Zimbabwe: Caledonia Records 19 Percent Surge in Gold Production

9 April 2020

Caledonia Mining Corporation has recorded 14 233 ounces of gold at Blanket Mine in the quarter ending 31 March 2020 representing an increase of 19 percent from the 11 948 ounces produced in the corresponding quarter of 2019.

Following the results, Caledonia Chief Executive Officer, Steve Curtis owed the positive figures to the operational team at Blanket Mine.

"I am very pleased to report the production of 14 233 ounces for the first quarter of 2020, a significant increase of 19 percent on the corresponding quarter of 2019.This is a credit to our operational team and indicates that the operational improvements in the latter part of 2019 have continued into 2020. Not withstanding restrictions in Zimbabwe, referred to in our RNS of 30 March 2020, were main in production and are maintaining good levels of output," he said.

Curtis remained positive that production will be evenly balanced throughout the year if covid-19 does not severely interrupt work at the mine.

"In previous years, gold production was lower in the first quarter of each year and increased in the following quarters. Subject to the mine not experiencing any unforeseen production interruptions associated with the COVID-19 Pandemic, I expect the quarterly production profile to be more evenly balanced throughout 2020 because of the increased focus on development.

"To begin the year with a strong start, at a time of firm gold prices, has established a strong base which is helpful in withstanding any disruptions that may arise as a result of the current COVID-19 pandemic."

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