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Caledonia Mining 'very much on track' to hit production targets, says CFO

Published: 12:15 06 Oct 2016 BST

Gold production at Caledonia Mining Corporation’s (LON:CMCL) Blanket mine in Zimbabwe increased by almost a quarter in the three months to September. The 13,430 ounces of gold represented a 23% year-on-year increase and a 7% rise quarter-on-quarter.

Chief financial officer Mark Learmonth told Proactive: ''We're benefiting from a falling average cost of production, increased sales because we're producing and selling more gold and also, until the last couple of days, a significantly higher gold price - all three of which provide a fairly brisk following wind.”

The miner is also undertaking a major upgrade of Blanket, including opening a new central shaft to access deeper levels.

Caledonia Mining Corporation hits 2023 guidance despite challenging start

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) CEO Mark Learmonth speaks to Thomas Warner from Proactive London after the Zimbabwe-focused gold producer released an update on production at its Blanket Gold Mine for calendar year 2023. Learmonth explains that Caledonia managed to...

on 15/1/24