Victoria Falls Stock Exchange (VFEX) listed mining company, Caledonia Mining Corporation Plc, has announced that Allan Gray Proprietary Limited, one of Africa’s largest privately-owned and independent investment management companies, a significant shareholder, has notified the company of a change in its shareholding.
The change affects the company’s issued share capital, with clients of Allan Gray Proprietary Limited now holding a total interest of 6.445% from 5.99%.
The notification was made in accordance with the AIM Rules for Companies, which require significant shareholders to disclose changes in their shareholdings.
The change is attributed to two related investment funds, Allan Gray Africa Equity Fund Limited and Allan Gray Africa Ex SA Equity Fund Limited, which hold shares on behalf of multiple clients of Allan Gray Proprietary Limited.
Caledonia Mining Corporation Plc is a mining company listed on the New York Stock Exchange, AIM and VFEX exchanges.
As a result of this change, clients of Allan Gray Proprietary Limited now hold a total of 6.445% of Caledonia Mining Corporation Plc’s issued share capital.
Caledonia has 19,194,525 common shares issued. The Directors and management own or have an interest in 2,866,352 common shares representing 15% of Caledonia’s issued capital.
Toziyana Resources Limited is one of the key shareholders with 2,411,186 shares representing 12.56% of share capital.
Shining Capital Holdings II L.P has 1,922,858 shares representing 10.02%.
Caledonia Mining Corporation Plc, is a Zimbabwe-focused corporation that operates in the exploration, development, and mining sectors.
The Company’s portfolio includes a 64% stake in the gold-producing Blanket Mine, as well as a 100% interest in the Bilboes mine and the Motapa and Maligreen gold mining claims, all located in Zimbabwe.
Last week, the company reported robust gold production results for the second quarter and half year ended June 30, 2024, from its flagship Blanket Mine.
Gold production at the mine for Q2 2024 was 20,773 ounces, representing a 19% increase compared to the same quarter in 2023. For the half year ended June 30, 2024, gold production at Blanket Mine was 37,823 ounces, a 13% increase compared to the first half of 2023.
The company reiterated its 2024 gold production guidance at Blanket of 74,000 to 78,000 ounces.
CEO Mark Learmonth said, “Blanket Mine continues to provide a solid foundation for growth as we prepare to become a multi-asset gold producer. Production in the first half of 2024 was excellent and has exceeded our expectations”.
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