microcap4' on 'Caledonia Mining Corporation (CALVF :-) 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 :-) TIA....
TORONTO, Feb. 20, 2012 /CNW Telbec/ -
well, Caledonia Mining Corporation (CALVF) is a well diversified mining corporation :-)
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.--
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."
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