Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) CEO Mark Learmonth joined Proactive's Stephen Gunnion with an encouraging production update from the Blanket Mine in Zimbabwe.
Gold output rose to 17,360 ounces in Q2, up 18% from 14,767 ounces in Q1, as the company made progress in restoring access to higher-grade mining areas. Grades have been improving steadily since January, averaging 2.88 grams per tonne in Q2 and tracking at around 3.05g/t so far in July — a level Learmonth expects to hold for the rest of the year.
Full-year guidance of 72,000 to 76,500 ounces remains firmly in place, with production expected to be weighted towards the second half. Three factors underpin that confidence: improving access to higher-grade ore, the completion of an elution plant upgrade from September, enabling the processing of stockpiled fine-grain loaded carbon, and additional ore processing capacity following the introduction of a seven-day working week from June.
Learmonth said the measures taken to restore access to higher-grade ore are "gaining traction" and that the company remains confident in hitting its full-year target.
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