Entering text into the input field will update the search result below

Caledonia Mining's Q2 Blanket Mine production hits record high

Jul. 13, 2022 10:59 AM ETCaledonia Mining Corporation Plc (CMCL) StockBy: Carl Surran, SA News Editor3 Comments

nugget gold

bodnarchuk/iStock via Getty Images

Caledonia Mining (NYSE:CMCL) said Wednesday its Blanket mine in Zimbabwe achieved record quarterly gold production of 20,091 oz in Q2, a 20% Y/Y increase.

Caledonia (CMCL) reiterated full-year gold production guidance of 73K-80K oz after H1 2002 output totaled 38.6K oz, up 29% from the first half of 2021.

The improved performance is in line with the life of mine plan for the project, and reserves are expected to run out in 2026, Gold Panda notes in a bearish analysis published on Seeking Alpha.

Recommended For You

Comments (3)

Have a tip? Submit confidentially to our News team. Found a factual error? Report here.

DTEJD1997 profile picture
Hey all:

Looks like the new central shaft if finally starting to kick in on production. I still think there is a good chance that CMCL actually produces MORE than 80K ounces this year. I'm thinking maybe 82K ounces?

I also don't think that the Blanket Mine is going to run out of gold and stop production in 2026. It has been producing for over 100 years now. At no point did they have 30,40,50,100 years of reserves on the books.

Management has stated numerous times that they expect to be producing for many more years to come. This can be heard/seen in quarterly conference calls and company interviews on the YouTube.

Why would they build a new shaft? a solar plant, upgrade the crushing mill if they are running out of gold in 3-4 years? Management has a substantial portion of their personal wealth invested in this company.

Management (and CMCL's workers) have done a TREMENDOUS job of operating Blanket mine through the years. They have produced hundreds of well paid jobs, paid a lot of taxes, brought foreign currency to ZIM, and paid tremendous dividends through the years. I fully expect the track record of management and Blanket mine to continue into the future.
@DTEJD1997 There is no chance of these reserves running out in a few years, all the recent broker notes have reserves to the late 2030's at a very attractive AISC number and an increased production profile as you note. A well run operation, that pays a decent dividend and has upside via the potential development of other sites within the country.
DTEJD1997 profile picture

That is not what is being reported in the above article. SA is taking what a poster has mistakenly concluded as news and fact. I have contact Carl Surran and SA about this, but have not heard anything back on this.

This is a huge mistake on Seeking Alpha's part, and is damaging to their brand and business.

About CMCL Stock

SymbolLast Price% Chg
Market Cap
Yield (TTM)
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

Related Stocks

SymbolLast Price% Chg
Caledonia Mining Corporation Plc
Dakota Gold Corp.
Gold Royalty Corp.
Perpetua Resources Corp.
GoldMining Inc.
To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.