15th Oct 2024 17:25
(Alliance News) - Caledonia Mining Corp PLC reiterated its full year guidance on Tuesday following consistent gold production at Blanket mine in Zimbabwe.
The Zimbabwe-focused business said it expects to produce between "74,000 and 78,000 ounces" of gold this year as previously guided in its second quarter results.
The gold producer reported a marginal decline in third quarter output at its primary asset, with production sliding to 18,992 ounces in 2024 from 21,772 ounces in the prior year, but with 2023 representing a "quarterly record" for the mine.
For the first nine months of the year, gold production at Blanket remained consistent, increasing to 56,815 ounces in 2024 from 55,244 ounces in 2023.
The AIM-listed business confirmed that future dividends will be declared alongside its quarterly results in a bid to "streamline board processes".
Caledonia shares closed up 1.7% at 1,190.00 pence in London on Tuesday.
By Christopher Ward, Alliance News reporter
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.