Slide 1: Full Year & Q4 2023 Results Presentation
Full Year & Q4 2023 Results Presentation
Slide 2: Disclaimer and forward looking statements
Disclaimer and forward looking statements THIS PRESENTATION DOES NOT CONSTITUTE, OR FORM PART OF, ANY OFFER TO SELL OR ISSUE OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SHARES IN CALEDONIA MINING CORPORATION PLC (“CALEDONIA”), NOR SHALL IT (OR ANY PART OF IT) OR THE FACT OF IT
Slide 3: Overview
Overview . • Annual gold production at Blanket of 75,416 oz in 2023, in line with guidance. • Gross profit of $41.5 million (2022: $61.8 million). Decreased profit due to higher production costs, in particular at the Bilboes oxide mine in the Year. • Revenues and gross profit exclude the benefit of
Slide 4: Results
Results Summary 3 months ended December 31 12 months ended December 31 2023 2022 Change (%) 2023 2022 Change (%) Production (ounces) 20,878 21,049 -1% 78,466 80,775 -3% Average realized gold price ($ per ounce)1 1,922 1,714 12% 1,910 1,772 8% Revenue ($’m) 38,661 34,178 13% 146,314 142,082 3% Gross
Slide 5: Operations - Blanket
Review of Operations - Blanket Tonnes Milled & Grade (Q1 2012 – Q4 2023) 5.5 200,000 Tonnes Milled (t) Head grade (g/t) 4.5 150,000 3.5 100,000 2.5 1.5 50,000 Tonnes milled and grade recovers to Q1 Q2 Q2 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3 Q4 Q1 Q2
Slide 6: Profit or loss for the 4th Quarter
Review of Results Profit or loss for the 4th Quarter Blanket Bilboes oxide Other1 Consolidated ($’m) Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Change 2023 2022 2023 2022 2023 2022 2023 2022 (%) 37.4 34.2 1.2 - - - 38.6 34.2 13.1% 0.9% more ounces sold; 12.2% increase in the average Revenue realised gold price. Royalt
Slide 7: Profit or loss for the 4th Quarter (Continued)
Review of Results Profit or loss for the 4th Quarter (Continued) Blanket Bilboes oxide Other1 Consolidated ($’m) Q4 Q4 Q4 Q4 Q4 Q4 Q4 Q4 Change 2023 2022 2023 2022 2023 2022 2023 2022 (%) Gross profit 11.6 11.2 (1.2) - 0.2 0.3 10.6 11.5 -7.1% Increased labour cost due to settlement payable to the fo
Slide 8: Production Costs
Review of Results Production Costs 3 months ended 12 months ended December 31 December 31 Change Change ($’m) 2023 2022 (%) 2023 2022 (%) Blanket 17.9 16.5 8.4% 65.5 59.0 11.1% Wages and salaries1 6.0 6.2 -3.2% 25.1 23.0 9.1% Reduced bonus payments Consumables1 6.8 6.5 4.6% 24.1 23.6 2.1% Modest inc
Slide 9: Administrative expenses
Review of Results Administrative expenses ($’000's) 3 months ended December 31 12 months ended December 31 2023 2022 Change (%) 2023 2022 Change (%) Investor relations 84 174 -51.7% 576 663 -13.1% Audit fee 185 88 110.2% 396 294 34.7% YTD $3.1m increase due to the Bilboes advisory fees on the succes
Slide 10: Cost per ounce
Review of Results Cost per ounce • On-mine cost per ounce increased due to Bilboes oxides and electricity charges and increase in overtime at Blanket up to November 2023. • AISC increased due to Bilboes acquisition advisory fees. 1. Source: section 10.1 of the MD&A published on March 28, 2024.. NYSE
Slide 11: Taxation Q4 2023
Review of Results Taxation Q4 2023 ($’000’s) Blanket South Africa UK Bilboes Total 4,169 - 4,081 Income tax (88) - Withholding tax - - - - - - 125 - - - management fees 125 - - - 291 - deemed dividend 291 4,208 73 - 4,236 Deferred tax (45) - - 300 - 300 CHZ dividends to GMS 8,668 110 300 9,033 Total
Slide 12: Balance Sheet
Review of Results Balance Sheet ($’m) Dec 31, 2023 Dec 31, 2022 Increased investment in E&E assets due to the Bilboes Non-current assets 274.1 196.8 sulphide acquisition in quarter 1 of 2023. Current assets (excl. cash) 47.5 31.7 Increase due to the Solar plant classified as held for sale. Cash and
Slide 13: Cash
Review of Results Cash Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, Mar 31, Jun 30, Sep 30, Dec 31, ($’m) 2021 2022 2022 2022 2022 2023 2023 2023 2023 Zimbabwe 8.1 5.8 8.9 0.9 (2.2) (9.7) (7.4) (8.1) (13.8) South Africa 0.6 1.9 0.9 0.9 0.7 1.1 0.9 1.2 1.1 UK/Jersey 7.5 6.7 1.1 4.4 3.0 11.8 3.6 3.7 1.7 To
Slide 14: Blanket Quarterly performance 2022 - 2023
Blanket Quarterly performance 2022 - 2023 2022 2023 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Production (ounces) 18,515 20,091 21,120 21,049 16,036 17,436 21,772 20,172 Average realised gold price ($ per 1,848 1,840 1,696 1,714 1,863 1,949 1,901 1,922 ounce) Revenue ($’m) 35 37 36 34 29 35 39 37 Gross Profit ($’m
Slide 15: Outlook
Outlook • Management has taken steps to address higher than anticipated costs experienced in second half of 2023 • Maintain production at Blanket Mine at the target range of 74,000 - 78,000 ounces for 2024 and at a similar level for 2025 • Complete a revised resource statement thereby extending the
Slide 16: Contacts
Contacts WEBSITE: www.caledoniamining.com NORTH AMERICA IR: 3PPB LLC Patrick Chidley Paul Durham TWITTER: @CaledoniaMining Tel: +1 917 991 7701 Tel: +1 203 940 2538 SHARE CODES: NYSE American / AIM / VFEX – CMCL AIM BROKER/NOMAD: CAVENDISH CAPITAL MARKETS Adrian Hadden | Tel: +44 207 220 1751 Email:
Slide 17: Thank You
Thank You 17