Caledonia Mining Corporation on track to hit 80,000 ounce target

Caledonia Mining Corporation

Caledonia Mining Corporation Plc (LON:CMCL) has announced quarterly gold production from the Blanket Mine in Zimbabwe for the quarter ended March 31, 2021.

13,197 ounces of gold were produced during the Quarter. Caledonia remains on track to hit its production guidance of between 61,000 – 67,000 ounces for the full year.

Commenting on the announcement, Steve Curtis, Chief Executive Officer, said:

“Production in the first quarter of 2021 was slightly below our target and below the comparable quarter in 2020 albeit at a level which allows us to maintain our 2021 production guidance of 61,000 to 67,000 ounces for the full year. 

“Gold production has often been lower in the first quarter of each year and increases in the following quarters. The rainy season this year saw unprecedented rainfall causing flooding at the mine and resulted in several lost shifts during the period.

“These temporary issues have now been rectified and with the Central Shaft now operational we remain on track to hit our 80,000 ounce target in 2022.”

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