Caledonia Mining

Caledonia Mining Corporation Plc

Fatal accident at Blanket Mine

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

St Helier September 23, 2024 - it is with regret that Caledonia Mining Corporation Plc ("Caledonia") reports that an accident took place on September 21, 2024 at the Blanket Mine in Zimbabwe, where an employee was hit by a fall of rock while drilling in a development area and as a result has sadly died.

Management at Blanket Mine are assisting the relevant authorities in their enquiry into this accident.

Caledonia expresses its condolences to the family and colleagues of the deceased.

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Caledonia Mining Corporation Plc

Notification of relevant change to significant shareholder

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

September 30, 2024: Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on September 26, 2024 from BlackRock, Inc. that on September 25, 2024 it had crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies).

A copy of the notification is below.

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Caledonia Mining Corporation Plc

Transaction to sell solar plant

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

St Helier, October 1, 2024 - Caledonia Mining Corporation Plc ("Caledonia" or "the Company") is pleased to announce that it has signed a conditional sale agreement for the entire issued share capital of its Zimbabwe subsidiary, Caledonia Mining Services (Private) Limited ("CMS"), which owns and operates the 12.2MWac solar plant that supplies power to Blanket Mine. CMS is to be sold to CrossBoundary Energy Holdings ("CBE") for $22.35 million, payable in cash, and the power generation of the solar plant will continue to be sold to Blanket Mine by way of a power purchase agreement.

Highlights

·    Upon completion of the sale, Caledonia will realise a profit on the $14.3 million construction cost by selling the plant for $22.35 million.

·     Completion of the sale will return capital to Caledonia at a key moment in the Company's growth trajectory.

·   Caledonia will retain the exclusive energy off take, ensuring approximately a fifth of Blanket Mine's daily electricity requirement continues to be met by renewable power.

·   CBE has been invited to tender for an expansion of the solar plant to deliver further renewable energy to Blanket Mine.

The construction of the solar plant was initially financed by a registered offering of Caledonia's shares in the US in 2020 and this raised $13 million through the issue of 597,963 shares.

Since commissioning in February 2023, the solar plant has generated over 47,350Mwh of power, and profits attributable to the solar plant for the year ended December 31, 2023 were $728,023. The power generated from the solar plant has significantly reduced the use of diesel generators and grid power at Blanket Mine, ensuring approximately a fifth of the mine's daily electricity needs are met by solar power. The plant will continue to supply Blanket Mine under an exclusive power purchase agreement.

The sales consideration will be reinvested in Caledonia's other projects that are expected to yield a higher return to our shareholders and will have the added benefit of focussing management's attention on our core business of gold mining and exploration.

CrossBoundary Energy is a leading developer, owner and operator of distributed renewable energy solutions for businesses across Africa, providing cheaper and cleaner energy through power purchase and lease agreements. CBE provides tailored, fully financed renewable energy solutions to its corporate customers allowing them to avoid upfront capital expenditure and technical risks, whilst still benefitting from cheaper, cleaner, and more reliable power. Through close collaboration with its partners, CBE provides renewable energy solutions that adapt to the needs of their clients including designing, building, financing, and maintaining renewable energy installations.

CBE was launched by the CrossBoundary Group, a mission-driven investment firm, in 2015 as Sub-Saharan Africa's first provider of fully financed commercial-industrial solar solutions. It currently operates in over fourteen African countries and has a large portfolio of renewable energy infrastructure projects across the continent. In addition to mining, CBE's clients include leading local manufacturers and multinational corporations such as Diageo, Heineken, and Unilever. Completion of the purchase is subject to various conditions precedent, including obtaining local regulatory approvals and the installation of some upgraded equipment, which are anticipated to take a few months to satisfy.

Commenting on the announcement, Mark Learmonth, Chief Executive Officer, said:

"We are pleased to have signed this agreement to sell the solar plant which, upon completion, will enable us to redeploy capital to our core business of mining.

"Whilst the sale will generate an immediate profit for the Company, more importantly we have identified an experienced partner in CBE which brings vast expertise in delivering and running renewable energy projects.

"We look forward to developing a strong relationship with CBE - we are already working with them to deliver a meaningful extension to the plant, and we will be considering renewable energy solutions at our other development projects in due course."

