Research analysts who have asked questions during Caledonia Mining Corp earnings calls.
Recent press releases and 8-K filings for CMCL.
Caledonia Mining Corporation Plc reports BlackRock, Inc. increased its significant shareholding
CMCL
- Caledonia Mining Corporation Plc announced that it received notification on January 23, 2026, from BlackRock, Inc. regarding a relevant change in its significant shareholding.
- BlackRock, Inc. crossed a notification threshold on January 22, 2026, due to an acquisition or disposal of voting rights and financial instruments.
- As a result, BlackRock, Inc.'s total voting rights in Caledonia Mining Corporation Plc reached 7.45%, representing 1,439,059 voting rights, an increase from its previous position of 6.20%.
Jan 27, 2026, 11:00 AM
Caledonia Mining Secures US$150 Million Convertible Notes for Bilboes Gold Project
CMCL
Debt Issuance
New Projects/Investments
- Caledonia Mining has secured US$150 million from a convertible senior notes offering, upsized from an initial US$100 million, as part of a four-part funding plan for its Bilboes gold project.
- The Bilboes project holds estimated reserves of 1.75–1.96 million ounces and is projected to achieve a steady-state output of approximately 200,000 ounces annually from 2029, with an estimated 11-year mine life.
- The comprehensive funding plan also includes a December 2025 gold-price hedging program, an interim facility of up to US$150 million targeted by mid-2026, and a project-finance process commencing in Q1 2026.
- Reuters characterized the US$150 million convertible note raise as a rare international capital raise for Zimbabwe, underscoring its significance.
Jan 21, 2026, 12:57 PM
Caledonia Mining Corporation Plc outlines funding strategy for Bilboes gold project
CMCL
Debt Issuance
New Projects/Investments
- Caledonia Mining Corporation Plc has outlined a four-part funding strategy to advance the Bilboes gold project in Zimbabwe.
- The strategy includes a successfully closed US$150 million Convertible Notes Offering, which yielded approximately US$130 million in net proceeds after underwriting fees, issuance expenses, and the cost of capped call options.
- A gold price hedging program was implemented in December 2025, securing a minimum gold price of US$3,500 per ounce for 3,000 ounces per month from January 2026 to December 2028.
- The company is also arranging an interim funding facility of up to US$150 million, expected to be in place by mid-2026, and will commence a formal project finance process in Q1 2026.
- This funding approach aims to maintain adequate liquidity and enable the procurement of long-lead equipment for the Bilboes gold project in Q3 2026.
Jan 21, 2026, 11:02 AM
Caledonia Mining Plc Notifies Change in BlackRock's Significant Shareholding
CMCL
- Caledonia Mining Corporation Plc received notification from BlackRock, Inc. on January 19, 2026, regarding a relevant change to its significant shareholding.
- The change occurred on January 16, 2026, when BlackRock, Inc. crossed a notification threshold due to an acquisition or disposal of voting rights and financial instruments.
- As a result, BlackRock, Inc.'s total voting rights in Caledonia Mining Plc increased to 6.20%, representing 1,197,834 voting rights, up from 5.81% previously.
- This change was driven by an increase in voting rights attached to shares to 5.63% (1,088,324 shares) and a decrease in voting rights through financial instruments to 0.56% (109,510 shares).
Jan 21, 2026, 11:00 AM
Caledonia Mining Announces BlackRock's Change in Significant Shareholding
CMCL
- BlackRock, Inc. notified Caledonia Mining Corporation Plc on January 16, 2026, of a relevant change in its significant shareholding, having crossed a notification threshold on January 15, 2026.
- As of January 15, 2026, BlackRock, Inc.'s total voting rights in Caledonia Mining Corporation Plc increased to 5.81%, representing 1,122,249 voting rights, compared to 5.37% in the previous notification.
- This change reflects a decrease in voting rights directly attached to shares from 5.02% to 4.12%, while voting rights through financial instruments significantly increased from 0.34% to 1.68%.
