Caledonia Mining Corporation (CMCL)

[mortalmyth]

Disappointing 2013 earnings report.

Although there were a couple of positives such as their gold production cost per ounce decreasing and the next quarterly dividend to be distributed at next month's end, there were some negatives such as the writedown on the NAMA project and the gold ore composition differences at GG in Zimbabwe such that it's incompatible with the processes used by the MRP. Also, production growth at Blanket over the next 3 years is still too small, and the company seriously needs to pursue buying a distressed miner to help spread risk and diversify from Zim. Of course, the lower gold price in 2013 didn't help much either. As such, I give it a so-so year end summary.

Anyway, good day all.