Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) latest production underlines the sustainability of the Blanket gold mine in Zimbabwe following the uncharacteristic issues of 2023, says house broker Liberum.
First half output of 37,800oz (33,500oz) exceeded Caledonia’s expectations with the guidance of 74-78,000 oz for the full year maintained.
“We remain of the view that the shares have been oversold, and reiterate our 'buy' rating,” said the broker.
Liberum’s target price is 1,321p against 795p, up 1.2% today.