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Two banks tapped to arrange $150M for Zimbabwe gold project
Caledonia Mining Corporation (CMCL) has appointed Stanbic Bank Zimbabwe and CBZ Bank as co-lead arrangers for an interim funding facility of up to US$150 million. This facility is intended to support the development of the Bilboes gold project in Zimbabwe and is expected to be in place by mid-2026, subject to customary lender approvals. CEO Mark Learmonth stated that this facility, combined with hedging programs, convertible notes, and cash generated from Blanket Mine, will provide financial flexibility for their growth plans.