NYSE and AIM-listed mining firm Caledonia Mining Corporation Plc has announced that it is to be included in the MVIS Global Junior Gold Miners Index (“GDXJ Index”) for the first time following the GDXJ Index’s first quarter 2021 review.
MVIS Global Junior Gold Miners Index is a pure-play, global index, tracking the performance of the most liquid junior companies in the global gold and silver mining industry that generate or intend to generate at least 50% of their revenues from this sector.
In a published statement issued by the miner, Steve Curtis the Chief Executive Officer indicated the merits of the development:
“I am delighted with our imminent inclusion in the GDXJ Index. The listing of our shares on the NYSE American has increased our liquidity significantly and our inclusion on the Index should further raise our profile among retail and institutional investors. The addition of Caledonia to the Index will be an important milestone for our business and will come at an exciting time for the Company with the commissioning of Central Shaft due to be completed in the first quarter of this year.”
Caledonia Mining has mining operations in Zimbabwe through its flagship mine Blanket Mine in Gwanda
In a recent corporate presentation, Caledonia’s CFO Mark Learmonth said due to COVID-19 and subsequent lockdown restrictions, the gold miner has seen slower progress on equipping the Central Shaft while restrictions on the cross border movement of specialized personnel and equipment resulted in a three-month delay.
According to the company, the development of the Central Shaft will enable mining and exploration access below 750m, improve operational efficiency, and secure mine life to 2034.
Gold production during 2020 was 57,899 ounces with approximately 15,012 ounces produced during Q4 2020. Gold production for 2021 is expected to between 61,000 to 67,000 ounces. Meanwhile, Caledonia maintains its annual gold production of 80,000 ounces by 2022.