Caledonia Mining set a new first quarter production record

Caledonia Mining

Caledonia Mining Corporation Plc (LON:CMCL) has announced gold production from the Blanket Mine in Zimbabwe for the quarter ended 31 March 2022. All production numbers are expressed on a 100 per cent basis and are based on the final assay at the refiners.

Highlights

·    Quarterly gold production of 18,515 ounces, a record for any first quarter

·    40 per cent increase in quarterly production on the 13,197 ounces produced in Q1 2021

·    Reiterated gold production for 2022 is expected to be between 73,000 to 80,000 ounces[1]

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

“I am delighted that during this quarter we have set a new first quarter production record. 18,515 ounces is ahead of our expectations and reflects the increased capacity at Central Shaft.

“The ramp-up in production towards our quarterly target of 20,000 ounces means that we are on track to meet our annual production target.

“As previously announced, very sadly during the quarter a fatal accident resulted in the death of a Blanket employee.  We always take the safety of our employees very seriously and I join my colleagues in expressing our sincere condolences to the family, friends and colleagues of the deceased.”

[1] Refer to the technical report entitled “Caledonia Mining Corporation Plc NI 43-101 Technical Report on the Blanket Gold Mine, Zimbabwe” dated May 17, 2021 prepared by Minxcon (Pty) Ltd and filed by the Company on SEDAR on May 26, 2021. Mr Dana Roets (B Eng (Min.), MBA, Pr.Eng., FSAIMM, AMMSA), Chief Operating Officer, is the Company’s qualified person as defined by Canada’s National Instrument 43-101 and has approved any scientific or technical information contained in this news release.
You might also enjoy reading  Caledonia Mining new solar plant at Blanket Mine now generating power
Find more news, interviews, share price & company profile here for:

Good news travels fast (but only if you make that happen). Share on:

Twitter
LinkedIn
Facebook
Email
Reddit

AIM All Share Index