Caledonia Mining Corporation PLC has announced the Q1 2024 production results from the Blanket Mine in Zimbabwe. Despite 8 fewer production days compared to Q1 2023, the mine saw a 6% increase in gold production, with 17,050 ounces produced. Additionally, gold sales in Q1 2024 increased by 17% compared to Q1 2023, with 18,450 ounces sold. This includes 3,057 ounces of gold work in progress classified as inventory at the end of 2023. The company has reiterated its 2024 gold production guidance at Blanket of 74,000 to 78,000 ounces.
Mark Learmonth, Chief Executive Officer, expressed satisfaction with the strong start to 2024 production at Blanket, attributing the excellent results to the significant investment in the mine over the past seven years and the completion of the Central Shaft. He emphasized that this investment has nearly doubled production, extended the mine life, and allowed the restart of underground exploration in 2023. Learmonth also highlighted Blanket as the solid foundation for growth as the company pursues its strategy to become a multi-asset gold producer.
The company's contact information for further inquiries was provided at the end of the announcement. Additionally, a cautionary note concerning forward-looking information was included, emphasizing the risks and uncertainties associated with the company's current expectations, intentions, plans, and beliefs. It also highlighted the factors and assumptions on which the forward-looking information is based, as well as the potential risks that could cause actual results to differ from the forward-looking statements.