Caledonia declares one other elevated quarterly dividend

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ST HELIER, Jersey, Oct. 04, 2021 (GLOBE NEWSWIRE) — Caledonia Mining Company Plc (“Caledonia” or the “Firm”) (NYSE AMERICAN: CMCL; AIM: CMCL) is happy to announce that the Board of Administrators has declared an elevated quarterly dividend of 14 United States cents (US$0.14) on every of the Firm’s shares.

Highlights

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Commenting on the announcement, Steve Curtis, Chief Government Officer, mentioned:

“We’re happy to announce an extra eight per cent enhance in our quarterly dividend, the seventh enhance prior to now two years, which displays our continued confidence within the outlook for our enterprise. This dividend represents a 104 per cent rise since October 2019.

“The anticipated enhance in manufacturing following the profitable commissioning of the Central Shaft earlier in 2021 offers us confidence to additional enhance the dividend fee along with offering funding for funding in new tasks, together with the exploration prospects at Maligreen and Connemara North, as introduced final month and on the finish of 2020 respectively.

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“The Board will proceed to evaluate the Firm’s future dividend distributions as acceptable, whereas balancing the significance of returning cash to shareholders and investing within the Firm’s development.”

The related dates referring to the dividend are as follows:

Shareholders with a registered deal with within the UK might be paid in Sterling.

Caledonia’s Dividend Coverage
Caledonia’s technique to maximise shareholder worth features a quarterly dividend coverage which the Board adopted in 2014. The Board will take into account future will increase within the dividend as acceptable consistent with its prudent method to threat administration.

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For additional info please contact:

Notice: This announcement comprises inside info which is disclosed in accordance with the Market Abuse Regulation (EU) No. 596/2014.

Cautionary Notice Regarding Ahead-Wanting Info
Info and statements contained on this information launch that aren’t historic information are “forward-looking info” inside the which means of relevant securities laws that contain dangers and uncertainties relating, however not restricted, to Caledonia’s present expectations, intentions, plans, and beliefs. Ahead-looking info can usually be recognized by forward-looking phrases reminiscent of “anticipate”, “consider”, “count on”, “purpose”, “plan”, “goal”, “intend”, “estimate”, “may”, “ought to”, “could” and “will” or the detrimental of those phrases or comparable phrases suggesting future outcomes, or different expectations, beliefs, plans, goals, assumptions, intentions or statements about future occasions or efficiency. Examples of forward-looking info on this information launch embrace: manufacturing steerage, estimates of future/focused manufacturing charges, and our plans and timing relating to additional exploration and drilling and growth. This forward-looking info is predicated, partly, on assumptions and elements that will change or show to be incorrect, thus inflicting precise outcomes, efficiency or achievements to be materially totally different from these expressed or implied by forward-looking info. Such elements and assumptions embrace, however are usually not restricted to: failure to ascertain estimated assets and reserves, the grade and restoration of ore which is mined various from estimates, success of future exploration and drilling packages, reliability of drilling, sampling and assay information, assumptions relating to the representativeness of mineralization being inaccurate, success of deliberate metallurgical test-work, capital and working prices various considerably from estimates, delays in acquiring or failures to acquire required governmental, environmental or different challenge approvals, inflation, adjustments in alternate charges, fluctuations in commodity costs, delays within the growth of tasks and different elements.

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Safety holders, potential safety holders and different potential buyers needs to be conscious that these statements are topic to identified and unknown dangers, uncertainties and different elements that would trigger precise outcomes to vary materially from these prompt by the forward-looking statements. Such elements embrace, however are usually not restricted to: dangers referring to estimates of mineral reserves and mineral assets proving to be inaccurate, fluctuations in gold worth, dangers and hazards related to the enterprise of mineral exploration, growth and mining, dangers referring to the credit score worthiness or monetary situation of suppliers, refiners and different events with whom the Firm does enterprise; insufficient insurance coverage, or incapacity to acquire insurance coverage, to cowl these dangers and hazards, worker relations; relationships with and claims by native communities and indigenous populations; political threat; dangers associated to pure disasters, terrorism, civil unrest, public well being issues (together with well being epidemics or outbreaks of communicable ailments such because the coronavirus (COVID-19)); availability and growing prices related to mining inputs and labour; the speculative nature of mineral exploration and growth, together with the dangers of acquiring or sustaining vital licenses and permits, diminishing portions or grades of mineral reserves as mining happens; world monetary situation, the precise outcomes of present exploration actions, adjustments to conclusions of financial evaluations, and adjustments in challenge parameters to take care of unanticipated financial or different elements, dangers of elevated capital and working prices, environmental, security or regulatory dangers, expropriation, the Firm’s title to properties together with possession thereof, elevated competitors within the mining business for properties, gear, certified personnel and their prices, dangers referring to the uncertainty of timing of occasions together with focused manufacturing price enhance and foreign money fluctuations. Safety holders, potential safety holders and different potential buyers are cautioned to not place undue reliance on forward-looking info. By its nature, forward-looking info entails quite a few assumptions, inherent dangers and uncertainties, each common and particular, that contribute to the likelihood that the predictions, forecasts, projections and varied future occasions won’t happen. Caledonia undertakes no obligation to replace publicly or in any other case revise any forward-looking info whether or not on account of new info, future occasions or different such elements which have an effect on this info, besides as required by legislation.

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This information launch shouldn’t be a proposal of the shares of Caledonia on the market in america or elsewhere. This information launch shall not represent a proposal to promote or the solicitation of a proposal to purchase, nor shall there be any sale of the shares of Caledonia, in any province, state or jurisdiction wherein such supply, solicitation or sale could be illegal previous to registration or qualification underneath the securities legal guidelines of such province, state or jurisdiction.

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Seek advice from the technical report entitled “Caledonia Mining Company Plc NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe” dated Might 17, 2021 ready by Minxcon (Pty) Ltd and filed by the Firm on SEDAR on Might 26, 2021. Mr Dana Roets (B Eng (Min.), MBA, Pr.Eng., FSAIMM, AMMSA), Chief Working Officer, is the Firm’s certified individual as outlined by Canada’s Nationwide Instrument 43-101 and has permitted any scientific or technical info contained on this information launch.