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Caledonia Mining Corporation

Grade issues resolved at Blanket Mine says Caledonia Mining CFO Learmonth

Caledonia Mining PLC (LON:CMCL) expects to complete the sinking of its new central shaft at the Blanket mine in Zimbabwe within two weeks.

That is despite electricity outages affecting the country and hampering progress said Mark Learmonth, Caledonia’s chief financial officer.

Equipping and readying the new shaft will take a year, he added.

Once finished,  annual production will rise from an estimated 53-56,000oz this year to 80,000oz.

Higher dividends will follow as more cash is generated said Learmonth, who added grade issues at the mine had been resolved and it is on track to hit this year's production target.

Quick facts: Caledonia Mining Corporation

Price: 624 GBX

Market: AIM
Market Cap: £67.16 m
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Caledonia Mining reports 'excellent performance' at Blanket has continued...

Caledonia Mining PLC's (LON:CMCL) Mark Learmonth talks Proactive London's Andrew Scott through the miner's third quarter update. Production at its Blanket mine in Zimbabwe rose by 7% in the period. Gross profits increased 75% to US$8.5mln helped by a higher gold price, though the...

2 days, 22 hours ago

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