Caledonia Mining – Expansion boosts bottom line
Caledonia Mining (CMCL) produced 23,300oz (23koz) of gold in H1 2016, a 14% increase on H1 2015, indicating that its investment in infrastructure to expand production is already bearing fruit. The company is on schedule to produce around 50koz of gold in 2016 (2015: 43koz).
Moreover, EPS for H1 2016 was US7.7c, an improvement of 185% from the same period last year. The company has increased its quarterly dividend to an annualised US5.5c per share, which equates to a forecast dividend yield for 2016 of 4.5%.
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CACL : Caledonia Mining – Expansion boosts bottom line