Caledonia Mining Corporation Plc (CMCL) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Caledonia Mining Quarterly and Four Year Results 2025 presentation for analysts and investors. I would now like to hand you over to Mark Learmonth, who is the CEO. Mark, over to you. Good afternoon and welcome to this management conference call. If we could move to the first slide of the presentation, please. Just go to the disclaimer. So that's the standard disclaimer. If we could move on to the next slide, please. Presenting teams, there's me, Mark Learmon, Caledonia's chief executive. We're also joined by Ross Gerrard, who will run us through the financial performance for the year. Victor Capari will talk to us about what's happening at Bilbo's. And Craig Harvey will give us an update on the various exploration initiatives. If we could move on to the next slide, please. So just in terms of the summary of the results, it was very strong financial performance, underpinned by a higher gold price and some consistent operating delivery. Revenue up by 46% to $267 million. Gross profit up by 78% to $137 million. EBITDA up by 100% from just less than $60 million to just over $125 million. And the profit after tax up by 200% from $23 million to $67 million. So there's some quite big, quite big numbers there. Ross will unpack those numbers in more detail in a moment. Shall we move on to the next slide, please? Before we go much further, can we just briefly discuss Caledonia's value creation proposition? So from one angle, what we see here is looking at this from the perspective of our distributions in country to government by way of taxes and royalties and also to our local shareholders. Over the course of the last nine years, we've distributed just over a quarter of a billion dollars. So we're making a very, very substantial contribution. And you can see qui...