New York Stock Exchange-listed gold producer, Caledonia Mining Corporation has declared a quarterly dividend of US$0.14 on each of the Company’s shares for the quarter ended 31 March 2022.
Speaking on the announcement, the company CEO, Steve Curtis expressed that dividend will be an essential part of the strategy as the gold producer forages for other investment opportunities in the country.
“Our dividend continues to be a central part of our strategy as we seek to grow the business and derisk it from being a single asset producer.
“We continue to evaluate investment opportunities while balancing returning money to shareholders and investing in the Company’s growth,” said Curtis.
Currently, the company, which has been enjoying decent outputs from its sole Gwanda subsidiary, Blanket mine, is assessing recently acquired mining claims at Maligreen, Midlands province – estimated to host a NI 43-101 compliant inferred mineral resource of approximately 940,000 ounces of gold in 15.6 million tonnes at a grade of 1.88g/t.
Target production for this year is 73,000 to 80,000 ounces.
