The dividends an individual receives from Canadian corporations are "grossed up" by 25%. This amount is then included on their income tax form as taxable income. Both Canadian federal and provincial governments then grants individuals a tax credit, equal to a percentage of the grossed up amount. This helps to reduce the actual tax payable.
Description Caledonia Mining Corporation (Caledonia) is an exploration, development and mining corporation focused on Southern Africa.
The Company’s primary assets are an operating gold mine in Zimbabwe the Blanket Mines -
Caledonia holds four, contiguous large scale mining licenses covering approximately 800 square kilometers on the Zambian Copperbelt.
NAMA which is a base metals exploration project in Zambia (the Nama Property) and
two platinum and base metal (PGE) projects in South Africa (Rooipoort and Mapochs).
The Company operates in four segments: Corporate, Zimbabwe, South Africa and Zambia. During the year ended December 31, 2012, drilling programme at the 100% owned Nama Base Metals Projects in Zambia, comprised 10,903 meters over 20 holes and confirmed the existence of the copper-bearing mineralized zone identified in 2011.
FULL DESCRIPTION Caledonia Mining Corporation (Caledonia), incorporated on March 19, 1995, is an exploration, development and mining corporation focused on Southern Africa.
The Company’s primary assets are an operating gold mine in Zimbabwe the Blanket Gold Mines -
Caledonia holds four, contiguous large scale mining licenses covering approximately 800 square kilometers on the Zambian Copperbelt.
NAMA which is a base metals exploration project in Zambia (the Nama Property) and
two platinum and base metal (PGE) projects in South Africa (Rooipoort and Mapochs).
The Company operates in four segments: Corporate, Zimbabwe, South Africa and Zambia. During the year ended December 31, 2012, drilling programme at the 100% owned Nama Base Metals Projects in Zambia, comprised 10,903 meters over 20 holes and confirmed the existence of the copper-bearing mineralized zone identified in 2011.
The Company owns 100% of the shares in Caledonia Mining (Zambia) Limited, Blanket (Barbados) Holdings Limited, Caledonia Western Limited, Caledonia Holdings (Africa) Limited, Caledonia Nama Limited (Nama), Caledonia Kadola Limited, which are located in Zambia and Barbados.
Its South Africa-based subsidiaries include Eersteling Gold Mining Company Limited, Greenstone Management Services (Pty)Limited, Fintona Investments (Pty) Ltd, Maid O’Mist (Pty) Limited (MoM) and Mapochs Exploration (Pty) Ltd.
Its Zimbabwe-based subsidiaries include Blanket Mine (1983) (Private) (Limited), Caledonia Holdings Zimbabwe Limited and Caledonia Mining Services Limited.
The Company’s subsidiaries also include Greenstone Management Services Limited and Dunhill Enterprises Inc., which are located in England and Panama.
Blanket Mine (1983) Private Limited (Blanket) - Gold Blanket did exports its gold production to Rand Refineries in Johannesburg, South Africa.
Blanket is 49% owned by the Company and sold 51% for >$30 million still owed to the company plus 10% interest on the debt - The mine is located approximately 560 kilometers south of Harare.
The Blanket property is a gold producer on the Gwanda Belt. Nama Project - Zambia Nama, which is a wholly owned subsidiary of the Company, holds four, contiguous large scale mining licenses.
The mining licenses cover approximately 800 square kilometers on the Zambian Copperbelt.
The Rooipoort rights are held by Maid ‘O the Mist, which is a wholly owned subsidiary of Caledonia.
Zimbabwe Exploration The Company’s primary exploration activities in Zimbabwe are at the Blanket Mine.
Other than at Blanket Mine, Blanket’s exploration title holdings in the form of registered mining claims in the Gwanda Greenstone Belt total 78 claims, including a small number under option, covering an area of about 2,500 hectares. Blanket’s main exploration efforts on its satellite properties are focused at this stage on the GG prospect, the Mascot Project and Eagle Vulture which are both within an economic trucking distance of the Blanket plant.
The dividends an individual receives from Canadian corporations are "grossed up" by 25%. This amount is then included on their income tax form as taxable income. Both Canadian federal and provincial governments then grants individuals a tax credit, equal to a percentage of the grossed up amount.