12th Aug 2024 19:09
Caledonia Mining Corp PLC - Jersey, UK-based gold producer with operations in Zimbabwe - Revenue in the quarter to June 30 rises 35% to USD50.1 million from USD37.0 million a year prior due to higher gold production and a higher gold price. Pretax profit multiplies to USD15.5 million from USD1.5 million. Basic earnings per share are USD0.43 compared with losses per share of USD0.01. Profit receives boost from 7.7% drop in all-in sustaining cost to USD1,253 per ounce from USD1,357 per ounce before. This reflects lower on-mine cost per ounce offset by higher sustaining capital expenditure and increased administrative expenses. Declares dividend of US 14 cents for the quarter, unchanged from the first quarter.
Chief Executive Mark Learmonth says: "This has been an excellent quarter, during which profitability benefitted from higher gold production, a higher gold price and lower costs per ounce. With today's results, we remain on track to achieve our production and cost guidance for the year."
Current stock price: 866.80 pence
12-month change: up 3.2%
By Jeremy Cutler, Alliance News reporter
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