Caledonia Mining Corporation Plc COM SHS NPV (DI) (LON:CMCL) talks to DirectorsTalk about its record production numbers at Blanket Mine in Zimbabwe. Steve explains what has driven this increase in production, why its sustainable, other improvements in the pipeline between now and 2021 and what investors should be looking out for in terms of newsflow over the coming months.
Following the implementation of indigenisation in Zimbabwe, Caledonia’s primary asset is a 49% interest in an operating gold mine in Zimbabwe (“Blanket”). The company shares are listed in Canada on the Toronto Stock Exchange as “CAL”, on London’s AIM as “CMCL” and are also traded on the American OTCQX as “CALVF”. At 30 September 2016, Caledonia had net cash of US$12.4 m. Blanket plans to increase production from 50,351 ounces in 2016 to approximately 80,000 ounces in 2021; Blanket’s target production for 2017 is approximately 60,000 ounces.
Caledonia Mining Corporation Plc COM SHS NPV (DI) said that target gold production for 2017 is approximately 60,000 ounces at an estimated on-mine cost* in the range of $600 to $630 per ounce and an All-in Sustaining Cost* in the range of $810 to $850 per ounce. Blanket remains on-track to increase annual production to approximately 80,000 ounces of gold by 2021.