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Caledonia Mining maintains dividend guidance for 2017

A fall in grades took the shine off the first half of the year for Caledonia Mining, but the dividend remains intact
Caledonia Mining maintains dividend guidance for 2017
The Blanket mine continues to throw off cash

Caledonia Mining Corporation PLC (LON:CMCL) produced just over 25,000 ounces of gold in the first half of 2017, at an all-in sustaining cost of US$856 per ounce.

However, on-mine costs per ounce did rise as grades fell and certain logistical constraints underground restricted output.

Operating cash flow during the second quarter of the year amounted to US$4.7 mln.

WATCH: Caledonia Mining optimistic despite challenging second quarter

It’s envisaged that the current dividend of US$0.275 cents per annum will be maintained.

“We remain confident of achieving our 2017 full year guidance of between 52,000 and 57,000 ounces,” said chief executive Steve Curtis.

The company remains on track to boost production to 80,000 ounces per year by 2021.

READ: Caledonia Mining Corporation on schedule with Blanket ramp up



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