Jan 20, 2026, 11:43 AM
Caledonia Mining Corporation Plc announces closing of $150 million convertible senior notes offering
CMCL
Debt Issuance
- Caledonia Mining Corporation Plc has closed an upsized offering of $150 million in 5.875% Convertible Senior Notes due 2033, which included the full exercise of the initial purchasers' option for an additional $25 million.
- The Notes bear a 5.875% cash interest coupon payable semi-annually and will mature on January 15, 2033.
- The conversion price is approximately $40.51 per common share, representing a 25% premium to the last reported sale price on January 14, 2026.
- To mitigate potential economic dilution, the company purchased cash-settled capped call options for approximately $14.4 million, with a cap price of approximately $56.72.
Jan 20, 2026, 11:01 AM
Caledonia Mining Corporation Plc Prices Upsized $125 Million Convertible Senior Notes Offering
CMCL
Debt Issuance
New Projects/Investments
- Caledonia Mining Corporation Plc announced the pricing of an upsized $125 million aggregate principal amount of 5.875% Convertible Senior Notes due 2033 in a private placement.
- The Notes will mature on January 15, 2033, and will accrue interest at a rate of 5.875% per year, payable semiannually in arrears starting July 15, 2026.
- The estimated net proceeds of approximately $120.2 million will be used to pay for capped call transactions and to provide financial flexibility for developing the Bilboes gold project and general corporate needs.
- The initial conversion rate is 24.6837 Common Shares per $1,000 principal amount of Notes, equivalent to an initial conversion price of approximately $40.51 per Common Share.
Jan 15, 2026, 11:00 AM
Caledonia Prices Upsized Convertible Senior Notes, Shares Decline
CMCL
Debt Issuance
New Projects/Investments
- Caledonia priced an upsized private placement of $125 million of 5.875% convertible senior notes due 2033, up from an originally announced $100 million offering.
- The estimated net proceeds of approximately $120.2 million will be used to fund capped-call costs, provide financial flexibility, and advance the Bilboes gold project, with about $132 million planned for investment in Bilboes this year.
- The notes are convertible at approximately $40.51 per share, and the company has entered into capped-call transactions to mitigate dilution.
- The pricing of the notes prompted a sharp share-price decline, with Caledonia shares falling about 19% to $26.26.
Jan 14, 2026, 9:15 PM
Caledonia Mining Corporation Plc Announces Proposed Convertible Senior Notes Offering
CMCL
Debt Issuance
New Projects/Investments
Convertible Preferred Issuance
- Caledonia Mining Corporation Plc announced its intention to offer $100 million aggregate principal amount of Convertible Senior Notes due 2033 in a private placement.
- The company also intends to grant the initial purchasers an option to purchase up to an additional $20 million aggregate principal amount of notes.
- The net proceeds from the offering are expected to be used to pay for capped call transactions and to provide financial flexibility for developing the Bilboes gold project in Zimbabwe, alongside general corporate, operational, and working capital needs.
Jan 14, 2026, 9:06 PM
Caledonia Mining Corporation Plc Announces Q4 and FY 2025 Production and FY 2026 Guidance
CMCL
Guidance Update
New Projects/Investments
Earnings
- Caledonia Mining Corporation Plc's Blanket Mine achieved FY 2025 gold production of 76,213 ounces, meeting its increased guidance range of 75,500 – 79,500 ounces.
- For FY 2026, the company projects Blanket gold production guidance to be between 72,000 – 76,500 ounces.
- FY 2026 cost guidance includes an on-mine cash cost of US$1,500 to US$1,700 per ounce sold and an All-in sustaining cost (AISC) of US$2,100 to US$2,300 per ounce sold, reflecting higher costs due to inflation and increased operating expenses.
- Total Group capital expenditure for FY 2026 is projected at US$162.5 million, with US$135.9 million allocated to growth capital, predominantly for the Bilboes development project (US$132 million).
Jan 14, 2026, 11:02 AM
Quarterly earnings call transcripts for Caledonia Mining Corp.
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