Caledonia Mining Corporation (CMCL)

[NYBob]

Caledonia Mining Corporation -
www.caledoniamining.com



Caledonia Mining Corporation - Caledonia is an African focused
Gold mining and exploration company with an operating
Blanket Gold Mines in Zimbabwe, a copper-cobalt exploration
project in Zambia and two platinum-nickel exploration projects
in South Africa.

Caledonia is listed on the TSX (CAL) and on AIM London (CMCL) and its shares are traded on the NASDAQ-OTCQX (CALVD).

UPDATE: Caledonia Mining boosts gold production at Blanket
By Jamie Nimmo April 10 2013, 1:27pm


Caledonia's plan is to lift gold production to 76,000 ounces a year by 2016

-Adds broker comment---
Caledonia Mining (LON:CMCL, TSE:CAL) has posted a 14% increase in
quarterly gold production from its Blanket mine in Zimbabwe.

The company produced 10,463 ounces of gold in the first quarter,
up from 9,155 ounces in the same period last year.

Caledonia’s president and chief executive, Stefan Hayden, said:
“Gold production reported in Q1 reflects production up to cut-off
for the quarter, which was on 26th March due to the early incidence
of Easter and therefore reflects only 84 working days.

“The daily rate of production achieved in the quarter was
slightly ahead of target.”

Caledonia said gold production for the quarter is subject to minor
revisions after receiving final assays for the last
two deliveries to Rand Refineries.

The company’s plan is to lift gold production to 76,000 ounces
a year by 2016, having pulled in 45,465 ounces in 2012.

It recently pledged to continue to declare dividends on at least
an annual basis, after opening its account with a maiden
dividend of half a Canadian cent.

Analyst Dmitry Kalachev, at broker Canaccord Genuity, noted that
2013 is a "transformational" year as the company prepares for
this substantial increase in production.

The broker keeps its 'buy' rating and 16 pence-a-share net asset
value derived price target (current price: 8.625p).

"Our valuation excludes any potential production from
the satellite deposits and further upside from
the down-dip exploration below the 750 level at Blanket,"
says Kalachev.

"We estimate the company will have around US$60 mln in net cash
by the end of 2014, which almost equates to the current market
capitalisation," he adds.

http://www.proactiveinvestors.co.uk/companies/news/55641/update-caledonia-mining-boosts-gold-production-at-blanket-55641.html


CALVD NEWS 2012 2nd Dividend ~<) Christmas comes early - ~<)

http://www.caledoniamining.com/pdfs/04042013.pdf

CALVF changed to CALVD -

http://www.otcbb.com/asp/dailylist_detail.asp?d=04/11/2013&mkt_ctg=OTCBB
God Bless