Victoria Falls Stock Exchange-listed gold-focused miner, Caledonia Mining Corporation has recorded a record 569.6 kgs of gold during the quarter ended June 30, 2022, a 20 per cent increase compared to the same quarter last year.
Rudairo Mapuranga
The company which is confident of achieving its target production guidance of between 73 000 ounces and 80 000oz this year on account of sustained strong production at its sole mine, Blanket mine recorded an approximately 29 per cent increase during the first half of the year.
Gold produced for the first half of 2022 was 38,606 ounces from the 29,907 ounces produced in the first half of 2021.
According to Caledonia Chief Operating Officer Dana Roets, the company’s gold production for 2022 is expected to be between 73,000 – 80,000 ounces with the first-year performance exceptional.
“Production in the first half of 2022 was excellent and exceeded our expectations. Production excludes an estimate of approximately 1,500 ounces of recoverable gold included in an ore stockpile which will be processed after the commissioning of additional milling capacity in the next few weeks.
“We have now achieved our quarterly target of 20,000 ounces and are on track to hit our annual production target of between 73,000 – 80,000 ounces of gold,” Roets said.