Caledonia successfully raises $150m through upsized note offering

After successfully closing a $150-million seven-year convertible senior note offering, gold miner Caledonia Mining Corporation says it will start ordering long lead-time equipment for the Bilboes project, in Zimbabwe, in the third quarter of the year.

The company will also start a formal project finance process to support the full development of Bilboes towards large-scale and long-life production.