Caledonia Mining Outlined Profitable Gold Production and Future Growth Plans
October 04, 2022 03:05:43 PM
The company declared quarterly dividend of $0.14 per share.
By Paul Ploumis
SEATTLE (Scrap Monster): The Corporate Presentation 2022 by Caledonia Mining Corporation plc. highlights its profitable gold production during the year and ambitious future growth plans.
As per the report, it has been able to establish itself as a profitable gold producer by expanding production at Central Shaft from the Blanket Mine in the Gwanda Greenstone Belt, Zimbabwe. In another key development, the company had signed an agreement in July to purchase the Bilboes high-grade open pit gold project in Zimbabwe for a total consideration of 5,123,044 Caledonia shares representing approximately 28.5 per cent of Caledonia’s fully diluted equity, and a 1 per cent net smelter royalty.
The company declared quarterly dividend of $0.14 per share. Furthermore, it is on track to achieve earlier forecast production of 73,000 to 80,000 ounces of gold during the current year at all-in sustaining costs (AISC) of $880-$970 per ounce.
As part of its drive towards a more sustainable future, the miner is constructing a 12 megawatt solar plant at a cost of approximately $14 million. This is expected to provide nearly 27% of Blanket Mine’s total daily electricity demand. The plant, aimed at reducing Caledonia’s GHG emissions, is expected to become operational in Q3 this year.
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