TORONTO, ONTARIO--(Marketwired - Jan. 7, 2014) -
Caledonia Mining Corporation (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) -
Further to the November 25, 2013 announcement in respect of
Caledonia Mining Corporation's ("Caledonia" or the "Company")
dividend policy, Caledonia is pleased to announce that the Board
of Directors has declared a dividend of one and one half cents
($0.015) on each of the Corporation's common shares issued and
outstanding as of 5:00 p.m. Toronto local time on the Record Date,
being January 22, 2014.
The ex-dividend date will be January 20, 2014. Dividend cheques
will be mailed on January 31, 2014.
Shareholders who are registered in the United States of America and
the United Kingdom will be paid in US Dollar and Sterling
respectively.
The US Dollar and Sterling dividend payments will be calculated
using the relevant Bank of Canada exchange rates at noon on the
Record Date and will be after deduction of Canadian withholding
tax and any other taxes that may apply.
This dividend is an eligible dividend for the purposes of the
Income Tax Act (Canada).
Caledonia's Dividend Policy
Caledonia's long term strategy to maximize shareholder value
includes a quarterly dividend policy.
In 2014, the Company intends to pay an annual aggregate dividend
of 6 Canadian cents per common share,
payable on a quarterly basis.
About Caledonia Mining
Caledonia is a mining, exploration and development company focused
on Southern Africa.
Following the implementation of indigenisation in Zimbabwe,
Caledonia's primary asset is a 49% interest in an operating
gold mine in Zimbabwe ("Blanket").
Caledonia's shares are listed in Canada on the Toronto Stock
Exchange as "CAL", on London's AIM as "CMCL" andblue are also traded
on the American OTCQX as "CALVF".
Caledonia is debt-free and at September 30, 2013 had gross cash of
over $25m blueoutside Zimbabwe. Blanket mine is a low-cost producer:
in the quarter ended September 30, 2013, Blanket's on-mine costs
were US$554 per ounce of gold produced, its all-in sustaining cost
was US$873 per ounce of gold and its all-in cost (which includes
the investment in expansion projects) was US$999 per ounce.
Investment continues at Blanket with the objective of increasing
production to 48,000 ounces of gold in 2014 and
52,000 ounces of gold in 2015.
Blanket also continues to make substantial investments in its
exploration and development projects as a result of which
gold production may, in due course,
increase above 52,000 ounces per annum.
Cautionary Note Concerning Forward-Looking Information
Information and statements contained in this news release that are
not historical facts are "forward-looking information" within any
forward-looking information whether as a result of new
information, future events or other such factors which affect this
information, except as required by law. There is no guarantee that
Caledonia will maintain the Dividend Policy.
http://www.caledoniamining.com/pdfs/01072014.pdf
Caledonia Mining Corporation
Mark Learmonth
+27 11 447 2499
marklearmonth@caledoniamining.com
Numis
John Prior/Jamie Loughborough/ James Black
+44 20 7260 1000
Blythe Weigh
Tim Blythe/Halimah Hussein/Camilla Horsfall
+44 20 7138 3200
WH Ireland
Adrian Hadden/Nick Field
+44 20 7220 1751
http://www.caledoniamining.com
http://web.tmxmoney.com/article.php?newsid=64916668&qm_symbol=CAL
http://www.brrmedia.co.uk/event/119251/
http://www.caledoniamining.com/pdfs/CALPres-12042013.pdf
God Bless
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