How’s gold miner Caledonia Mining (LSE: CMCL) placed at the end of Q2 FY23

2 min read | September 05, 2023 01:18 AM PDT | By Team Kalkine

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How’s gold miner Caledonia Mining (LSE: CMCL) placed at the end of Q2 FY23 — Image source: Shutterstock

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Highlights

Caledonia Mining Corporation recorded a total gold production of 18,512 oz at the Blanket Mine in Q2 2023, as compared to 16,141 oz in the previous quarter.

Its net cash and cash equivalents dropped to USD 2.9 million at the end of June 2023.

In FY22, CMCL’s Gross Revenue had witnessed a year-on-year growth of 17.4% to USD 142 million.

FTSE AIM All-share listed Caledonia Mining Corporation PLC (LSE:CMCL) is a gold producer with a growth profile and cash generative business.

In the second quarter of the year 2023, CMCL recorded a total gold production of 18,512 oz (ounces) at the Blanket Mine, as compared to 16,141 oz in the previous quarter. Also, its production jumped to 1,076 oz at Bilboes Oxides during Q2 FY23, versus 105 oz in Q1 FY23. However, Caledonia Mining’s top-line business stood flat at USD 37 million in Q2 FY23. Its net cash and cash equivalents dropped to USD 2.9 million at the end of June 2023.

In the fiscal year 2022, CMCL’s Gross Revenue had witnessed a year-on-year growth of 17.4% to USD 142 million. This growth can be attributed to increased quantity of gold sold at a higher average realized sales price in FY22.

Top 10 shareholders
Approximately 46.77% of the shares of the firm are held by its top ten shareholders. While Toziyana Trust owns 11.88% shareholding in the company, Allan Gray Proprietary Limited holds nearly 11.28% shareholding.

Stock Price Performance

CMCL stock has dropped by about 21.42% in the last three months. It has decreased by 25.67% in the last six months. The stock’s 52-week low and high price are at GBX 766.00 and 1,380.00, respectively.

Please note markets are trading in a highly volatile zone currently due to certain macro-economic and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 01 September 2023. The reference data in this report has been partly sourced from EODHD/Others.

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