Loading ...Caledonia Mining Corp
CMCL has been added to the GDXJ with 440K shares or about 4% of the float. BlackRock is also a significant holder. I have found that when you buy new additions to the indexes the newly added CMCL usually outperforms. It’s in Zimbabwe. They are a profitable miner with clean financials paying a 4.1% dividend.
I hate to generalize, since each mining project is unique. Nevertheless, I have serious reservations about putting money into a mining play located in that country. The rule of law is questionable as are property rights and a fair judiciary. If you have specifics about the reason this project is safe, please share.
Good point. Look at the number of employees. Over 1800. They employ all the locals and for a mining company with revenues of only 30 million to employ so many it makes it like DRD. You make so many stakeholders…
I am not advocating that you or anyone invest in it. I am merely sharing a trading style. Now that it is included in a major index like the GDXJ it will be allowable for institutions to invest in it as someone else has done the due diligence.