Caledonia Mining Corporation Plc (LON:CMCL) has announced record gold production from the Blanket Mine in Zimbabwe for the quarter ended 30th June 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 20,091 ounces, a record for any quarter
· 20 per cent increase in quarterly production on the 16,710 ounces produced in Q2 2021
· Gold produced for the first half of 2022 was 38,606 ounces, approximately 29 per cent more than the 29,907 ounces produced in the first half of 2021
· Reiterated gold production for 2022 is expected to be between 73,000 – 80,000 ounces[1]
Commenting on the announcement, Dana Roets, Caledonia Mining Corporation Chief Operating Officer, said:
“Production in the first half of 2022 was excellent and exceeded our expectations. Production excludes an estimate of approximately 1,500 ounces of recoverable gold included in an ore stockpile which will be processed after the commissioning of additional milling capacity in the next few weeks.
“We have now achieved our quarterly target of 20,000 ounces and are on track to hit our annual production target of between 73,000 – 80,000 ounces of gold.”
[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.
