BlackRock acquires over 3% stake in Caledonia, triggers notification threshold

Blackrock Inc

Caledonia Mining Corporation Plc, has announced that as of June 23, 2023, BlackRock now holds an ownership stake that exceeds 3% of Caledonia’s issued share capital.

This news has caught the attention of industry experts and investors alike, as BlackRock, Inc. is a prominent global investment management corporation. Its interest in Caledonia Mining Corporation Plc signifies a vote of confidence in the mining company’s potential and performance.

Caledonia Mining Corporation Plc operates Blanket Mine in Gwanda and recently took over Bilboes Gold Limited for a total consideration of 5,123,044 Caledonia shares representing approximately 28.5 per cent of Caledonia’s fully diluted equity, and a 1 per cent net smelter royalty the Project’s revenues in January of this year.

The Mark Learmonth-led company has built a strong reputation in the industry, consistently delivering positive results and demonstrating resilience in challenging market conditions. With its expertise and commitment to responsible mining practices, Caledonia has become a trusted name in the sector.

See Also
gold buying Zimbabwe

BlackRock’s decision to exceed the 3% threshold is indicative of its belief in Caledonia’s growth prospects and long-term value. The investment giant manages a significant portfolio of assets and has a proven track record of identifying promising investment opportunities. As such, its increased interest in Caledonia Mining Corporation Plc is seen as a positive development for the company.

Scroll To Top
error: Content is protected !!