The New York Stock Exchange (NYSE) has approved the listing of Caledonia Mining Corp’s common shares on the NYSE American stock exchange. Steve Curtis, CEO, stated “This listing for the company on the NYSE American is another significant step for Caledonia which joins some of the world’s best-known gold and precious metals companies with a listing on this prestigious US exchange. This further step in the development of Caledonia’s corporate status has taken place against the backdrop of continued progress on our major operational development projects, principally the sinking of the Central Shaft at the Blanket mine in Zimbabwe.

“The Central Shaft, which is being funded from Blanket’s internal resources, is expected to fundamentally change the nature of Blanket’s operations by improving operating efficiencies and providing access to deeper levels for exploration, development and production. Completion of the Central Shaft remains on schedule for the fourth quarter of 2018.

“ The listing on the NYSE American is intended to provide the company with greater access to US institutional and retail investors which in turn is hoped will result in better overall trading liquidity, a lower cost of capital and other benefits for Caledonia and its shareholders”.

Following the implementation of indigenisation in Zimbabwe in September 2012, Caledonia’s primary asset is a 49% interest in the operating Blanket gold mine. Blanket plans to increase production from 50,351 oz in 2016 to approximately 80,000 oz in 2021.