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Caledonia Mining Corporation shows significant production increase

Caledonia Mining Corporation Plc (LON:CMCL) has today announced quarterly gold production from the Blanket Mine in Zimbabwe for the quarter ended March 31, 2020. All production numbers are expressed on a 100 per cent basis and are based on mine production data and are, therefore, subject to adjustment following final assay at the refiners.

14,233 ounces of gold were produced during the Quarter, an increase of 19 per cent on the 11,948 ounces produced in the corresponding quarter of 2019.

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

“I am very pleased to report the production of 14,233 ounces for the first quarter of 2020, a significant increase of 19 per cent on the corresponding quarter of 2019. This is a credit to our operational team and indicates that the operational improvements in the latter part of 2019 have continued into 2020. Notwithstanding restrictions in Zimbabwe, referred to in our RNS of 30 March 2020, we remain in production and are maintaining good levels of output.

“In previous years, gold production was lower in the first quarter of each year and increased in the following quarters. Subject to the mine not experiencing any unforeseen production interruptions associated with the COVID-19 Pandemic, I expect the quarterly production profile to be more evenly balanced throughout 2020 because of the increased focus on development.

“To begin the year with a strong start, at a time of firm gold prices, has established a strong base which is helpful in withstanding any disruptions that may arise as a result of the current COVID-19 pandemic.”

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