12th Oct 2022 12:18
(Alliance News) - Caledonia Mining Corp PLC on Wednesday reported "record" quarterly gold production at the Blanket Mine in Zimbabwe and reiterated its full-year guidance.
The gold producer reported that in the three months ended September 30 it produced 21,120 ounces of gold, up 11% against the 18,965 ounces produced in the same quarter a year prior.
In the nine months to the end of September, production totalled 59,726 ounces, up 22% from the 48,872 ounces the previous year.
Looking ahead, Caledonia said it expects full-year gold production to be at the top end of guidance between 73,000 to 80,000 ounces.
"We continue to work hard on completing the transaction for Bilboes and in the meantime will restart the oxide operations with the expectation that it will return to profit during the second quarter of 2023," said Chief Operating Officer Dana Roets.
Shares in Caledonia were up 0.4% to 908.50 pence each in London on Wednesday around midday.
By Sophie Rose; [email protected]
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