Caledonia Mining Corporation Plc: Block Listing Application and "At The Market" Sales Agreement

Core Viewpoint - Caledonia Mining Corporation has entered into an "At the Market" sales agreement to sell up to $50 million worth of shares, with proceeds intended for the development of the Bilboes sulphide project [1][5]. Group 1: ATM Sales Agreement - The ATM Sales Agreement allows Caledonia to sell shares at its discretion through ordinary brokers' transactions or block trades on the NYSE American at market prices [1]. - The company expects to utilize the net proceeds from the sales for investment in the Bilboes sulphide project [1]. Group 2: Technical Report Summary - Caledonia filed a technical report summary titled "Bilboes Gold Project Technical Report Summary" prepared by DRA Projects, in compliance with S-K 1300 regulations [2]. - The report aims to report mineral resources, present initial assessments for open pit mining, and propose additional work for feasibility studies [4]. Group 3: Future Plans - A new feasibility study for the Bilboes project is planned for publication in the first quarter of 2025 [5]. - The effective date of the technical report summary is May 30, 2024, with mineral resource amounts identical to those in the preliminary economic assessment [4]. Group 4: Share Capital and Admission - An application has been made for a block admission of 4,000,000 new depositary interests, which will rank pari passu with existing shares [6]. - Following the admission, the company's issued share capital remains unchanged at 19,214,554 shares [7].