Caledonia Mining Corporation Plc Chairman July Ndlovu has purchased 21,400 common shares in the company for approximately US$492,842, increasing his beneficial interest in the Zimbabwe-focused gold producer to 250,489 shares.
By Rudairo Mapuranga
The transaction was conducted on the New York Stock Exchange on August 13, 2026, at US$23.03 per share, according to a director shareholding notification released by Caledonia on Monday.
The company said it received notification of the transaction on August 14. Ndlovu is identified in the disclosure as a Non-Executive Director and Chairman of Caledonia.
The latest purchase follows another acquisition by Ndlovu in May, when he bought 15,000 Caledonia shares at US$24.81 each. Following that transaction, his holding stood at 229,089 shares.
The latest purchase therefore represents a further increase in the chairman’s direct interest in the company, although Caledonia has not stated a reason for the acquisition in its regulatory notification.
Ndlovu’s latest share purchase comes as Caledonia continues to advance its Zimbabwe portfolio, anchored by the Blanket Gold Mine in Gwanda and the development of the Bilboes gold project.
Caledonia reported second-quarter revenue of US$75.9 million, up 16% from US$65.3 million in the same period last year, supported by higher realised gold prices.
Blanket produced 17,360 ounces during the quarter, an 18% decline from the 21,070 ounces produced in the second quarter of 2025. However, production increased 18% compared with the first quarter of 2026 as grades improved and the company gained access to higher-grade mining areas.
The company maintained its full-year Blanket production guidance of between 72,000 and 76,500 ounces and said measures to improve mine flexibility and ore availability were gaining traction.
Caledonia also expects its seven-day working week, introduced at Blanket in June, to support higher production, with the company planning to begin processing an additional 200 tonnes of ore per day from September.
The company is simultaneously advancing the Bilboes project, one of its key growth assets in Zimbabwe.
Ndlovu joined Caledonia’s board as an independent Non-Executive Director in November 2025 and became chairman following the company’s 2026 Annual General Meeting.
The latest purchase increases his shareholding at a time when Caledonia is seeking to improve production at Blanket while advancing its wider Zimbabwe growth portfolio.
The transaction itself, however, does not indicate the reason for Ndlovu’s purchase, and the company has not characterised it as an investment signal.
Caledonia is listed on the NYSE American, AIM and the Victoria Falls Stock Exchange under the ticker CMCL.
