Caledonia Mining (AIM / NYSE: CMCL)

Announced record quarterly and annual production from the Blanket Mine in Zimbabwe for the quarter and year ended December 31, 2022.

The Company also provided guidance for the year to 31 December 2023 in respect of production, on-mine costs and capital expenditure at Blanket and at the Bilboes oxides project.

Caledonia Mining

Caledonia Mining	AIM: CMCL
Stage	Production, exploration
Metals	Gold
Market cap	£210 m @ £11.65
Location	Zimbabwe

RNS Number : 5978M

Caledonia Mining Corporation PLC

13 January 2023

Caledonia Mining Corporation Plc

Record Annual Production at Blanket Mine and Guidance for 2023

(NYSE AMERICAN: CMCL; ; VFEX: CMCL)

St Helier, January 13, 2023 – Caledonia Mining Corporation Plc ( AIM / NYSE: CMCL) (“Caledonia” or the “Company”) announces quarterly and annual production from the Blanket Mine in Zimbabwe (“Blanket”) for the quarter and year ended December 31, 2022.

The Company also provides guidance for the year to 31 December 2023 in respect of production, on-mine costs and capital expenditure at Blanket and at the Bilboes oxides project. All production numbers for 2022 are expressed on a 100 per cent basis and are based on final assays from the refiner.

Production Highlights

— Record gold production in 2022 of 80,775 ounces which exceeded the top end of the Company’s guidance and achieved its long-standing production target.

— 2022 annual production represents a 19.7 per cent increase on the 67,476 ounces produced in 2021.

— Quarterly gold production of 21,049 ounces, a 13.1 per cent increase on the 18,604 ounces produced in Q4 2021.

2023 Guidance

 
                                       Bilboes oxides          Blanket         Group consolidated 
 Gold production (oz)                 12,500 -17,000(1)   75,000 - 80,000(2)    87,500 - 97,000 
                                     ------------------  -------------------  ------------------- 
 On-mine cost/oz ($)(3)                 1,200 - 1,320         770 - 850           900 - 1,000 
                                     ------------------  -------------------  ------------------- 
 All-in sustaining cost/oz ($)(4)            N/A                 N/A             1,150 - 1,250 
                                     ------------------  -------------------  ------------------- 
 Capital expenditure ($'m)(5) (,6)           0.5                 28.3                 30.9 
                                     ------------------  -------------------  ------------------- 
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To read the full Caledonia Mining news release, please click HERE

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