Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) CEO Mark Learmonth tells Proactive's Stephen Gunnion that a tough first quarter on production was more than rescued by the gold price, with EBITDA up 50% and free cash flow tripling to over $12 million despite output coming in at 14,700 ounces on weaker grades.
Learmonth is confident the second half will be stronger: "We expected the first half to be weaker than the second half." Initiatives underway at Blanket Mine include faster underground development, better access to higher-grade zones and a move to a seven-day working schedule.
Deep-level drilling is also delivering, with grades and widths beating expectations. At Bilboes, engineering work is progressing well, with long-lead equipment orders expected in Q3 and construction activity before year-end.
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Please see the announcement here.
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