Caledonia Mining says it has raised $13 million from a share sale on the New York Stock Exchange to fund a 20MW solar plant at its Blanket Mine.
The company agreed with Cantor Fitzgerald & Co for the sale agent to sell 597,963 shares, £13 worth million of shares, in Caledonia Mining on the New York Stock Exchange. Caledonia applied to London Stock Exchange’s AIM market for a block admission of up to 800,000 new depositary interests, which represents the same number of shares in the company.
Caledonia Mining Corporation plc (LON:CMCL) is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe which produced 54,512 ounces of gold in 2018 at an All in Sustaining Cost of $802/oz.