Buy, Build or Buyback – The Perspective from Zimbabwe

Mark Learmonth, Chief Financial Officer, Caledonia Mining

At The Miners' Dilemma: Buy, Build or Buyback?
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Speaker’s Biography

Mark Learmonth is a director and the CFO of Caledonia Mining Plc, based in Jersey, Channel Islands. Prior to joining Caledonia in 2008, Mark was a natural resources investment banker based in London and Johannesburg. Mark is a member of the executive committee of the Chamber of Mines, Zimbabwe.

Need to know

Caledonia Mining Plc is a Jersey-based company capitalised at approximately $100m, which controls the Blanket Gold Mine in Zimbabwe. Blanket is one of Zimbabwe’s largest and most successful gold miners: in 2018 Blanket produced approximately 57,000 ounces of gold at an all-in sustaining cost of $847 per ounce. Blanket is approaching the end of a 7-year, $85m investment programme which is expected to increase production to approximately 80,000 of gold per annum in 2021 at an AISC of below $750 per ounce.