Caledonia’s Blanket Mine increases gold sales by 1...

Caledonia’s Blanket Mine increases gold sales by 17%

Zim Now Writer

Caledonia Mining Corp PLC has expressed excitement over production and increased gold sales increase at Blanket Mine

Blanket Mine gold sales rose 17% to 18 450 ounces sold during the first quarter ending March 31, 2024 from 15797 a year before, despite operations at the mine being hindered by the loss of eight production days..

The gold miner also realised 17 050 ounces of gold produced on a 100% basis at the mine, representing a 6% increase from a year before.

Caledonia Mining Chief Executive Officer, Mark Learmonth said: “Our significant investment in Blanket over the past seven years and completion of the central shaft has nearly doubled production, extended the mine life and allowed the restart of underground exploration in 2023.

“We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer.”

Caledonia reaffirmed its 2024 gold production guidance at Blanket of 74 000 to 78 000 ounces, compared to 75 416 ounces in 2023.

Caledonia Mining shares were down 1.4% at 860.00 pence on Wednesday morning in London.

The company owns a 64% stake in the Blanket Mine project.