Business
Caledonia Outlines Funding Strategy to Advance the Bilboes Gold Project
(NYSE AMERICAN, AIM and VFEX: CMCL) SAINT HELIER, JE / ACCESS Newswire / January 21, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or the "Company") today provides an update on the structured, multistage funding strategy to support the development ...
About this update from Caledonia Mining Corporation Plc
[{"type":"text","content":"(NYSE AMERICAN, AIM and VFEX: CMCL)","length":35,"tagName":"p","attribs":{}},{"type":"text","content":"SAINT HELIER, JE / ACCESS Newswire / January 21, 2026 / Caledonia Mining Corporation Plc ("Caledonia" or the "Company") today provides an update on the structured, multistage funding strategy to support the development of the Bilboes gold project in Zimbabwe.","length":279,"tagName":"p"},{"type":"text","content":"This announcement follows the successful closing of Caledonia's US$150 million, 7-year convertible senior notes offering (the "Convertible Notes Offering"), which received exceptionally strong support from institutional investors in the United States. Investor demand exceeded US$600 million after three days of marketing which led to an upsizing of the offering from US$100 million to US$125 million, and resulted in a total of US$150 million following the exercise by the initial purchasers of their option to buy a further US$25 million of notes.","length":563,"tagName":"p"},{"type":"text","content":"Summary of the Funding Strategy","length":31,"tagName":"p"},{"type":"text","content":"Following publication of the Bilboes Feasibility Study in November 2025 1 Caledonia has moved quickly to start to implement a four-part funding plan designed to ensure the project can be advanced at pace while maintaining prudent capital discipline. The plan comprises the following:","length":283,"tagName":"p"},{"type":"text","content":"1. Gold Price Hedging Programme","length":31,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"In December 2025, Caledonia purchased put options to lock in a minimum gold price of US$3,500 per ounce over 3,000 ounces per month from January 2026 to December 2028. The hedging arrangements are designed to underpin cash receipts by Caledonia from Blanket Mine over the next three years from January 1, 2026 to December 31, 2028, which broadly coincides with the peak capital investment period for the Bilboes gold project.","length":425,"tagName":"p"}]},{"val":[{"type":"text","content":"The minimum price is also expected to enhance project lenders' willingness to provide credit.","length":97,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":522,"olType":false},{"type":"text","content":"2. Convertible Notes Offering","length":29,"tagName":"p"},{"...