REG - Caledonia Mining Crp - Blanket Mine Q1 2025 Production

Caledonia MiningAnnouncement

15/04/2025 07:02

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250415:nRSO9795Ea&default-theme=true

RNS Number : 9795E  Caledonia Mining Corporation PLC  15 April 2025

Caledonia Mining Corporation Plc

Blanket Mine Q1 2025 Production

 

Record Q1 gold production sets strong foundation for 2025

 

(NYSE AMERICAN, AIM and VFEX: CMCL)

 

St Helier, 15 April 2025 - Caledonia Mining Corporation Plc ("Caledonia" or
"the Company") announces Blanket Mine ("Blanket") gold production for the
quarter ended March 31, 2025 ("Q1 2025" or the "Quarter").

 

Highlights

 * Quarterly gold production of 18,671 ounces, exceeding 17,050 ounces produced
in the first quarter of 2024 ("Q1 2024").

 * New first quarter production record, surpassing the previous high of 18,515
ounces set in the first quarter of 2022.

 * Tonnes milled for the Quarter were 201,755 tonnes, 23,793 tonnes (13.4%) above
expectation.

 * The surface stockpile increased significantly to approximately 15,000 tonnes
as run-of-mine production exceeds milling capacity.

 * Blanket remains on track to achieve gold production guidance of 74,000-78,000
ounces this year.  1 

 

Commenting on the results, Mark Learmonth, Chief Executive Officer, said:

 

"I'm delighted to report that production in Q1 2025 has set a new record for
production in a first quarter at Blanket, with over 18,500 ounces produced Ð
a particularly strong performance given that the first quarter is
traditionally our weakest."

 

"This achievement reflects continued operational improvements and the
dedication of our team on the ground. The significant increase in both tonnes
milled and the surface stockpile provide a strong foundation for the remainder
of the year."

 

"This is an excellent start and with a strong gold price we are well
positioned to generate healthy cash flows and to continue investing in our
growth projects."

 

 1  Refer to the technical report entitled "NI 43-101 Technical Report on
the Blanket Gold Mine, Zimbabwe" with effective date December 31,
2023 prepared by Caledonia Mining Corporation Plc and filed by the Company
on SEDAR+ (https://www.sedarplus.ca (https://www.sedarplus.ca/) ) on May 15,
2024.

 

Craig James Harvey, MGSSA, MAIG, Caledonia Vice President, Technical Services,
has reviewed and approved the scientific and technical information contained
in this news release. Craig James Harvey is a "Qualified Person" as defined
by each of (i) the Canadian Securities Administrators' National Instrument
43-101 - Standards of Disclosure for Mineral Projects and (ii) sub-part 1300
of Regulation S-K of the U.S. Securities Act.

 

Enquiries

 Caledonia Mining Corporation Plc

 Mark Learmonth                                              Tel: +44 1534 679 800

 Camilla Horsfall                                            Tel: +44 7817 841 793
 Cavendish Capital Markets Limited (Nomad and Joint Broker)

 Adrian Hadden                                               Tel: +44 207 397 1965

 Pearl Kellie                                                Tel: +44 131 220 9775
 Panmure Liberum (Joint Broker)

 Scott Mathieson/ Ailsa MacMaster                            Tel: +44 20 3100 2000
 Camarco, Financial PR (UK)

 Gordon Poole                                                Tel: +44 20 3757 4980

 Julia Tilley

 Elfie Kent
 3PPB (Financial PR, North America)

 Patrick Chidley                                             Tel: +1 917 991 7701

 Paul Durham                                                 Tel: +1 203 940 2538
 Curate Public Relations (Zimbabwe)

 Debra Tatenda                                               Tel: +263 77802131

 IH Securities (Private) Limited (VFEX Sponsor - Zimbabwe)

 Lloyd Mlotshwa                                              Tel: +263 (242) 745 119/33/39

Note: The information contained within this announcement is deemed by the
Company to constitute inside information under the Market Abuse Regulation
(EU) No. 596/2014 (ÒMARÓ) as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018 and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.

