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Caledonia Mining Corporation Plc

Caledonia Mining Corporation Plc

CMCL.L
Caledonia Mining Corporation PlcGB flagLondon Stock Exchange
1,880.00
GBp
+60.00
- -
363.08MMarket Cap
Caledonia Mining Corporation Plc
CMCL.L
(London Stock Exchange)

Recent

price

1,880.00

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
2.24
5.44
7.47
6.08
5.13
4.7
5.87
6.58
6.28
7.06
8.54
9.97
11.07
7.86
9.33
13.72
14.18
Revenue per Share
0.15
1.19
0.87
-0.29
0.43
0.46
0.81
0.88
0.99
1.98
1.61
1.43
0.88
-0.42
0.91
2.83
3.17
Basic EPS, GAAP
-0.07
0.87
2.17
0.11
0.46
-0.93
0.3
0.27
-0.23
-0.18
0.27
-0.57
-0.11
-0.84
0.54
2.06
2.44
Free Cash Flow per Basic Share
- -
- -
0.37
0.76
0.35
0.24
0.28
0.31
0.32
0.32
0.39
0.66
0.69
0.6
0.63
1.02
0.99
Dividend per Share
2.65
3.86
5.61
4.67
4.76
4.69
5.27
5.97
6.65
8.15
9.81
10.79
10.97
10.72
11.13
13.42
14.08
Book Value per Share
2.65
3.86
5.61
4.67
4.76
4.69
5.27
5.97
6.65
8.15
9.81
10.79
10.97
10.72
11.13
13.42
14.08
Tangible Book Value per Share
10
10
10
10
10
10
11
11
11
11
12
12
13
19
20
20
20
Basic Weighted Avg Shares
22
55
76
63
54
49
62
70
68
76
100
121
142
146
183
268
278
Sales/Revenue/Turnover
14.29
43.69
27.37
37.07
20.89
11.64
27.05
30.38
31.52
35.72
42.01
36.72
33.37
14.82
30.92
42.32
42.39
Operating Margin (%)
3
3
3
3
4
3
3
4
4
4
5
8
10
14
16
16
- -
Depreciation Expense
1
12
9
-3
4
5
9
9
11
21
19
17
11
-8
18
55
62
Net Income, GAAP
41.73
41.1
63.53
105.22
50.15
29.77
41.04
42.22
35.12
29.85
35.22
38.58
48.6
160.73
43.14
36.65
35.16
Effective Tax Rate (%)
6.5
21.78
11.59
-4.69
8.29
9.76
13.75
13.45
15.74
28.1
18.86
14.34
7.91
-5.37
9.78
20.63
22.37
Profit Margin (%)
2
13
26
27
27
15
16
12
16
20
35
35
6
14
16
35
178
Working Capital
- -
- -
- -
- -
- -
- -
2
- -
6
2
- -
- -
- -
6
10
6
104
LT Debt
26
39
56
49
50
50
59
69
79
100
131
152
158
224
234
284
299
Total Equity
8.52
41.83
15.51
-2.24
10.71
7.64
17.15
18.14
17.66
20.03
23.09
19.03
14.9
-6.26
12.58
24.79
21.97
Return on Invested Capital (%)
7.36
35.93
21.34
-10.29
5.96
8.49
10.63
10.37
10.21
18.26
12.69
9.13
4.71
-6.06
5.72
15.69
15.48
Return on Capital (%)
6.85
36.18
18.09
-5.58
9.02
9.7
16.32
15.79
16.1
26.94
18.26
13.56
8.07
-4.54
8.53
23.35
25.27
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
19
27
12
LT Borrowings
4
5
104
LT Finance Leases
1
1
1
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
19
19
19
Market Capitalization
69,298
51,171
43,396

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
88
95
227
Cash, Cash Equivalents & STI
34
41
170
Accounts Receivable, Net
11
8
9
Inventories
29
27
28
Total Current Liabilities
50
60
49
Payables & Accruals
28
24
36
ST Debt
19
27
12
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
19.37%
17.48%
20.93%
Free Cash Flow
5.84%
133.57%
277.24%
Net Income, GAAP
-14.26%
-66.45%
208.5%
Sales/Revenue/Turnover
19.26%
22.55%
46.25%
Total Cash Common Dividend
25.2%
37.07%
61.89%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
39
50
47
48
183
2025
56
65
71
75
268
2026
66
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.07
0.42
0.13
0.26
0.91
2025
0.45
1.06
0.77
- -
2.83
2026
0.8
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.13
0.15
0.2
0.16
0.63
2025
0.07
0.39
0.29
- -
1.02
2026
0.04
- -
- -
- -
- -
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Business
Caledonia Mining Corporation Plc engages in gold mining and exploration primarily in Zimbabwe. The company owns a 64% interest in the Blanket Mine, a producing underground gold mine; 100% of the Bilboes Sulphide Project, an advanced-stage open-pit gold development with proven and probable reserves of 1.96 million ounces; and 100% of the Motapa and Maligreen exploration properties, which offer potential resource expansions adjacent to Bilboes; it also completed the sale of its 12.2MWac solar plant to CrossBoundary Energy for $22.35 million in April 2025 while retaining power supply via a purchase agreement. Caledonia produces approximately 75,000-80,000 ounces of gold annually at Blanket, focusing on oxide and sulphide ore processing, underground development, tailings storage upgrades, and solar power integration to support operations. Founded in 2005 and headquartered in St Helier, Jersey, the company lists on the NYSE American (CMCL), AIM (CMCL), and VFEX (CMCL) and targets Zimbabwean greenstone belts for multi-asset growth. Recent developments include the January 2023 acquisition of Bilboes Gold Limited for shares and a 1% net smelter royalty; publication of a Preliminary Economic Assessment in June 2024 outlining 1.5 million ounces over 10 years at $968/oz AISC; ongoing optimization of the Bilboes Feasibility Study incorporating Motapa resources, modular tailings facilities, and potential concentrate sales to reduce capex, with first production eyed for late 2028; Q3 2025 revenue of $71.4 million up 52% year-over-year amid Blanket modernization; and a funding strategy emphasizing non-recourse debt, internal cash from Blanket, and flexible instruments like royalties to minimize equity dilution while maintaining a 14-cent quarterly dividend.