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Caledonia on track to meet full-year production guidance

14th October 2019

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

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TSX-, NYSE- and Aim-listed Caledonia Mining’s Blanket mine, in Zimbabwe, produced 13 646 oz of gold in the third quarter ended September 30.

Output was 7.3% higher than the 12 712 oz produced in the second quarter.

Year-to-date production, however, decreased by 3.2% year-on-year to 38 306 oz.

Caledonia, nevertheless, remains confident of meeting its full-year production guidance of between 50 000 oz and 53 000 oz, as well as its target of producing 80 000 oz/y of gold by 2022.

CEO Steve Curtis said production during the third quarter had had “a difficult start” owing to electricity supply interruptions during July and early August.

This improved later in the quarter, he added.

Caledonia also completed the shaft sinking phase of the central shaft project during the quarter, marking a significant milestone for the miner.

The shaft has now entered the equipping phase of the project, which Caledonia expects to be completed in mid-2020.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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