Caledonia Mining Corporation Plc, has decided to extend the closing of its Zimbabwe Placing from the previously announced deadline of March 31, 2023, by up to a week. This decision was made due to an unexpectedly high level of interest from both new and existing institutional shareholders who require extra time to attend to their administrative requirements.
The Zimbabwe Placing is aimed at raising funds for the company, and it is expected that, due to strong demand from existing Zimbabwean institutional shareholders, it will raise more than the initial expectation of $3 million.
Caledonia Mining expects to make a further announcement this week regarding the closing date and the amount of funds raised. The company will also notify investors of the shares and Zimbabwe depositary interests that will be issued pursuant to the Placing.
Caledonia Mining Corporation is a leader in gold mining in Zimbabwe, and its key assets include the Blanket mine, which is located in the southwest of the country. The company is committed to increasing shareholder value through its operations and innovations, and it is always on the lookout for new opportunities for growth and expansion.
This decision to extend the closing of the Zimbabwe placing is a testament to the strong demand from both new and existing institutional shareholders. It is also indicative of Caledonia Mining’s commitment to working closely with its shareholders to achieve its goals. The company believes that this extension will allow all interested parties the necessary time to participate and contribute to the company’s success.
In conclusion, Caledonia Mining Corporation Plc’s decision to extend the closing of the Zimbabwe Placing demonstrates its commitment to shareholder value and growth. The company is poised for continued success, and it is always on the lookout for new opportunities to expand its operations and reach. It remains to be seen what the final figures will be, but the extension is likely to result in increased investment and opportunities for the mining company.