Caledonia Mining Corporation Plc (CMCL) Q4 2024 Earnings Call Transcript

Caledonia Mining Corporation Plc (NYSE:CMCL) Q4 2024 Earnings Conference Call March 31, 2025 9:00 AM ET

Company Participants

Mark Learmonth – CEO
James Mufara – Chief Operating Officer

Conference Call Participants

Nic Dinham – SBG Securities
Howard Flinker – Flinker
Tate Sullivan – Maxim Group
Duncan Hay – Panmure Liberum

Operator

Ladies and gentlemen, welcome to the Caledonia Mining Q4 Results Presentation.

I’d now like to hand you across to Mark Learmonth, the CEO. Mark, over to you.

Mark Learmonth

Good morning or good afternoon, depending on where you are. Welcome to this webinar to discuss Caledonia’s results for the fourth quarter of 2024 and for the year. I’m here in Jersey. I’m joined also in Jersey by Ross Jerrard, our CFO, who joined today. And then in Johannesburg, I’ve got James Mufara, our Chief Operating Officer; and Victor Gapare, an Executive Director, who is based in Harare, Zimbabwe. And in case I need them, I’ve got some accounting support in Johannesburg and Bulawayo.

Okay. So should we get into this? If you could move to the next slide, please. If you just move forward, we’ve got the disclaimer next, which I think we just need to pause on. So that’s the presentation we’ve already dealt with.

Okay. Let’s move on to the summary. So a record gross profit for the year of nearly $77 million, that’s up 86% from 2023. And that pretty much flowed down to the bottom line with net attributable profit of just under $19 million compared to a loss of $4 million than the previous year, that’s reflected in stronger operating cash flow. So that’s after tax and interest and working capital before CapEx and dividends. And that was nearly $42 million compared to just less than $15 million in the previous year.

Production of