Caledonia Mining tweaks production guidance as development work progresses
The UK and Toronto-listed group now expects to produce between 52-000–57,000 ounces of gold in 2017
Company
Caledonia Mining Corporation PLC
LON:CMCL
Caledonia Mining Corporation Plc is a Zimbabwean focused exploration, development and mining corporation. The company owns a 64% stake in the gold-producing Blanket Mine, 100% stakes in the Bilboes Sulphide Project and the Motapa and Maligreen gold mining claims, all situated in Zimbabwe. After increasing the production at Blanket to 80,000oz in 2022, its main focus areas are to maintain production at around 75-80,000oz at Blanket, progress the Bilboes project and become a multi-asset gold producer in Zimbabwe.
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Caledonia Mining on track to hit targets in 2017 as quarterly production at the 49%-owned Blanket mine rose by 18%.
Some 12,794 ounces of gold were produced, putting it on track for annual production of 60,000 ounces.
Caledonia Mining achieves record fourth quarter gold production
Caledonia Mining expects to achieve a 19% increase in 2017 production as it continues to ramp up the Blanket mine in Zimbabwe
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Caledonia Mining confident of earnings uplift as production hits record
Over the year, the mine produced 50,351 ounces, up 17.6%
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The distribution of cash comes as Caledonia continues to invest in ramping up production from the deeper lying mineralisation at the Blanket Mine.
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Caledonia Mining says no impact from Zimbabwe's new bond notes
The RBZ, Zimbabwe’s central bank, announced the introduction of the new notes at the weekend with distribution beginning yesterday.
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Caledonia Mining enjoys another quarter of record production
"We continue to see the benefits of our investment in the mine over the past two years," said Steve Curtis, Caledonia’s president and CEO
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Caledonia Mining restates output guidance but expects 2016 earnings hit
Average grade in October was below expectations, but this is temporary. the gold miner said.