- CMCL forecast 2026 total group capital expenditure of $178.9 million for 2026 to sustain production at the Blanket gold mine in Zimbabwe
- CMCL’s revenue jumped 46% in 2025.
- Stocktwits sentiment jumped to ‘extremely bullish’ from ‘bullish’ a day ago
Caledonia Mining Corp. (CMCL) drew heightened retail attention following its quarterly revenue beat on Monday, as investors focused on the company’s development of its gold projects in Zimbabwe.
Caledonia Q4 Snapshot
CMCL reported Monday, fourth quarter earnings of $0.56 per share on revenue of $74.7 million, beating the market’s estimate of $71.9 million, according to data from Fiscal.ai. Last year, the company reported quarterly adjusted earnings of $0.44 per share on revenue of $47.5 million.
The gold producer said its full-year revenue jumped 46% to $267.7 million, driven by a higher gold price environment and better sales.
Zimbabwe Mine Could Reshape Growth
On Monday, the company said it expects first production of gold in late 2028 at its Bilboes gold project. CMCL expects the project to produce about 200,000 ounces of gold in its first year of production.
The company noted that the mine has a life of 10.8 years, with proven and probable mineral reserves of 1.75 million ounces of gold.
Out of the estimated group growth capital expenditure of $135.9 million for the year, CMCL has allocated $132.1 million towards the development of Bilboes, subject to board approval and receipt of funds.
CMCL added that the project also has the potential to change its production and profit profile.
Caledonia also expects full-year gold production at the Blanket Mine, in the region where it holds a 64% stake, to be between 72,000 and 76,500 ounces.
For the year, it expects the mine's quarterly production profile to be stronger in the second half as higher-grade areas come on stream.
CMCL added that it plans to use the current gold price to invest in projects at the mine, which will help contain rising input prices.
The company is set to pay a quarterly dividend of $0.14 per share on April 17, unchanged from last year.
What Retail Traders Feel About Caledonia
Stocktwits sentiment on CMCL jumped to ‘extremely bullish’ from ‘bullish’ just a week ago, amid ‘extremely high’ message volumes over the last day, even as the stock sits roughly 15% lower year to date. Engagement on the platform has also surged: CMCL’s follower count has jumped 56% over the past year.
One user said, “When Bilboes opens we can look forward to a 400% increase YoY on pretty much every good metric Beyond that, once we get to 1M ounces per annum we will get an institutional multiple,”
The user added “Bloomberg predicts >200% profit gain for 2025 and >18% growth for 2026 and probably >400% growth in 4Q27 when Bilboes is online”
CMCL stock has lost over 16% this year.
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