Caledonia Mining Company Plc: Third Quarter Manufacturing at Blanket Mine

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Manufacturing monitoring steering at Blanket Mine

ST HELIER, Jersey, Oct. 15, 2024 (GLOBE NEWSWIRE) — Caledonia Mining Company Plc (NYSE AMERICAN, AIM and VFEX: CMCL) (“Caledonia” or the “Firm”) pronounces gold manufacturing from the Blanket Mine in Zimbabwe (“Blanket”) for the quarter ended September 30, 2024 (“Q3 2024” or the “Quarter”). All manufacturing numbers are expressed on a 100 per cent foundation and are primarily based on the ultimate assay on the refiners.

Highlights

• Quarterly gold manufacturing of 18,992 ounces (Q3 2023: 21,772 ounces; this was a quarterly document for Blanket).
• Gold produced within the 9 months to the top of September was 56,815 ounces (2023: 55,244 ounces).
• Caledonia reiterates its gold manufacturing steering for 2024 of between 74,000 and 78,000 ounces¹.

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 Dividend

• As beforehand introduced, within the Firm’s final quarterly outcomes, to streamline board processes, future dividends are anticipated to be declared similtaneously the publication of quarterly outcomes (i.e. mid-March, Could, August, and November). This can imply that the Q3 2024 dividend, if permitted by the board, will likely be declared in mid-November reasonably than firstly of October.
• This alteration relates solely to the timing of future dividends and doesn’t denote any change within the Firm’s dividend coverage.
• The board will proceed to contemplate the dividend as acceptable in keeping with different funding alternatives and its prudent strategy to threat administration.

Craig James Harvey, MGSSA, MAIG, Caledonia’s Vice President, Technical Companies, has reviewed and permitted the scientific and technical data contained on this information launch. Craig James Harvey is a “Certified Individual” as outlined by every of (i) the Canadian Securities Directors’ Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives and (ii) sub-part 1300 of Regulation S-Okay of the U.S. Securities Act.

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Enquiries

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¹Refer to technical report “NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe” with efficient date December 31, 2023 ready by Caledonia Mining Company Plc and filed by the Firm on SEDAR+ (www.sedarplus.ca) on Could 15, 2024

Observe: The knowledge contained inside this announcement is deemed by the Firm to represent inside data below the Market Abuse Regulation (EU) No. 596/2014
(“MAR”)
because it varieties a part of UK home regulation by advantage of the European Union (Withdrawal) Act 2018
and is disclosed in accordance with the Firm’s obligations below Article 17 of MAR. 

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Cautionary Observe Regarding Ahead-Wanting Info
Info and statements contained on this information launch that aren’t historic information are “forward-looking data” inside the that means of relevant securities laws that contain dangers and uncertainties relating, however not restricted, to Caledonia’s present expectations, intentions, plans, and beliefs. Ahead-looking data can typically be recognized by forward-looking phrases reminiscent of “anticipate”, “consider”, “anticipate”, “objective”, “plan”, “goal”, “intend”, “estimate”, “might”, “ought to”, “could” and “will” or the damaging of those phrases or comparable phrases suggesting future outcomes, or different expectations, beliefs, plans, aims, assumptions, intentions or statements about future occasions or efficiency. The forward-looking data contained on this information launch is predicated, partially, on assumptions and elements that will change or show to be incorrect, thus inflicting precise outcomes, efficiency or achievements to be materially completely different from these expressed or implied by forward-looking data. Such elements and assumptions embrace, however should not restricted to: the profitable implementation of mine plans, the institution of estimated sources and reserves, the grade and restoration of minerals that are mined various from estimates, success of future exploration and drilling applications, reliability of drilling, sampling and assay information, the representativeness of mineralization being correct, success of deliberate metallurgical test-work, capital availability and accuracy of estimated working prices, acquiring required governmental, environmental or different challenge approvals, inflation, adjustments in alternate charges, fluctuations in commodity costs, delays within the growth of tasks and Caledonia’s expertise of challenge growth in Zimbabwe and different elements.

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To the extent any forward-looking data herein constitutes a monetary outlook or future oriented monetary data, any such assertion is made as of the date hereof and included herein to supply potential traders with an understanding of the Firm’s plans and assumptions. Safety holders, potential safety holders and different potential traders must be conscious that these statements are topic to identified and unknown dangers, uncertainties and different elements that might trigger precise outcomes to vary materially from these prompt by the forward-looking statements. Such elements embrace, however should not restricted to: dangers referring to estimates of mineral reserves and mineral sources proving to be inaccurate, fluctuations in gold value, dangers and hazards related to the enterprise of mineral exploration, growth and mining, dangers referring to the credit score worthiness or monetary situation of suppliers, refiners and different events with whom the Firm does enterprise; insufficient insurance coverage, or lack of ability to acquire insurance coverage, to cowl these dangers and hazards, worker relations; relationships with and claims by native communities and indigenous populations; political threat; dangers associated to pure disasters, terrorism, civil unrest, public well being considerations (together with well being epidemics or outbreaks of communicable ailments such because the coronavirus (COVID-19)); availability and growing prices related to mining inputs and labour; the speculative nature of mineral exploration and growth, together with the dangers of acquiring or sustaining essential licenses and permits, diminishing portions or grades of mineral reserves as mining happens; international monetary situation, the precise outcomes of present exploration actions, adjustments to conclusions of financial evaluations, and adjustments in challenge parameters to take care of unanticipated financial or different elements, dangers of elevated capital and working prices, environmental, security or regulatory dangers, expropriation, the Firm’s title to properties together with possession thereof, elevated competitors within the mining business for properties, gear, certified personnel and their prices, dangers referring to the uncertainty of timing of occasions together with focused manufacturing charge enhance and foreign money fluctuations. Safety holders, potential safety holders and different potential traders are cautioned to not place undue reliance on forward-looking data. By its nature, forward-looking data entails quite a few assumptions, inherent dangers and uncertainties, each common and particular, that contribute to the likelihood that the predictions, forecasts, projections and varied future occasions is not going to happen. Caledonia undertakes no obligation to replace publicly or in any other case revise any forward-looking data whether or not on account of new data, future occasions or different such elements which have an effect on this data, besides as required by regulation.

This information launch isn’t a suggestion of the shares of Caledonia on the market in the US or elsewhere. This information launch shall not represent a suggestion to promote or the solicitation of a suggestion to purchase, nor shall there be any sale of the shares of Caledonia, in any province, state or jurisdiction during which such supply, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of such province, state or jurisdiction.

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