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Proactiveinvestors is a leading multimedia news organization, investor portal and events management business with offices in New York, Sydney, Toronto and London. Proactiveinvestors operates five financial websites in four languages providing breaking news, comment and analysis on hundreds of... More
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  • Caledonia Mining Says Output From Blanket Gold Mine Rises 11% 0 comments
    Jul 2, 2013 3:15 PM

    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.

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