NioCorp Developments Ltd. press release

Caledonia Mining back on track at Blanket, reiterates full-year production guidance

2023-10-11

NASDAQ - Nasdaq Stock Market · Niobium · Scandium · Titanium · Rare Earth Elements · United States · Production & Operations

(NewsDirect)

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) CEO Mark Learmonth speaks to Proactive's Thomas Warner after releasing a Q3 production update for the gold producer's Blanket gold mine third quarter that puts the company back on track to reach its target for the full-year.

Learmonth explains that the third quarter saw production of nearly 21,800 ounces, surpassing expectations and marking a significant improvement from the first two quarters of the year. He addresses the challenges faced by Caledonia during the first half of 2023, describing them as "by no means systemic" and reaffirms the full-year production guidance of 75,000 to 80,000 ounces.

While the company is exploring new ventures, such as the Bilboes and Motapa Projects, Learmonth emphasises the integral role of the Blanket asset, describing it as the cornerstone for business growth. Looking ahead, he hopes for a smoother operation next year, aiming for a sustainable production rate of 80,000 ounces.

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Proactive UK Ltd

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