TIDMCMCL
RNS Number : 8202L
Caledonia Mining Corporation PLC
24 July 2017
Caledonia Mining Corporation Plc
(TSX: CAL; OTCQX: CALVD; AIM: CMCL)
Caledonia's shares to commence trading on the NYSE American
(formerly the NYSE MKT)
St Helier, July 24, 2017: Caledonia Mining Corporation Plc (the
"Company" or "Caledonia") is pleased to announce that the New York
Stock Exchange ("NYSE") has approved the listing of the Company's
common shares on the NYSE American stock exchange. The Company
expects that its common shares will begin trading on the NYSE
American on July 27, 2017 under the trading ticker symbol "CMCL".
The Company remains listed on the Toronto Stock Exchange ("TSX")
under the symbol "CAL" and depositary interests in the common
shares remain admitted to trading on AIM of the London Stock
Exchange plc under the symbol "CMCL". The trading of the Company's
common shares on the OTCQX under the symbol "CALVD" is expected to
cease upon the commencement of trading on the NYSE American.
Steve Curtis, CEO, stated "This listing for the Company on the
NYSE American is another significant step for Caledonia which joins
some of the world's best-known gold and precious metals companies
with a listing on this prestigious US exchange. This further step
in the development of Caledonia's corporate status has taken place
against the backdrop of continued progress on our major operational
development projects, principally the sinking of the Central Shaft
at the Blanket Mine in Zimbabwe. The Central Shaft, which is being
funded from Blanket's internal resources, is expected to
fundamentally change the nature of Blanket's operations by
improving operating efficiencies and providing access to deeper
levels for exploration, development and production. Completion of
the Central Shaft remains on schedule for the fourth quarter of
2018. The listing on the NYSE American is intended to provide the
Company with greater access to US institutional and retail
investors which in turn is hoped will result in better overall
trading liquidity, a lower cost of capital and other benefits for
Caledonia and its shareholders".
About Caledonia
Following the implementation of indigenisation in Zimbabwe in
September 2012, Caledonia's primary asset is a 49% interest in an
operating gold mine in Zimbabwe ("Blanket Mine"). Blanket Mine
plans to increase production from 50,351 ounces in 2016 to
approximately 80,000 ounces in 2021. Blanket Mine's target
production for 2017 is 52,000 to 57,000 ounces. Caledonia expects
to publish its results for the quarter to June 30, 2017 on or about
August 14, 2017. Caledonia's current dividend policy is to pay a
quarterly dividend which is currently 6.875 cents per share, or
27.5 cents per share on an annualised basis.
For further information please contact:
Caledonia Mining Corporation
Plc Tel: +44 1534 679 802
Mark Learmonth Tel: +44 759 078 1139
Maurice Mason
WH Ireland
Adrian Hadden/Ed Allsopp Tel: +44 20 7220 1751
Blytheweigh
Tim Blythe/Camilla Horsfall/Megan Tel: +44 207 138 3204
Ray
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, our plans and timing regarding drilling and
development (including in particular the completion of the Central
Shaft), the timing of the listing on NYSE American and the affects
of the listing on liquidity, cost of capital and other benefits.
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 (including in particular the Central
Shaft), lack of investor appetite, deterioration in the share
price, lack of volume of trading in shares and other factors.
Shareholders, potential shareholders 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;
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. Shareholders 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 information is provided by RNS
The company news service from the London Stock Exchange
END
MSCZMGZNVFKGNZM
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July 24, 2017 02:00 ET (06:00 GMT)
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