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Caledonia Mining Corp PLC reports increase in reserves and resources at Blanket gold mine

The report validates the company s medium-term production profile targeting 80,000 ounces per annum from 2022 Caledonia Mining Corp PLC (LON:CMCL, NYSE:CMCL) announced an increase in reserves and resources at its 64%-owned Blanket gold mine in Zimbabwe. Proven and probable reserves increased 1% to 528,000 ounces (or 17% including depletion of 84,925 ounces since the last update in July 2018) and measured and indicated (M&I) resources rose 12% to 902,000 ounces (or a 23% increase including depletion). “Today s announcement marks an additional milestone in the long track record of growing mineral resources and successfully converting inferred mineral resources into M&I to keep extending the life of mine at Blanket since its inception in 1906,” said chief executive Steve Curtis. 

Caledonia Mining Corporation entering a new period of growth

Caledonia Mining Corp has clear run with increasing production with Central Shaft commission

Caledonia Mining Corp has clear run with increasing production with Central Shaft commission Caledonia Mining Corporation PLC (NYSEAMERICAN:CMCL) (LON:CMCL) CFO Mark Learmonth tells Proactive the highlights for its first quarter of 2021 include commissioning the group s Central Shaft, which is now operational. Learmonth says it s an important milestone to allow to business to increase production to its target of 80,000 ounces of gold per annum from 2022 onwards. Quick facts: Caledonia Mining Corporation PLC Price: 1050 GBX

Caledonia Mining Corp PLC says flooding hit first-quarter gold output from Blanket mine, keeps output target for year

Caledonia Mining says flooding hits gold output from Blanket mine but keeps output target for year Gold production has often been lower in the first quarter of each year and increases in the following quarters, said chief executive Steve Curtis Caledonia Mining Corp PLC (LON:CMCL, NYSE:CMCL) said gold production was lower than anticipated in the first quarter at its Blanket mine in Zimbabwe, due to flooding, although it still expects to meet its output target for the year. The mine produced 13,197 ounces of gold in the first quarter, down from 14,233 ounces in the year-earlier period. Production in the first quarter of 2021 was slightly below our target and below the comparable quarter in 2020 albeit at a level which allows us to maintain our 2021 production guidance of 61,000 to 67,000 ounces for the full year,” said chief executive Steve Curtis.

Caledonia Mining on target to meet guidance despite lower-than-expected Q1 output | 19 April 2021

19 April 2021 | 08:13am StockMarketWire.com - Mining company Caledonia Mining reported that gold production fell short of its expectations in the first quarter, but said it remained on track to meet its annual output target. Production in the first quarter of 2021 was slightly below our target and below the comparable quarter in 2020 albeit at a level which allows us to maintain our 2021 production guidance of 61,000 to 67,000 ounces for the full year, the company said. The rainy season this year saw unprecedented rainfall causing flooding at the mine and resulted in several lost shifts during the quarter. These temporary issues have now been rectified and with the Central Shaft now operational we remain on track to hit our 80,000 ounce target in 2022, it added.

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