 

Cautionary Note Concerning Forward-Looking Information

Information and statements contained in this news release that are not
historical facts are Òforward-looking informationÓ within the meaning of
applicable securities legislation that involve risks and uncertainties
relating, but not limited, to CaledoniaÕs current expectations, intentions,
plans, and beliefs.  Forward-looking information can often be identified by
forward-looking words such as ÒanticipateÓ, ÒbelieveÓ, ÒexpectÓ,
ÒgoalÓ, ÒplanÓ, ÒtargetÓ, ÒintendÓ, ÒestimateÓ, ÒcouldÓ,
ÒshouldÓ, ÒmayÓ and ÒwillÓ or the negative of these terms or similar
words suggesting future outcomes, or other expectations, beliefs, plans,
objectives, assumptions, intentions or statements about future events or
performance. Examples of forward-looking information in this news release
include: the achievement of annual gold production in 2025, the continued
generation of healthy cash flows and investment in growth projects.  The
forward-looking information contained in this news release is based, in part,
on assumptions and factors that may change or prove to be incorrect, thus
causing actual results, performance or achievements to be materially different
from those expressed or implied by forward-looking information.  Such factors
and assumptions include, but are not limited to: the successful implementation
of mine plans, the establishment of estimated resources and reserves, the
grade and recovery of minerals which are mined varying from estimates, success
of future exploration and drilling programs, reliability of drilling, sampling
and assay data, the representativeness of mineralization being accurate,
success of planned metallurgical test-work, capital availability and accuracy
of estimated operating costs, obtaining required governmental, environmental
or other project approvals, inflation, changes in exchange rates, fluctuations
in commodity prices, delays in the development of projects and CaledoniaÕs
experience of project development in Zimbabwe and other factors.

 

To the extent any forward-looking information herein constitutes a financial
outlook or future oriented financial information, any such statement is made
as of the date hereof and included herein to provide prospective investors
with an understanding of the Company's plans and assumptions. Security
holders, potential security holders and other prospective investors should be
aware that these statements are subject to known and unknown risks,
uncertainties and other factors that could cause actual results to differ
materially from those suggested by the forward-looking statements.  Such
factors include, but are not limited to: risks relating to estimates of
mineral reserves and mineral resources proving to be inaccurate, fluctuations
in gold price, risks and hazards associated with the business of mineral
exploration, development and mining, risks relating to the credit worthiness
or financial condition of suppliers, refiners and other parties with whom the
Company does business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards, employee relations; relationships with and
claims by local communities and indigenous populations; political risk; risks
related to natural disasters, terrorism, civil unrest, public health concerns
(including health epidemics or outbreaks of communicable diseases such as the
coronavirus (COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral exploration and
development, including the risks of obtaining or maintaining necessary
licenses and permits, diminishing quantities or grades of mineral reserves as
mining occurs; global financial condition, the actual results of current
exploration activities, changes to conclusions of economic evaluations, and
changes in project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs, environmental, safety
or regulatory risks, expropriation, the CompanyÕs title to properties
including ownership thereof, increased competition in the mining industry for
properties, equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production rate
increase and currency fluctuations.  Security holders, potential security
holders and other prospective investors are cautioned not to place undue
reliance on forward-looking information.  By its nature, forward-looking
information involves numerous assumptions, inherent risks and uncertainties,
both general and specific, that contribute to the possibility that the
predictions, forecasts, projections and various future events will not
occur.  Caledonia undertakes no obligation to update publicly or otherwise
revise any forward-looking information whether as a result of new information,
future events or other such factors which affect this information, except as
required by law.

 

This news release is not an offer of the shares of Caledonia for sale in the
United States or elsewhere. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy, nor shall there be any sale of
the shares of Caledonia, in any province, state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such province, state or
jurisdiction.

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCPKQBQABKDQQD