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Caledonia plans output upsurge

By Robert Tyerman | Saturday 24 January 2015


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


Undaunted by missing its targets for gold production in Zimbabwe during 2014, AIM-quoted Caledonia Mining Corporation  (CMCL) is hoping a US$70 million (£46 million) six-year investment programme will hoist output from the central African country’s Blanket mine from a flat anticipated 42,000 oz. this year to between 60,000 and 65,000 oz. in 2017, with a 75,000 oz. aspiration for 2020. Many regard Zimbabwe under its current regime as still a pariah state, but Toronto-based Caledonia insists it now offers rich pickings and suggests it looks more stable than South Africa.


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