Last $0.76 USD
Change Today +0.01 / 1.33%
Volume 3.9K
As of 2:02 PM 04/17/14 All times are local (Market data is delayed by at least 15 minutes).

caledonia mining corp (CALVF) Snapshot

Open
$0.74
Previous Close
$0.75
Day High
$0.76
Day Low
$0.74
52 Week High
05/1/13 - $1.24
52 Week Low
02/7/14 - $0.53
Market Cap
39.6M
Average Volume 10 Days
31.2K
EPS TTM
--
Shares Outstanding
52.1M
EX-Date
04/17/14
P/E TM
--
Dividend
$0.06
Dividend Yield
7.46%
Current Stock Chart for CALEDONIA MINING CORP (CALVF)

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caledonia mining corp (CALVF) Details

Caledonia Mining Corporation is engaged in the acquisition, exploration, and development of mineral properties primarily in South Africa. The company explores for gold, silver, base, and precious metals. It primarily holds 49% interest in the Blanket mine, a gold mine located in south-western Zimbabwe. The company was founded in 1992 and is headquartered in Toronto, Canada.

caledonia mining corp (CALVF) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: C$483.7K
Chief Financial Officer, Vice President of Fi...
Total Annual Compensation: C$279.2K
Vice President of Corporate Development & Inv...
Total Annual Compensation: C$176.8K
General Manager of Zimbabwe
Total Annual Compensation: C$262.9K
Vice President of Exploration, Member of Tech...
Total Annual Compensation: C$170.7K
Compensation as of Fiscal Year 2012.

caledonia mining corp (CALVF) Key Developments

Caledonia Mining Corporation Announces Production Update for the First Quarter Ended March 31, 2014

Caledonia Mining Corporation announced gold production from its 49% owned subsidiary, the Blanket Mine in Zimbabwe, for the quarter ended March 31, 2014. All production numbers are expressed on a 100% basis and are based on mine production data and are therefore subject to change following final assay at the refiner. 10,607 ounces of gold were produced during first quarter 2014 (10,472 ounces in first quarter of 2013), representing a 7.2% decrease on the gold produced in fourth quarter of 2013 (11,429 ounces). As advised in the 2013 results which were released on March 31, 2014 gold production in the first quarter of 2014 was affected by the achieved grade being lower than the targeted grade of 3.83 g/t Au. This was due to a sub-horizontal fault which was encountered at the AR South ore body between 680 and 695 meters below surface and which had displaced the ore zone to the west and south. Production on these panels was stopped and re-development was required to establish other panels at the required grade. Management believes that the above measures have been successful and that an average head grade of between 3.60 to 3.83 g/t Au is expected to be maintained, and closer attention will be paid to grade control in future. Production in February 2014 was also adversely affected by an unstable mains power supply and by the unscheduled requirement to replace the winding rope on No. 4 Shaft. Targeted gold production for 2014 is maintained at 48,000 ounces.

Caledonia Mining Corporation Declares Quarterly Dividend, Payable on April 30, 2014; Announces Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended December 31, 2013; Reaffirms Production Guidance for the Year 2014 and 2015

Caledonia Mining Corporation announced that the next quarterly dividend of 1.5 cents per share is expected to be paid on April 30, 2014. Notwithstanding the lower profits in the year, its total 2014 dividend of 6 cents per share is almost eight times covered by Caledonia's cash resources at December 31, 2013 and over four times covered by net cash flow from operations in the year to December 31, 2013. The company announced consolidated earnings and production results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported revenue of CAD 12,114,000 against CAD 17,612,000 a year ago. Loss from operating activities was CAD 10,177,000 against profit from operating activities of CAD 7,957,000 a year ago. Loss before income tax was CAD 10,075,000 against profit before tax of CAD 7,982,000 a year ago. Loss attributable to owners of the company was CAD 14,436,000 or CAD 27.7 cents per diluted and basic share against profit attributable to owners of the company of CAD 3,353,000 or 6.4 cents per diluted and basic share a year ago. Adjusted diluted and basic earnings per share were 0.2 cents against 6.0 cents a year ago. Cash from operating was CAD 2.8 million against CAD 8.0 million a year ago. Cash flow in fourth quarter was adversely affected by higher work-in progress at December 31, 2013. Cash flow in the year and the quarter was adversely affected by the lower realised gold price. For the year, the company reported revenue of CAD 65,113,000 against CAD 75,221,000 a year ago. Results from operating activities were CAD 9,515,000 against CAD 20,257,000 a year ago. Profit before income tax was CAD 9,407,000 against CAD 20,176,000 a year ago. Loss attributable to owners of the company was CAD 3,055,000 or CAD 6.1 cents per diluted and basic share against profit attributable to owners of the company of CAD 8,720,000 or 17.2 cents per diluted and basic share a year ago. Adjusted diluted and basic earnings per share were 28.3 cents against 49.9 cents a year ago. Net cash from operating activities was CAD 14,686,000 against CAD 29,721,000 a year ago. Property, plant and equipment additions were CAD 11,738,000 against CAD 7,909,000 a year ago. For the quarter, gold produced were 11,429 oz against 11,821 oz a year ago. Gold production in the fourth quarter of 2013 was adversely affected by a 3-day plant shut down for essential maintenance and a lower head grade. For the year, gold produced were 45,527 oz against 45,465 oz a year ago. The company announced that as previously advised production is expected to increase to 48,000 ounces in 2014 and 52,000 ounces in 2015.

Caledonia Mulls Acquisitions

Caledonia Mining Corporation (TSX:CAL) intends to make acquisitions. The company stated: “Caledonia’s primary strategy is to continue the existing investment programme at Blanket with the objective of increasing production. Caledonia believes the continuation of this strategy is in the best interests of shareholders because it is expected to increase cash flows and accelerate the repayment of the outstanding facilitation loans. Subject to an ongoing evaluation of the investment climate in Zimbabwe, Blanket and Caledonia will also consider additional acquisition opportunities in Zimbabwe on the basis of, inter alia, their fit with the existing operations and their capacity to enhance value for both Blanket's indigenous shareholders and Caledonia.”

 

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Price/Cash Flow 2.9x
TEV/Sales 0.3x
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