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Caledonia Mining Says Output From Blanket Gold Mine Rises 11%

Caledonia Mining Corporation (LON:CMCL) (TSE:CAL) said its 49%-owned Blanket Mine, in Zimbabwe, produced 11,592 ounces of gold in the last quarter.

This represented a rise of 10.7% compared with the comparable period last year and 0.3% advance on the three months prior.

The total for the first half of 2013 was 22,064 ounces, up 6.5% on the same period last year.

Management believes Blanket will deliver 40,000 ounces of the precious metal in 2013 - and Tuesday's figures represent a good start.

Cash operating costs for the second quarter were unknown.

However they were US$669 an ounce in the first quarter and US$605 in the final three months of 2012.

Even at the higher number, Blanket remains an incredibly robust project, particularly in the current environment for gold.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.