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Caledonia Mining, Zimbabwe listed on Vfex

Gold mining giant Caledonia Mining Corporation has officially been listed on the Victoria Falls Stock Exchange, making it the third company to list on the foreign currency denominated bourse since its opening last year.

Caledonia, which operates Blanket mine, brings in more than 600 000 shares that are available for Zimbabweans. President Emmerson Mnangagwa presided over the listing ceremony. After a year of existence, the VFEX has under its listing, SeedCo International, Padenga Holdings and Caledonia. Mnangagwa said the listing of Caledonia is a sign of confidence investors are placing in the policies implemented by his government.

Commitment towards devolution

“The move also demonstrates our commitment towards devolution as the Offshore Financial Service Centre catapults Victoria Falls City from being just a tourist hub to an internationally recognisable offshore financial hub,” he said.

Caledonia Mining is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe. By 2022 the Company plans to increase its annual production to 80,000 ounces. The Company pays a quarterly dividend of 14 cents a share. The dividend has been increased 7 times & is a 104% increase from 6.875 cents announced in October 2019.

Caledonia is committed to evaluating investment opportunities and has entered into an option agreements to acquire the mining claims over  Maligreen and Connemara North in Zimbabwe. They have a strong, experienced management team and board of directors with diverse expertise in gold production, exploration, mine development, finance and marketing. The group’s management team is based in Johannesburg, South Africa, London, United Kingdom and Jersey, Channel Islands.

 

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