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Monday, February 20, 2012 7:28:30 PM
![smile](/images/emoticon01.gif)
you have to do your own dd....
but my opinion is after fast reading the N/R only
the following -
(but please do your own and tell me what your opinion is
![smile](/images/emoticon01.gif)
TIA....
![](http://www.tmx.com/en/images/logos/callogo.gif)
![](http://www.caledoniamining.com/images/Home2_V2.jpg)
TORONTO, Feb. 20, 2012 /CNW Telbec/ -
well, Caledonia Mining Corporation (CALVF) is a well diversified
mining corporation
![smile](/images/emoticon01.gif)
The CAL N/R stating -
snippet;
Caledonia has agreed to sell 51% of the Blanket Mine
in Zimbabwe ("Blanket") to Indigenous
Zimbabweans for a paid transactional value of
US$30.09 million on the following basis: etc.
Note
CALVF Total Current Market Cap: $55,060,421.--
[A subsidiary company; (if my memo is right?)
Blanket Gold Mine 51% = US$30.09 million on the above
following basis:]
http://tmx.quotemedia.com/quote.php?qm_symbol=CAL ?)
Note --
Further details of the MoU are subject to a confidentiality
agreement, and further announcements will be made when
appropriate. ???
Blanket's unaudited revenues and profit after tax for the year
to December 31, 2011 were US$56.6 million and US$19.2 million
respectively.
Mr Stefan Hayden, Caledonia's President and Chief Executive
officer said:
"I am pleased we have signed a MoU which, when fully
implemented, will represent the conclusion of the
indigenisation requirements for Blanket.
The transaction will be concluded for a value which is close
to Caledonia's current market capitalisation.
This is a significant achievement in the current environment
and the transaction is neither an expropriation nor a partial
nationalisation.
Excellent progress has been made at Blanket in recent years:
gold production has increased by over 300% from 3,148oz in
the first quarter of 2010 to 10,533oz in the fourth quarter
of 2011 and cash operating costs fell by 27% from $804/oz
in the first quarter of 2010 to $583/oz in the third quarter
of 2011.
I hope that Blanket and Caledonia can now build on this track
record of success.
The indigenisation agreement, when fully implemented, will
introduce new shareholders to Blanket and I am confident
that their participation will enhance Blanket's further
growth and development.
We look forward to working with our new shareholders in
further progressing operations at Blanket for the benefit
of all stakeholders."
Caledonia Mining Corporation
Mark Learmonth
Tel: + 27 11 447 2499
marklearmonth@caledoniamining.com
Renmark Financial Communications Inc.
John Boidman: jboidman@renmarkfinancial.com
Nadia Marks: nmarks@renmarkfinancial.com
Tel.: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com
Newgate Threadneedle Communications
Laurence Read, tel +44 207 653 9855
Beth Harris, tel +44 207 653 9853
Terry Garrett, tel +44 207 653 9845
Collins Stewart Europe Limited
John Prior / Sebastian Jones
Tel: + 44 20 7523 8350
Collins Stewart LLC
Dan Mintz
Tel: +1 212 389 8022
DMintz@collinsstewartllc.com
Further information regarding Caledonia's exploration activities
and operations along with its latest financials and Management
Discussion and Analysis may be found at
http://www.caledoniamining.com
http://tmx.quotemedia.com/article.php?newsid=48600192&qm_symbol=CAL
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=72213549
God Bless
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