Caledonia Mining Corporation Plc reports strong Q1 performance with increased gold revenue and production.

From GlobeNewswire: 2025-05-12 02:00:00

Caledonia Mining Corporation Plc announces strong Q1 performance, with gold revenue reaching $56.2 million, a 46% increase from Q1 2024. Gross profit nearly doubled to $26.9 million, while net profit attributable to shareholders rose to $8.9 million. Gold production at Blanket Mine and Bilboes oxide mine increased by 9.3%. Operating profit reached $18.7 million.

Costs at Caledonia Mining Corporation Plc saw an increase in on-mine cost per ounce to $1,202 and all-in sustaining cost per ounce to $1,797 in Q1 2025. The company is focusing on cost control initiatives to manage these expenses effectively. Net cash from operating activities more than doubled to $13.3 million, providing strong internal funding for capital investments.

Blanket Mine produced 18,671 ounces of gold in Q1 2025, a 9.5% increase from the previous year. The Bilboes project produced 435 ounces of gold, with a feasibility study in progress to optimize project economics. Caledonia has launched a $2.8 million exploration program at Motapa.

Under new management, Caledonia has implemented comprehensive safety improvements led by the Chief Operating Officer, enhancing accident investigation, real-time monitoring, and safety training. The company also made key leadership changes and added new board members to strengthen governance.

Caledonia Mining Corporation Plc reaffirms its 2025 production guidance of 74,000 to 78,000 ounces of gold from Blanket Mine. Cost guidance remains unchanged, with on-mine cost expected to be $1,050-$1,150 per ounce and AISC projected at $1,690-$1,790 per ounce. Capital expenditure for 2025 is forecast at $41.0 million, fully funded from existing cash reserves and operating cash flow.



Read more at GlobeNewswire:: Caledonia Mining Corporation Plc: Results for the Quarter