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Caledonia Mining Corporation Plc - Caledonia declares quarterly dividend of 6.875 cents per share (NYSE AMERICAN: CMCL, AIM: CMCL; TSX: CAL)

ID: 1534430
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(PresseBox) - Caledonia Mining Corporation Plc (?Caledonia? or the ?Company? - today announces that its board of directors has declared a dividend of six and seven eighths United States cents (US$0.06875) on each of the Company''s common shares.

The relevant dates relating to the dividend are as follows:

Ex-dividend date: April 12, 2018

Record date: April 13, 2018

Dividend cheque mailing date: April 27, 2018

Shareholders and depositary interest holders in Canada and the UK will be paid in Canadian Dollars and Sterling respectively.

Steve Curtis, Chief Executive Officer, said:

?Caledonia maintains its 6.875 cents per share quarterly dividend following a year of strong cash generation in 2017 during which Blanket Mine was able to support both the significant capital investment in the Central Shaft project and dividend payments to its shareholders.

?The business continues its strategic investment in the Central Shaft project, having announced towards the end of last year a significant further increase in Blanket Mine?s resource base and consequently a planned deepening of the Central Shaft in order to access these resources. The Central Shaft has approximately two years of significant capital investment in 2018 and 2019 remaining after which it is expected to be in production in 2020 when the business is anticipated to see a period of substantially increased free cash flow as capital investment declines.

?Caledonia is targeting production of between 55,000 and 59,000 ounces of gold in 2018 as it continues to make progress towards its goal of 80,000 ounces per year by 2021 upon completion of the Central Shaft.?

Caledonia?s Dividend Policy

Caledonia?s strategy to maximise shareholder value includes a quarterly dividend policy which the board of directors adopted in 2014.

It is expected that the current dividend of twenty-seven and a half United States cents per annum, paid in equal quarterly instalments, will be maintained.

Effect of the re-domicile from Canada to Jersey, Channel Islands

Following the re-domicile of the Company from Canada to Jersey with effect from March 19, 2016, the dividend is no longer subject to Canadian withholding tax and it is no longer eligible for the purposes of the Income Tax Act (Canada).

About Caledonia Mining

Caledonia?s primary asset is a 49% interest in an operating gold mine in Zimbabwe (?Blanket Mine?).

As at December 31, 2017, Caledonia had cash of approximately US$12.8m.

For further information please contact:


Mark Learmonth

Maurice Mason

WH Ireland

Adrian Hadden/Ed Allsopp


Tim Blythe/Camilla Horsfall/Megan Ray

Swiss Resource Capital AG

Jochen Staiger


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.ions, 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 further exploration and 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 and delays in the development of projects.

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.thiness 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 and risks relating to the uncertainty of timing of events including targeted production rate increase.

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published by: PresseBox
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Date: 04/03/2018 - 10:55
Language: English
News-ID 1534430
Character count: 2382
Firma: Swiss Resource Capital AG
Ansprechpartner: Feedback to about Pressrelease-id:
Stadt: St Helier


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