Financing ·
Caledonia signs $150M interim financing facility for Zimbabwe's Bilboes gold project
CMCLCaledonia Mining Corp Plc
Caledonia Mining Corporation Plc announced that its subsidiary has signed an interim financing facilities agreement of up to US$150 million to support construction of the Bilboes Gold Project in Zimbabwe. The facility is arranged by Stanbic Bank and CBZ Bank, comprising a $50 million revolving credit tranche at SOFR plus 8.10% and a $100 million term loan at SOFR plus 7.90%, with an option to increase the total size by another $50 million. This agreement represents the third pillar of the company's four-pillar funding strategy, complementing a completed gold price hedging programme and a US$150 million convertible notes offering. The facility provides financial flexibility while long-term project finance discussions continue. Caledonia Mining Corporation Plc is a gold mining company focused on operations in Zimbabwe.