AttachmentNg/28a5a596-8d2a-4b8a-b0a6-8ec40f81cc72
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