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Caledonia Mining announces Q1 2019 production results

Mining News - Published on Thu, 18 Apr 2019

Image Source: SteelGuru
Caledonia Mining Corporation Pic announced quarterly gold production from the Blanket Mine (“Blanket") in Zimbabwe for the quarter ended March 31, 2019. All production numbers are expressed on a 100 per cent basis and are based on mine production data and are therefore subject to adjustment following final assay at the refiners. Approximately 11,948 ounces of gold were produced during the Quarter. Caledonia maintains its 2019 full year production guidance of 53,000 ounces to 56,000 ounces and remains on track with progress towards its target of 80,000 ounces by 2022.

Commenting on the announcement, Steve Curtis, Chief Executive Officer, said: “Production in the first quarter of 2019 was slightly below our target and below the comparable quarter in 2018 (Q1 2018: 12,924), albeit at a level which allows us to maintain our 2019 production guidance of 53,000 to 56,000 ounces for the full year. Continued difficulties with unstable electricity supply and grade dilution which we experienced in 2018 had an adverse effect on production, but improved drilling and blasting practices have been put in place in pursuit of improved grade control and I am pleased to say that efforts to minimize dilution are proving successful.”

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Posted By : Rabi Wangkhem on Thu, 18 Apr 2019
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