Caledonia Mining (AIM: CMCL)
Announced impressive operating and financial results for the quarter and the six months ended June 30, 2022.
Gross revenues were $36.99 million, a 23.4 per cent increase on the $29.98 million achieved in Q2 2021, and gross profit of $17.9 million, a 28.8 per cent increase on the $13.9 million in Q2 2021.
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| Caledonia Mining | AIM / NYSE : CMCL |
| Stage | Production, exploration |
| Metals | Gold |
| Market cap | £107 m @ £8.35 |
| Location | Zimbabwe |
Caledonia Mining Corporation Plc
Results for the Quarter ended June 30, 2022
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(AIM: CMCL / NYSE AMERICAN: CMCL)
August 11, 2022: Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) announces its operating and financial results for the quarter and the six months ended June 30, 2022 (the “Quarter” and “First Half” respectively).
Further information on the financial and operating results for the Quarter and First Half can be found in the management discussion and analysis (“MD&A”) and the unaudited financial statements which are available on the Company’s website, and which have been filed on SEDAR.
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Financial Highlights for the Quarter ended June 30, 2022
· Gross revenues of $36.99 million, a 23.4 per cent increase on the $29.98 million achieved in the second quarter of 2021 (“Q2 2021”).
· Gross profit of $17.9 million, a 28.8 per cent increase on the $13.9 million in Q2 2021.
· EBITDA (excluding asset impairments, depreciation and net foreign exchange gains) of $17.8 million, a 23.8 per cent increase on the $14.0 million in Q2 2021. This represents EBITDA (excluding asset impairments, depreciation and net foreign exchange gains) for the six months ended June 30, 2022 of $31.5 million (H1 2021: $23.5 million).
· On-mine cost of $692 per ounce (Q2 2021: $715 per ounce).
· All-in sustaining cost (“AISC”)[1] of $925 per ounce (Q2 2021: $901 per ounce). The 3 per cent increase to the comparable quarter reflects the lower on-mine cost per ounce offset by higher administrative costs.
· Basic IFRS earnings per share (“EPS”) of 87.7 cents (Q2 2021: 21.1 cents).
· Adjusted EPS of 56.2 cents (Q2 2021: 62.6 cents).
· Net cash from operating activities of $16.7 million (Q2 2021: $12.7 million).
· Net cash and cash equivalents of $10.9 million (Q2 2021, $16.7 million).
· Total dividend paid in the Quarter of 14 cents per share paid in April 2022; a further dividend at the same rate of 14 cents per share was paid in July 2022.
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Operating Highlights
· 20,091 ounces of gold were produced in the Quarter, 20 per cent higher than the 16,710 ounces produced in Q2 2021 and a new production record for any quarter.
· 38,605 ounces were produced in the First Half, 29 per cent higher than the 29,907 ounces produced in the first half of 2021.
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To read the full news release, please click HERE
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