- October 20, 2020
- Posted in LOCAL
Gwanda based gold miner, Caledonia Mining Corporation has announced that BlackRock, Inc and Sales Promotion Services S.A reduced their interest in the company last week.
According to a company statement released by the gold miner, Sales Promotion Service SA owned by renowned businessman Mr. Heinrich Auwärter reduced their shares in the mining firm from 7.89 percent to 5.48 percent.
“Caledonia Mining Corporation Plc announces that it received notification on October 13, 2020, that the interest of Sales Promotion Services S.A., being a significant shareholder, as defined by the AIM Rules, in shares of the Company, has reduced to 663,773 shares representing 5.48% of the Company’s total issued share capital. No other details regarding the decrease have been disclosed to the Company.
“The holder notified Caledonia on June 26, 2019, that it held an interest in 848,773 shares which, as at that date, represented 7.89% of the Company’s total issued share capital.
Caledonia announced on November 13, 2017, that it had been informed that the beneficial owner of Sales Promotion Services S.A. is Heinrich Auwärter.” Reads the statement in part.
The company also announced that American global investment management corporation BlackRock, Inc slightly decreased its ownership shares and crossed a particular threshold for notification of its holdings in the company.
“Caledonia Mining Corporation Plc announces that it received notification on October 14, 2020, from BlackRock, Inc., which is a “significant shareholder” of the Company as defined by the AIM Rules for Companies, that it has slightly decreased its interest in the Company and on October 13, 2020, crossed a particular threshold for notification of its holdings in the Company” reads the statement in part.
This has come after Caledonia reaches an agreement with the Government of Zimbabwe to review potential investment opportunities.
According to the agreement, the company will evaluate mining rights, properties, and/or projects in the gold sector that are controlled by the Government with a view to assessing the potential to advance development on these properties or projects.
Caledonia Mining is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe which is on track to hit its increased 2020 gold production guidance of between 55,000 – 58,000 ounces. This will increase to 80,000 ounces in 2022.