Caledonia Mining Corporation PLC (CMCL) Shares Soar 14.68% in Four Days, Reaching 2024 High

Caledonia Mining Corporation PLC (CMCL) shares surged 0.78% today, marking the fourth consecutive day of gains, with a total increase of 14.68% over the past four days. The stock price reached its highest level since November 2024, with an intraday gain of 5.21%.

Caledonia Mining Corporation PLC (CMCL) recently completed the sale of its 12.2MWac solar plant for $22.35 million. This transaction significantly improved the company's financial position, transforming a net debt of $3.8 million into a net cash balance of $18.6 million. The sale generated a profit of $8.05 million over the construction cost, providing Caledonia with the capital needed to pursue its growth strategy. The company can now focus more on its core gold mining operations while ensuring access to renewable energy for its Blanket Mine through an exclusive power purchase agreement.