HomeGoldCaledonia Mining sets another production record

Caledonia Mining sets another production record

Caledonia Mining Corporation has announced gold production from the Blanket Mine in Zimbabwe for Q3, 2021.

Commenting on the announcement, Steve Curtis, Chief Executive Officer said:

“I am delighted that this quarter we have once again set a new production record as Blanket begins to reap the rewards of the substantially increased production capacity following the commissioning of the Central Shaft in March 2021.

“The ramp-up in production towards our quarterly target of 20,000 ounces has met our best estimate and, consequently, we have been able to narrow our annual production guidance from 61-67,000 ounces to 65-67,000 ounces.

RELATED:
Caledonia acquires gold project in Zimbabwe
Caledonia posts profit of $13.9 million, 51% increase on Q2,2020
Caledonia begins process of listing on Victoria Falls Stock Exchange

“When we acquired Blanket from Kinross in 2006 our production in the third quarter of 2006 was 6,475 ounces – the Company has come a long way since then. Central Shaft provides the infrastructure required to access the deeper resources at Blanket for many years before any new vertical shaft deepening needs to be considered. The extra hoisting capacity provided by the shaft is the foundation to the production build-up to 80,000 ounces from next year onwards.

“The completion of Central Shaft and the resultant increase in production also means that we are able to execute other areas of our growth strategy such as the agreement to acquire Maligreen that we announced last month. This is an exciting time for the Company and I look forward to continuing to update shareholders of our progress.”

LATEST FEATURES