Slide 1: Q3 2024 Results Presentation
Q3 2024 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: Today's presenting team
Today’s presenting team Craig Harvey, Mark Learmonth Chester Goodburn Victor Gapare James Mufara Vice President Chief Executive Officer Chief Financial Officer Executive Director Chief Operating Officer Technical Services NYSE/AIM/VFEX: CMCL 3
Slide 4: Summary
Summary • Regrettably, a fatality occurred on September 21: measures are being taken to reinforce safety procedures. • 18,992 ounces of gold were produced at Banket in the Quarter (21,772 ounces produced in Q3 2023 – this was a production record). • Encouraging results from the first-phase explorati
Slide 5: Results
Results Summary 3 months ended September 30 9 months ended September 30 Q3 Q3 Change Q3 Q3 Change 2024 2023 (%) 2024 2023 (%) Safety incidents 8 8 0% 33 34 -3% Production (ounces) 19,404 22,923 -15% 58,054 57,576 1% Average gold price ($ per ounce)1 2,447 1,901 29% 2,265 1,906 19% +37% Gross profit
Slide 6: Operations - Blanket
Review of Operations - Blanket Tonnes Milled & Grade (2012 – Q3 2024) 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 18,992 oz Q4 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q4 Q1
Slide 7: Review of Results: Profit or loss for Quarter
Review of Results Profit or loss for Quarter 3 ($’m) Blanket Bilboes oxide Group Consolidated Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Change 2024 2023 2024 2023 2024 2023 2024 2023 (%) 45.9 39.0 0.9 2.2 - - 46.8 41.2 13.6% Revenue +29% Royalty (2.4) (2.1) - (0.1) - - (2.4) (2.2) 9.1% avg. gold price (19.5) (17.1) (
Slide 8: Review of Results: Production costs per ounce sold
Review of Results Production costs per ounce sold 3 months ended Sep 30 9 months ended Sep 30 $’/oz Q3 Q3 Change Q3 Q3 Change 2024 2023 (%) 2024 2023 (%) Blanket 1,033 817 26.4% 974 900 8.2% Wages and salaries 406 388 4.6% 386 377 2.4% Consumables 347 241 44.0% 323 305 5.9% Electricity 208 155 34.2%
Slide 9: Review of Results: Production cost per ounce - Consolidated
Review of Results Production cost per ounce - Consolidated On-mine Cost per ounce $ (Qtr vs comparable Qtr) AISC per ounce $ (Qtr vs comparable Qtr) , 3.1% 1,056 -0.6% +1.8% +2.6% , 7.2% +4.5% +10% , 5.3% -9.5% 7.6% ilboes o ides abour Other Po er Consumables On mine Sustaining Other cost per Cape o
Slide 10: Review of Results: Cost control initiatives
Review of Results Cost control initiatives Initiatives on Power • Power factor correction implementation planned in November 2024, expected saving in 2025 of $1.3m. • Winder AC to DC conversion estimated saving of $1.2m p.a. implementation is planned for 2025. • Increased the hoist payload, hoisting
Slide 11: Profit or loss for Quarter (continued)
Review of Results Profit or loss for Quarter 3 (continued) Blanket Bilboes oxide Group Consolidated ($’m) Q3 Q3 Q3 Q3 Q3 Q3 Q3 Q3 Change 2024 2023 2024 2023 2024 2023 2024 2023 (%) Gross profit 19.8 15.4 - (1.2) (0.5) (0.1) 19.3 14.1 36.9% Net foreign exchange losses (2.3) (0.4) - 0.0 (0.8) 0.1 (3.1
Slide 12: Review of Results: Foreign exchange loss
• Conversion methods granted in Review of Results December and January 2023 and 2024 locked up RTGS$ cash and contributed to FX losses on cash in Q1. (Uncontrollable, Foreign exchange loss $3m loss) ($’000) Nine months ended September 30, Nine months ended September 30, • VAT and Bullion receivables
Slide 13: Review of Results: Cashflow statement
Review of Results Cashflow statement ($‘000) 3 months ended 9 months ended Sept 30 Sept 30 2024 2023 2024 2023 Operating cash flow Cash generated by operations before working capital changes 16,160 16,303 46,445 21,219 25000 Inventories (2,195) 1,521 (2,278) 516 Prepayments (554) 3,401 (2,591) 3,253
Slide 14: Motapa – Encouraging Results
Motapa – Encouraging Results • Initial diamond drilling (“DD”) and reverse circulation drilling (“RC”) completed to test the continuation of sulphide zones of mineralisation below the historic oxide open pits. • Drilling in new target areas has returned encouraging results in oxide and sulphide zone
Slide 15: Bilboes
Bilboes NI 43-101 M&I mineral resource of 2.47Moz at 2.30 g/t and an Inferred mineral resource of 560koz at 1.99g/t* PEA results projected to yield 1.5Moz AU over a 10-year LOM New feasibility study reflecting the PEA is expected to be published in Q1 2025 Sensitivity analysis in the PEA (NPV $’m):
Slide 16: Outlook
Outlook The immediate strategic focus is to: • Maintain production at Blanket at the targeted range of 74,000 to 78,000 ounces for 2024 and at a similar level for 2025; • Implement cost control initiatives; • Complete the Caledonia feasibility study on the Bilboes sulphide project (expected Q1 2025)
Slide 17: Contact
Contact 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 18: Q&A
Q&A NYSE/AIM/ VFEX: CMCL 4