Caledonia Mining Corporation PLC (LON:CMCL) said its largest shareholder has increased its stake in the company to just over 20% of the shares in issue.
The mining and exploration company said the stakeholder – African investment company Allan Gray – now holds a total of 2,130,668 shares.
READ: Caledonia Mining achieves new production record at Blanket gold mine
The news comes after Caledonia reported record production from its Blanket mine in Zimbabwe in its full-year results, with 56,133 ounces of gold unearthed, an 11.5% increase from the previous year.
The company also reported gross profits of US$26.32mln, up from US$23.49mln previously.
Shares in Caledonia Mining were steady in mid-afternoon trading at 512.5p.