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CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI)

Gold to race higher towards $2300 in the long-term

Strategists at Credit Suisse remain long-term gold bulls and a potential bullish “wedge” continuation pattern looks to be forming to add weight to this view.

“Gold extends its consolidation from our $2075 target hit in August and we maintain our core view this is a temporary and corrective pause in the broader uptrend. Indeed, price action is beginning to increasingly look like a bullish ‘wedge’ continuation pattern, adding weight to our view.” 

Caledonia Mining Corporation plc (LON:CMCL) is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe which produced 54,512 ounces of gold in 2018 at an All in Sustaining Cost of $802/oz.