Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL)’s comment that production and costs at the 64%-owned Blanket mine for 2024 to date have been consistent with guidance provides some reassurance in the profit warning, notes house broker Liberum.
Zimbabwe-focused Caledonia has already guided this year to production of 74-78,000oz (100% basis) at US$870-970/oz on-mine cost and US$1,370-1,470/oz AISC.
Mosman Oil and Gas Ltd (AIM:MSMN) is continuing its preparations for exploration in Australia, today telling investors it has committed to the acquisition of long lead items essential for seismic exploration.
It follows the recently announced partnership agreement with Greenvale, which is awaiting ministerial approval.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) warned that one-off costs will mean a reduction in profits this year even with a strong production performance from its Blanket gold mine in Zimbabwe.
Production for 2023 was 75,416 ounces of gold with revenues in line with expectations, but increased costs and several significant one-off charges in the final quarter of the year have resulted in lower profits, said the statement.
Faron Pharmaceuticals Ltd has successfully secured €3.2 million through convertible loans from a group of existing shareholders as a first step towards securing its financial future.
The move addresses the company's immediate short-term requirements, enabling critical payments to third parties under agreed waivers with IPF Fund II SCA, SICAV-FIAR.
Bradda Head Lithium said equipment has been moved to its Basin Project, Arizona for a six-hole expansion drilling programme to boost the mineral resource at the deposit.
A sonic drilling campaign in 2023 increased BHL's Inferred and Indicated MRE at Basin three-fold.