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Caledonia Mining to issue more shares in Victoria Falls Stock Exchange debut

Published

3 years ago

November 29, 2021

BY NOKUTHABA DLAMINI

Giant gold miner, Caledonia Mining Corporation (CMC), says it will increase a planned capital raising because of an overwhelming response to its listing on the Victoria Falls Stock Exchange (VFEX).

Caledonia said it will now raise US$7.96 million from the issue of approximately 630 000 new shares at an offer price of US$12.64 per depositary receipt.

The proceeds of the offer would be used for general corporate purposes in Zimbabwe, the company said.

Steve Curtis, the Caledonia chief executive officer, said the capital raising will attract more investors.

“The support from Zimbabwe investors has been extremely encouraging and reinforces our belief that this listing is an important milestone, welcoming new shareholders, with a mutual desire for investment in Zimbabwe and who have not, until now, been able to participate in Caledonia’s growth journey,” Curtis said.

“The VFEX listing will also enable Caledonia to progress with its next phase of development.

“The access to 100 percent US dollar revenue for incremental gold sales will assist Blanket, and any other new mine Caledonia develop, and will attract investors who are confident that Zimbabwe is a competitive investment environment capable of delivering attractive returns.”

Curtis said the VFEX listing highlighted the company’ s continued commitment to Zimbabwe.

” We are excited about this and the next stage, and I would like to thank everybody for their continued support,” he added.

Caledonia said as announced on July 8, 2021, one of the benefits of a listing of depositary receipts representing the ompany’s shares on the VFEX was an improvement in the proportion of the revenues received in US dollars for gold produced at the company’s majority owned Blanket Mine.

“The company looks forward to benefitting from this development going forward,” Curtis said.

“The admission of new shares, listing and dealings are expected to occur on or about December 2, 2021.”

Caledonia will announce the exact number of new shares, and depositary receipts, to be issued once subscription monies have been deposited and formalities have been completed in the next few days.

“Once the securities are issued, the company’s depositary in Zimbabwe will liaise with the VFEX to have the depositary receipts admitted to electronic trading in Zimbabwe and dealings will commence,” it said.

In the community

Hwange police seek public’s help in locating missing teen

Published

1 week ago

May 15, 2025

VicFallsLive

BY STAFF REPORTER

The Hwange police are urgently seeking the public’s assistance in locating 16-year-old Latoya Lisa Munkuli, who went missing on May 7, this month.

Latoya, a dark-complexioned female juvenile, was last seen leaving her residence in Hwange around 4 pm.

She was wearing a distinctive outfit consisting of green trousers and a white T-shirt, and carried a black satchel. She stands approximately 1.6 meters tall.

Inspector Glory Banda of the Hwange police is leading the investigation and urges anyone with information about Latoya’s whereabouts to come forward.

If you have any information about Latoya’s disappearance, please contact Inspector Banda on 0785961747 or 0771256607.

National

Coal train in flames: NRZ locomotive damaged in fire incident

Published

1 month ago

April 16, 2025

VicFallsLive

BY WANDILE TSHUMA

A National Railways of Zimbabwe (NRZ) locomotive suffered significant damage after catching fire while transporting export coal to Zambi. The incident occurred between Kalala and Matetsi sidings, resulting in the explosion of the locomotive’s fuel tanks.

According to the NRZ press statement on Monday, “A National Railways of Zimbabwe locomotive suffered some damages after it caught fire this afternoon while transporting export coal to Zambia.” Fortunately, the crew members on board managed to escape unharmed.

The NRZ responded swiftly to the incident, dispatching a rescue train with crews to the site. The team successfully extinguished the fire, preventing further damage. However, the locomotive itself sustained considerable damage.

The cause of the fire is yet to be determined, with investigations currently underway. “Investigations are already underway to establish the cause of the fire and the amount of damage to the locomotive,” the NRZ statement read.

In the community

Human-wildlife conflict claims 18 lives in Zimbabwe’s first quarter

Published

1 month ago

April 16, 2025

VicFallsLive

BY NOKUTHABA DLAMINI

The Zimbabwe Parks and Wildlife Management Authority (ZimParks) has reported a disturbing trend of human-wildlife conflict in the country’s first quarter of 2025. According to the authority, 18 people have lost their lives, and 32 others have been injured in encounters with wildlife.

ZimParks spokesperson Tinashe Farawo revealed that the authority received 579 cases of human-wildlife conflict, which they managed to respond to promptly. The incidents have also resulted in significant livestock losses, with at least 53 cattle and 85 goats killed by wildlife.

The districts most affected by these incidents include Binga, Hwange, Kariba, Chiredzi, Hurungwe, Nyaminyami, and Mbire. ZimParks has been working tirelessly to raise awareness about wildlife behaviors and effective preventive measures in these areas.

In response to the crisis, ZimParks has translocated 129 animals back into protected areas and eliminated 158 animals deemed problematic.

“We encourage communities to continue reporting incidents to ZimParks Problem Animal Control numbers and local leadership, such as Councillors, Traditional Leaders, and Rural District Council Authorities, to ensure that we preserve lives,” Farawo urged.

The significant increase in livestock losses, with cattle deaths rising from 18 to 53 and goat deaths from 21 to 85 compared to the same period in 2024, highlights the growing challenge of human-wildlife conflict in Zimbabwe.

ZimParks’ efforts to mitigate the conflict include community initiatives to educate people on managing wildlife encounters effectively.