Caledonia declares quarterly dividend

Caledonia Mining Corporation's board has declared a quarterly dividend of 6.875 cents per share.

The dividend will be paid on 26 Jan to shareholders of record on 12 Jan.

Chief executive Steve Curtis said: 'Caledonia maintains its quarterly dividend at 6.875 cents per share, reflecting a continuing strong balance sheet and cash position despite the ongoing investment in the Central Shaft project at the Blanket mine.

'2017 has been another significant year for Caledonia having announced at the start of November a significant and continued increase in Blanket mine's resource base and, shortly thereafter, an extension to the Central Shaft project to deepen the shaft by two extra production levels in order to access the increased resource base at those depths.

'Production guidance for 2017 is between 54,000 to 56,000 ounces of gold and we expect to announce Blanket Mine's gold production for 2017 later this month.

'Blanket mine continues to make progress towards its goal of 80,000 ounces per year by 2021 as a result of the implementation of the investment plan.

'Caledonia intends to continue to distribute cash to shareholders whilst simultaneously retaining a robust balance sheet and we look forward to updating the market on our recent performance with our fourth quarter and annual results for 2017, which are expected to be released on or about March 20, 2018.'