Caledonia Mining Corporation (CMCL)

[NYBob]

chevy56 confidence: Caledonia Mining Corporation (CALVF -

http://www.caledoniamining.com/pdfs/April%202016_Final.pdf

http://www.caledoniamining.com/pdfs/2015%20Q4%2020032016.pdf


Caledonia Mining's website under Investor Research:

ex.
http://www.caledoniamining.com/pdfs/CA12932K2020CaledoniaUpdate040416.pdf

Edison forecasts a calendar year 2016 profit of 23.5 cents per share,
and a 2017 profit of 46.6 cents per share for Caledonia Mining
stock under IFRS.

My estimate for 2016 profit is 14.2 cents based on Q2 gold production
of 10970 ounces, Q3 gold production of 13,100 ounces and
Q4 gold production of 14,930 ounces.
I see CALVF making 1.4 cents in Q2, 5.1 cents in Q3, and
6.6 cents in Q4, and those numbers are
profit attributable to shareholders.

For operating cost in the future I am using the PEA cost figures
per tonne of ore rather than the actual costs from the financial
reports.
Actual costs have been running $1-2 million per quarter under
projected PEA costs, so maybe Edison's higher profit number
will pan out.

I am waiting to see a quarter to quarter ramp up in gold production.
So far nothing but crickets chirping in the night...

Here's the link to my production estimate for the next 7 calendar quarters:

http://postimg.org/image/d1szotigr/


My estimate for Caledonia Mining's profit in 2017 is 49 cents per share,
so I am in agreement with Edison's 46.6 cent per share number for 2017.
I think that is a fairly reasonable estimate, given Caledonia Mining's
anticipated production ramp over the next several years.
by ganndolph

http://www.caledoniamining.com/index.php/investors/research

http://www.caledoniamining.com/



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