Caledonia Mining Corporation Plc · AMEX:CMCL
Caledonia Mining — Q3 2021 Earnings Presentation
15 slides from Caledonia Mining's earnings presentation, November 2021
Slide 1: Q3 Results Presentation 2021
Q3 Results Presentation 2021
Slide 2: Disclaimer
Disclaimer 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 its distribution, form the basis
Slide 3: A Strategy Focused on Genuine Returns for our Shareholders
A Strategy Focused on Genuine Returns for our Shareholders Central Shaft: Significant Committed to Attractive new near-term, increase return money opportunities low-risk growth in production to shareholders by 2022 NYSE/AIM: CMCL 3
Slide 4: Results Highlights
Results Highlights 3 months ended September 30 9 months ended September 30 2020 2021 Change 2020 2021 Change Production (ounces) 15,155 18,965 25% 42,887 48,872 14% Average gold price ($ per ounce)1 1,897 1,764 7% 1,714 1,766 3% Revenue ($’m) 25.4 33.5 32% 71.9 89.2 24% Gross Profit ($’m) 2 12.5 15.
Slide 5: Dividend
Dividend COMMITTED TO RETURN MONEY TO SHAREHOLDERS QUARTERLY DIVIDEND PAYMENTS Quarterly dividend of US$0.14 (14c) 16 14 12 Dividend payer since D 10 2012 US Dollars 8 Dividend yield 6 4.6% *as at 4 October 2021 4 2 104% Increase 0 in quarterly dividend since October 2019 Q1 2018 Q2 2018 Q3 2018 Q4
Slide 6: Review of Operations
Review of Operations Tonnes Milled & Grade (2011 – Q3 2021) 5.5 200,000 Tonnes Milled (t) Head grade (g/t) 4.5 150,000 3.5 Record tonnes milled in the Quarter 2.5 100,000 following the commissioning of Central Shaft. 1.5 50,000 Q1 Q4 Q3 Q2 Q1 Q4 Q1 Q2 Q3 Q4 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q4 Q1
Slide 7: Review of Results
Review of Results Profit and loss 3 months to 9 months to September 30 September 30 ($’m) 2020 2021 2020 2021 Revenue 25.3 33.5 71.9 89.2 Higher production offset by lower gold price in the Quarter Royalty (1.3) (1.7) (3.6) (4.5) Royalty payable to Zimbabwe Government remains at 5% Production costs
Slide 8: Review of Results: Production Costs
Review of Results Production Costs 3 months to 9 months to September 30 September 30 ($’m) 2020 2021 2020 2021 On mine salary increases, higher bonus provisions, Wages and salaries 3.1 5.0 11.6 13.9 appointment of additional senior staff. Consumables 3.8 4.5 11.1 12.8 Covid consumables 0.4 0.2 0.8 0
Slide 9: Review of Results: G&A
Review of Results G&A 3 months to 9 months to September 30 September 30 ($’m) 2020 2021 2020 2021 Investor relations 0.1 0.1 0.3 0.3 Remains at a low level due to continued travel restrictions Audit fee 0.1 - 0.2 0.2 Advisory service fees 0.2 0.1 0.5 0.3 Listing fees 0.1 0.1 0.3 0.3 Director fees 0.
Slide 10: Review of Results: Taxation
Review of Results Taxation Q3 2021 Taxation ($’000’s) Zimbabwe South Africa Total • Total effective tax rate of 35% on IFRS profit before tax : Income tax 2,507 148 2,655 • No tax deduction for G&A costs incurred in Withholding tax UK and Jersey. - management fees - 43 43 • Withholding tax levied by
Slide 11: Review of Results: Cash Flow
Review of Results Cash Flow 3 months to 9 months to September 30 September 30 ($’m) 2020 2021 2020 2021 Cash flow before working capital 9.0 15.5 30.1 38.9 Substantial increase in Q3 cashflows at higher production level Working capital (1.6) (6.1) (6.4) (12.0) Higher prepayments on solar project and
Slide 12: Review of Results: Balance Sheet
Review of Results Balance Sheet ($’000) Dec 31 Sept 30 2020 2021 Non-current assets 133,334 147,421 Other current assets 21,836 29,989 Increased inventories and receivables - refer overleaf Cash and equivalents 19,092 13,213 Prepayments 1,974 7,110 Increase due to prepayments for solar - refer overl
Slide 13: Prepayment and Trade Receivables
Review of Results Prepayment and Trade Receivables Prepayments Dec 31 Sept 30 ($’000) 2020 2021 Solar – Voltalia deposits - 1,821 Solar – equipment & other - 1,008 Blanket prepayments 1,073 1,562 Other prepayments 902 2,160 1,974 7,110 Gold Amount Date Ounces ($’000) Settled Trade and other receivab
Slide 14: Outlook - 2022
Outlook - 2022 • Production approx. 80,000 ounces as previously announced • Capex higher than previous indications Blanket - Indicative 2022 Capital Expenditure $’m 2022 Capex per Technical Report1 15.2 Over-run on planned development 0.8 Higher than anticipated cost of operating the trackless equip
Slide 15: Contacts
Website: www.caledoniamining.com Twitter: @CaledoniaMining Contacts Share Codes: NYSE American – CMCL / AIM – CMCL Caledonia Mining Investment Research London Financial PR: Blytheweigh Mark Learmonth, CFO WH Ireland: www.whirelandplc.com Tim Blythe Tel: +44 (0) 1534 679800 Cantor Fitzgerald: www.can