Caledonia Mining Corporation Plc (CMCL)
Caledonia Mining: Bilboes Changes The Upside But Not The Risk
Caledonia Mining now presents a clearer upside, driven by improved cash generation and a more credible Bilboes project following its feasibility study. FY2025 results highlighted strong operating leverage to gold prices, with $62.1 million free cash flow, but Q1 2026 exposed operational and cost volatility. Bilboes could transform CMCL's scale, targeting 200,000 oz/year at $1,061/oz AISC, yet requires $484 million peak funding, introducing significant execution and dilution risks.
Caledonia Mining Q1 Earnings Call Highlights
Caledonia Mining NYSEAMERICAN: CMCL reported a weaker production quarter at its Blanket Mine in Zimbabwe, but management said higher gold prices helped lift revenue, earnings and cash generation while remediation efforts are beginning to improve mine performance.
Caledonia Mining Corporation Plc (CMCL) Q1 2026 Earnings Call Transcript
Caledonia Mining Corporation Plc (CMCL) Q1 2026 Earnings Call Transcript
Caledonia Mining shares edge higher as record gold price boost earnings
Shares in Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) rose 2.3% to 1,800p on Monday as investors weighed a first-quarter update in which record gold prices delivered strong financial results. Revenue rose 18.3% year-on-year to $66.43 million, EBITDA jumped 50.2% to $33.87 million and profit after tax climbed 69.4% to $18.91 million, all driven by an average realised gold price of $4,816 per ounce, up 66.3% on the same period last year.
Caledonia Mining reports 50% EBITDA surge helped by strong gold price
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL), the Zimbabwe-focused gold producer, lifted EBITDA by 50.2% to $33.87 million in the first quarter of 2026 as a surging gold price more than compensated for lower output at its Blanket mine. Revenue rose 18.3% to $66.43 million against the same period last year, while profit after tax jumped 69.4% to $18.91 million and free cash flow more than doubled to $12.28 million from $4.86 million.
Caledonia Mining details chair succession with July Ndlovu taking up the role next week
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) told investors that chairman John Kelly will step down from the role after next week's annual general meeting, with independent non-executive director July Ndlovu lined up to succeed him. The gold producer said the move forms part of its board succession plan.
Caledonia Mining expects recovery in volumes as 2026 progresses
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) told investors that first-quarter gold production at its Blanket Mine reduced, as expected, to 14,767 ounces, as a planned move through lower-grade areas was compounded by equipment availability issues and difficult ground conditions. The group said the weaker quarter had been anticipated, reflecting mining sequence and temporary access constraints to higher-grade, higher-volume zones.
Caledonia Mining says analysis of deep drilling has added confidence
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has told investors that deep-level drilling at its Blanket Mine in Zimbabwe has returned better-than-expected grades and widths in key zones, bolstering confidence in the mineral resource below the mine's current lowest levels. The group completed 10,311.9 metres of deep drilling between March and December 2025, targeting the Blanket, Eroica and Lima orebodies.
Caledonia Mining: Strong Buy As Long-Term Value Gets Unearthed (Upgrade)
I'm upgrading Caledonia Mining to Strong Buy, as the market underappreciates its significant milestones amid near-term volatility. CMCL has secured $150 million in convertible notes and hedged gold sales above current realized prices, de-risking the Bilboes project funding. Bilboes expansion positions the company to add 200,000 oz/year from 2029 following its development, with group CapEx guidance rising significantly to $178.9 million for 2026.
Caledonia Mining Corporation Plc (CMCL) Q4 2025 Earnings Call Transcript
Caledonia Mining Corporation Plc (CMCL) Q4 2025 Earnings Call Transcript
Caledonia Mining posts record profits as gold price surge triples cash flow
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) reported a near-tripling of annual profit after a surging gold price drove revenue up 46% to $267.7 million in 2025. The Zimbabwe-focused producer's total gold sales edged up to 79,075 ounces from 77,917 ounces, meaning the bulk of the earnings uplift came from price rather than volume, with the average realised gold price rising sharply against 2024 levels.
Caledonia Mining: Zimbabwe is "open for business"
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has released a highlights video from its Zimbabwe Mining Forum, after the company hosted around 150 mining executives, investors and officials for a Cape Town breakfast focused on the country's mining sector. Chief executive Mark Learmonth said the session enabled “a substantive dialogue between government and industry,” adding that the message from Zimbabwe's senior officials was clear: “the country is open for business.
