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Caledonia on track to meet upper end of yearly guidance

Aim- and NYSE-listed Caledonia Mining Corporation says it is on track to produce between 65 000 oz and 67 000 oz of gold this year from the Blanket mine, in Zimbabwe.

The company produced a record 18 965 oz in the three months ended September 30, representing a 25% year-on-year increase.

Caledonia is on track to produce 80 000 oz of gold in 2022, as it is starting to use extra hoisting capacity at the mine’s new Central shaft.

“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.

““The ramp-up in production towards our quarterly target of 20 000 oz has met our best estimate and, consequently, we have been able to narrow our annual production guidance from between 61 000 and 67 000 oz to between 65 000 and 67 000 oz,” comments CEO Steve Curtis. Mining Weekly

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