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Last $0.59 USD
Change Today +0.006 / 1.03%
Volume 34.1K
CALVF On Other Exchanges
Symbol
Exchange
Toronto
OTC BB
London
Stuttgart
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

caledonia mining corp (CALVF) Key Developments

Caledonia Mining Corporation Announces Unaudited Consolidated Earnings and Production Results for the Second Quarter and Six Months Ended June 30, 2015

Caledonia Mining Corporation announced unaudited consolidated earnings and production results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of CAD 15,555,000 compared to CAD 15,014,000 a year ago. Profit from operating activities was CAD 3,788,000 compared to CAD 1,831,000 a year ago. Profit before income tax was CAD 3,759,000 compared to CAD 1,788,000 a year ago. Profit attributable to shareholders of the company was CAD 1,840,000 or 3.4 cents per diluted share compared to CAD 324,000 or 0.5 cents per diluted share a year ago. Adjusted basic earnings per share were 3.7 cents compared to 2.3 cents a year ago. Cash from operating activities was CAD 1,658,000 compared to CAD 2,631,000 a year ago. Property, plant and equipment additions were CAD 1,550,000 compared to CAD 3,466,000 a year ago. For the six months, the company reported revenue of CAD 32,618,000 compared to CAD 31,008,000 a year ago. Profit from operating activities was CAD 8,220,000 compared to CAD 5,088,000 a year ago. Profit before income tax was CAD 8,150,000 compared to CAD 5,001,000 a year ago. Profit attributable to shareholders of the company was CAD 4,265,000 or 8.0 cents per diluted share compared to CAD 1,878,000 or 3.3 cents per diluted share a year ago. Adjusted basic earnings per share were 7.8 cents compared to 5.2 cents a year ago. Cash from operating activities was CAD 7,885,000 compared to CAD 5,902,000 a year ago. Property, plant and equipment additions were CAD 3,582,000 compared to CAD 7,252,000 a year ago. For the quarter, the company reported gold production of 11,223 oz compared to 10,401 oz a year ago. For the six months, the company reported gold production of 21,464 oz compared to 20,361 oz a year ago.

Caledonia Mining Corporation Announces Executive Appointments

Caledonia Mining Corporation announce that John Mark Learmonth (Mark Learmonth) has joined the Board as Chief Financial Officer and David Norval Henderson has joined the board as a non-executive director, both appointments with immediate effect. Mr. Learmonth joined Caledonia in July 2008. Prior to this, he was a Division Director of Investment Banking at Macquarie First South in South Africa, and has over 17 years' experience in corporate finance and investment banking, predominantly in the resources sector in Africa. Mr. Learmonth was appointed Caledonia's Chief Financial Officer (although not appointed to the Board) in November 2014. The names of all companies of which Mr. Learmonth, has been a director at any time in the previous five years are: Greenstone Management Services Limited, Caledonia Mining South Africa, and Blanket Mine (1983) Private Limited. He previously served at Macquarie First South Capital as a Director. Mr. Henderson is a project manager, whose engineering background includes the planning, development and operation of gold and base metal operations in Canada, U.S.A., South America, Europe, Africa and Eastern Russia. Mr. Henderson has affiliations with the following professional organizations: Professional Engineers Ontario, the Canadian Institute of Mining and Metallurgy and the American Institute of Mining Engineers.

Caledonia Mining Corporation Announces the Resignation of Richard Patricio as Director

Caledonia Mining Corporation announced that in light of the outcome of the shareholder vote, it will accept Mr. Richard Patricio’s resignation as director effective upon the appointment of his successor, which is expected to occur as soon as practicable.

Caledonia Mining Corporation Declares Quarterly Dividend on Common Shares

Caledonia Mining Corporation announced that the Board of Directors has declared Dividend of $0.015 on each of the company's common shares. The ex-dividend date for shares held on the Toronto register is July 15, 2015 and ex-dividend date for shares held on Crest in the UK is July 16, 2015. The record date is July 17, 2015 and dividend cheque mailing date is July 31, 2015.

Caledonia Mining Corporation Announces Production Results for the Second Quarter and First Six Months of 2015; Provides Production Guidance for the Second Half of 2015

Caledonia Mining Corporation announced production results for the second quarter and first six months of 2015. For the period, the company reported gold production remains on track to achieve target production for 2015 of 42,000 ounces. For the second quarter, the company reported 10,424 ounces of gold were produced, representing a 4.7% increase on the gold produced in first quarter of 2015 (9,960 ounces) and a 7.1% decrease on the gold produced in second quarter of 2014 (11,223 ounces). Production in the Quarter is based on mine assays and is subject to adjustment following third party assays. The increased production reflects the improved management control over grade and tonnage. The company anticipated that production will increase somewhat in the second half of 2015 following completion of the tramming loop on 22 Level in June. The completed tramming loop will increase the underground haulage capacity and allow for an increase in development activity, which is expected to result in an increase in future production.

 

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