Caledonia Mining's 2023 profits knocked by one-offs

The Zimbabwean gold miner is growing, but was buffeted by operational difficulties and higher costs

March 28, 2024

Quarterly payout kept at 14¢ a share
New acquisition Bilboes proved a drag on profits last year

Caledonia Mining Corporation (CMCL) is in an awkward growth moment, undershooting production guidance for 2023 and reporting far lower profit numbers despite the strong gold price last year. The company operates one mine in Zimbabwe, and bought another last January.

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