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.
"Gold production has often been lower in the first quarter of each year and increases in the following quarters. The rainy season this year saw unprecedented rainfall causing flooding at the mine and resulted in several lost shifts during the period.
"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."
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