Caledonia Mining Q1 profits surge on output and rising gold price

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1d ago 6:59

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Caledonia Mining Corporation PLC chief executive Mark Learmonth talked with Proactive's Stephen Gunnion about the company’s strong first-quarter performance, driven by a rise in both gold production and gold prices. Learmonth highlighted that Caledonia sold approximately 19,000 ounces of gold in the quarter, up from 17,500 ounces in Q1 2024, and achieved a gold price of just under $2,900 per ounce. This led to gross profit nearly doubling from $14 million to $27 million, and earnings per share increasing from $0.07 to $0.45. The company is investing $41 million in capital expenditure this year, with $34 million allocated to sustaining operations at the Blanket mine. Projects include a new tailings facility, underground development to improve flexibility, and engineering upgrades for efficiency, such as converting the main winder to lower power consumption. Learmonth stated, “To some extent, we're using the higher gold price to invest for the extended life of mine and to build in more and more efficiency and robustness.” On safety, changes in senior personnel have led to visible management presence underground and proactive incident prevention strategies. Updates were also provided on Bilboes and Motapa, where Caledonia is revisiting feasibility approaches, continuing exploration, and exploring small-scale, high-return opportunities. Visit Proactive's YouTube channel for more videos, and don’t forget to give the video a like, subscribe to the channel, and enable notifications for future content. #CaledoniaMining #GoldMining #MarkLearmonth #ZimbabweMining #MiningStocks #GoldInvestment #Q1Results #MiningCapex #GoldProduction #BilboesProject #MotapaExploration #MiningUpdates #ProactiveInvestors

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