Caledonia Mining Corporation Plc Announcement of gold support price for Zimbabwean gold miners
Caledonia Mining Corporation Plc Common Shares (CMCL)
NASDAQ:AMEX Investor Relations:
caledoniamining.com
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Source: GlobeNewswire
ST. HELIER, Jersey, May 13, 2019 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) notes the recent press statement from Fidelity Printers & Refiners in Zimbabwe (“Fidelity”) regarding the Gold Support Price. Caledonia’s operating subsidiary Blanket Mine (“Blanket”) sells its gold production to Fidelity in Zimbabwe and is contractually entitled to receive a price which is derived from the afternoon price fixed by the London Bullion Market Association (the “LBMA price”) the day after the bullion delivered has been assayed. The announcement by Fidelity states that to incentivize gold production in Zimbabwe it will pay an incentive price over and above the contractual purchase price. This incentive price will be $44,000 per kilogram ($1,368.55/ounce), a premium of approximately $86/ounce (6.7%) on the current prevailing LBMA Spot price. At this stage it is unclear how long the gold support price will remain in place, how, when and by what rationale i
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CMCL
Sec Filings
- 12/17/24 - Form 6-K
- 12/17/24 - Form 424B5
- 12/17/24 - Form FWP
- CMCL's page on the SEC website