Dominion Lending Centres Clearlease Reports Caledonia Mining Corporation (TSX:CAL) Q4 profit hits $1.1M, reversing year-earlier loss

Vancouver, B.C., Canada (April 1, 2011) – Clearlease.com Reports Caledonia Mining Corporation (TSX:CAL), a Toronto-based miner with operations in Africa, reports a fourth quarter profit of $1.1 million, reversing a loss a year ago of about $2.2 million.

Three-month revenues rose to $7.4 million from $4.3 million as the company benefited from higher production at its Blanket Mine in Zimbabwe and rising gold prices.

For the full year ended Dec. 31, Caledonia generated net profits of $3.7 million and revenues of $22.4 million on the sale of 17,598 ounces of gold by the Blanket mine.

That compared with a net loss of $3.1 million on sales of $11.6 million a year earlier.

“The completion of the No. 4 shaft expansion project dramatically improved the operating performance at Blanket due to increased production capability, particularly towards the end of the fourth quarter,” president and CEO Stefan Hayden said in a release.

“As Blanket continues to operate at a sustainably higher level of production following the successful ramp-up in production, I expect this to give rise to a significant reduction in average costs per ounce.”

In Thursday trading on the TSX, Caledonia shares rose half a cent to 14.5 cents.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About DLC Clearlease

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouver, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html . You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Pidgeon, Editor
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###Dominion Lending Centres Clearlease Reports Caledonia Mining Corporation (TSX:CAL) Q4 profit hits $1.1M, reversing year-earlier lossDominion Lending Centres Clearlease Reports Caledonia Mining Corporation (TSX:CAL) Q4 profit hits $1.1M, reversing year-earlier loss

 

Vancouver, B.C., Canada (April 1, 2011) – Clearlease.com Reports Caledonia Mining Corporation (TSX:CAL), a Toronto-based miner with operations in Africa, reports a fourth quarter profit of $1.1 million, reversing a loss a year ago of about $2.2 million.

Three-month revenues rose to $7.4 million from $4.3 million as the company benefited from higher production at its Blanket Mine in Zimbabwe and rising gold prices.

For the full year ended Dec. 31, Caledonia generated net profits of $3.7 million and revenues of $22.4 million on the sale of 17,598 ounces of gold by the Blanket mine.

That compared with a net loss of $3.1 million on sales of $11.6 million a year earlier.

“The completion of the No. 4 shaft expansion project dramatically improved the operating performance at Blanket due to increased production capability, particularly towards the end of the fourth quarter,” president and CEO Stefan Hayden said in a release.

“As Blanket continues to operate at a sustainably higher level of production following the successful ramp-up in production, I expect this to give rise to a significant reduction in average costs per ounce.”

In Thursday trading on the TSX, Caledonia shares rose half a cent to 14.5 cents.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About DLC Clearlease

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouver, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html . You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Pidgeon, Editor
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###

Vancouver, B.C., Canada (April 1, 2011) – Clearlease.com Reports Caledonia Mining Corporation (TSX:CAL), a Toronto-based miner with operations in Africa, reports a fourth quarter profit of $1.1 million, reversing a loss a year ago of about $2.2 million.

Three-month revenues rose to $7.4 million from $4.3 million as the company benefited from higher production at its Blanket Mine in Zimbabwe and rising gold prices.

For the full year ended Dec. 31, Caledonia generated net profits of $3.7 million and revenues of $22.4 million on the sale of 17,598 ounces of gold by the Blanket mine.

That compared with a net loss of $3.1 million on sales of $11.6 million a year earlier.

“The completion of the No. 4 shaft expansion project dramatically improved the operating performance at Blanket due to increased production capability, particularly towards the end of the fourth quarter,” president and CEO Stefan Hayden said in a release.

“As Blanket continues to operate at a sustainably higher level of production following the successful ramp-up in production, I expect this to give rise to a significant reduction in average costs per ounce.”

In Thursday trading on the TSX, Caledonia shares rose half a cent to 14.5 cents.

DLC Clearlease currently has the following employment opportunities available: http://clearlease.com/Career-Opportunities.html

About DLC Clearlease

Equipment Lease Financing in Vancouver, Surrey, Delta, Richmond, Langley, New Westminster, North Vancouver, West Vancouver, B.C. Also offering Automobile Lease Financing and Mortgage information. Founded by the Pidgeon brothers, DLC Clearlease is a free service that can qualify you for an automobile or equipment lease finance. You save time and effort by giving DLC Clearlease.com your information just once; DLC Clearlease has partnered with over 100 lenders to offer you the best rates and service, comparable to none. We offer a simple application process available at http://clearlease.com/How-to-Apply.html . You may have recently seen a Dominion Lending advertisement on such media outlets as: Global News, CTV News, CBC Television, Rogers Sportsnet or possibly heard the great Don Cherry, a Canadian Sports legend, discuss Dominion Lending Centres.

Contact DLC Clearlease.com:

Dominion Lending Centres Clearlease
HEAD OFFICE, Bentall Two, Suite 900, 555 Burrard Street, Vancouver, BC, V7X 1M8, CANADA.
Mr. Pidgeon, Editor
Tel: (604) 696-1221 ext. 177
eMail: clearlease@gmail.com
Website: http://www.clearlease.com
News: http://clearlease.com/category/equipment-lease-blog/feed/rss
Twitter: @clearlease

###Dominion Lending Centres Clearlease Reports Caledonia Mining Corporation (TSX:CAL) Q4 profit hits $1.1M, reversing year-earlier loss



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