Matthew Tilleard, Managing Partner at CrossBoundary Energy, said:

"CrossBoundary Energy's mission is to provide affordable, clean power solutions to underserved markets, and we achieve this by deploying capital into energy projects that enable businesses to focus on their core operations. Our partnership with Caledonia demonstrates the efficacy of this model for the mining sector, benefiting the mine's operations and ultimately enabling sustainable mining. We look forward to pursuing these acquisitions with miners across the continent."

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Caledonia Mining Corporation Plc

(NYSE American: CMCL; AIM: CMCL; VFEX: CMCL)

Issue of Securities

St Helier, October 1, 2024:  Further to the announcement made by Caledonia Mining Corporation Plc ("the Company" or "Caledonia") on April 10, 2024 relating to the issue of awards under the Company's 2015 Omnibus Equity Incentive Compensation Plan (the "Plan"), Caledonia announces that an award of Restricted Share Units made to James Mufara, the Chief Operations Officer, vested on September 30, 2024.

A total of 14,694 common shares of no par value in the Company are being issued, in the form of depositary interests in respect of such shares, pursuant to the vesting of such award.  Mr Mufara's resulting interest in the share capital of the Company, following issue of such shares, will be 0.076%.  

Further details of the issue of securities are set out in the notification below.

Application has been made by Caledonia for the admission of depositary interests representing the issued shares to trading on AIM and it is anticipated that trading in such securities will commence on or about October 4, 2024. Following issue of the shares, the Company will have a total number of shares in issue of 19,214,554 common shares of no par value each. Caledonia has no shares in treasury; therefore, this figure may be used by holders of securities in the Company as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company.

For further information please contact:

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Caledonia Mining Corporation Plc

Third Quarter Production at Blanket Mine

Production tracking guidance at Blanket Mine

(NYSE AMERICAN, AIM and VFEX: CMCL)

St Helier, October 15, 2024 - Caledonia Mining Corporation Plc ("Caledonia" or the "Company") announces gold production from the Blanket Mine in Zimbabwe ("Blanket") for the quarter ended September 30, 2024 ("Q3 2024" or the "Quarter"). All production numbers are expressed on a 100 per cent basis and are based on the final assay at the refiners.

Highlights

·    Quarterly gold production of 18,992 ounces (Q3 2023: 21,772 ounces; this was a quarterly record for Blanket).

·    Gold produced in the nine months to the end of September was 56,815 ounces (2023: 55,244 ounces).

·     Caledonia reiterates its gold production guidance for 2024 of between 74,000 and 78,000 ounces[1].

 Dividend

·   As previously announced, in the Company's last quarterly results, to streamline board processes, future dividends are expected to be declared at the same time as the publication of quarterly results (i.e. mid-March, May, August, and November). This will mean that the Q3 2024 dividend, if approved by the board, will be declared in mid-November rather than at the start of October.

·    This change relates only to the timing of future dividends and does not denote any change in the Company's dividend policy.        

·   The board will continue to consider the dividend as appropriate in line with other investment opportunities and its prudent approach to risk management.

Craig James Harvey, MGSSA, MAIG, Caledonia's Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this news release. Craig James Harvey is a "Qualified Person" as defined by each of (i) the Canadian Securities Administrators' National Instrument 43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300 of Regulation S-K of the U.S. Securities Act.

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Caledonia Mining Corporation Plc

Notice of Results and Investor Presentation

(NYSE AMERICAN, AIM and VFEX: CMCL)

St Helier, November 4, 2024 - Caledonia Mining Corporation Plc ("Caledonia" or the "Company") expects to publish its operating and financial results for the quarter ended September 30, 2024 on Monday November 11, 2024.

A remote presentation for analysts and investors will be held on the same day, at 2:00pm London time, followed by an opportunity to ask questions.

A presentation of the results for the quarter and outlook for Caledonia will be available on Caledonia's website (www.caledoniamining.com).

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Caledonia Mining Corporation Plc

Notification of relevant change to significant shareholder

(NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL)

November 8, 2024: Caledonia Mining Corporation Plc ("Caledonia" or "the Company") announces that it received notification on November 7, 2024 from BlackRock, Inc. that on November 6, 2024 it had crossed a threshold for notification of a relevant change (as defined by the AIM Rules for Companies).

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