REG - Caledonia Mining Crp - Q2 2014 Production Update & Revised 2014 Guidance <Origin Href="QuoteRef">CAL.TO</Origin>

Caledonia MiningAnnouncement

06/09/2014 16:32

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RNS Number : 2566M
Caledonia Mining Corporation
15 July 2014 
 
Caledonia Mining Corporation 
 
(TSX: CAL, OTCQX: CALVF, AIM: CMCL) 
 
Q2 2014 Production Update and Revised 2014 Guidance 
 
July 15 2014:  Caledonia Mining Corporation ("Caledonia") announces gold
production from its 49 per cent owned subsidiary, the Blanket Mine ("Blanket")
in Zimbabwe, for the quarter ended June 30, 2014. All production numbers are
expressed on a 100 per cent basis and are based on the final assays from the
refiner. 
 
·     11,223 ounces of gold were produced during Q2 2014 (11,587 ounces in Q2
2013), representing a 9.6 per cent increase on the gold produced in Q1 2014
(10,241 ounces). 
 
·     As advised in the Q1 Management Discussion and Analysis, the average
head grade is now expected to be lower than has been achieved in previous
quarters.  Tonnes mined and milled in Q2 did not increase sufficiently to
offset the lower grade mined, although plant recoveries have remained strong. 
 
·     In light of the 21,464 ounces produced during the first six months of
2014, guidance for gold production in 2014 is reduced from 48,000 ounces to
approximately 45,000 ounces. 
 
 Caledonia Mining CorporationMark LearmonthTel: +27 11 447 2499 marklearmonth@caledoniamining.com  Numis John Prior/Jamie Loughborough/ James BlackTel: +44 20 7260 1000  
                                                                                                                                                                          
 BlytheweighTim Blythe/Halimah Hussain/Camilla Horsfall Tel: +44 20 7138 3204                      WH IrelandAdrian Hadden/Nick FieldTel: +44 20 7220 1751                
                                                                                                                                                                          
                                                                                                                                                                          
                                                                                                                                                                            
 
 
Cautionary Note Concerning Forward-Looking Information 
 
Information and statements contained in this news release that are not
historical facts are "forward-looking information" within the meaning of
applicable securities legislation that involve risks and uncertainties
relating, but not limited to Caledonia's current expectations, intentions,
plans, and beliefs.  Forward-looking information can often be identified by
forward-looking words such as "anticipate", "believe", "expect", "goal",
"plan", "target", "intend", "estimate", "could", "should", "may" and "will" 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: production guidance, estimates of
future/targeted production rates, and our plans and timing regarding further
exploration and drilling and development.  This forward-looking information 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:
failure to establish estimated resources and reserves, the grade and recovery
of ore which is mined varying from estimates, success of future exploration
and drilling programs, reliability of drilling, sampling and assay data,
assumptions regarding the representativeness of mineralization being
inaccurate, success of planned metallurgical test-work, capital and operating
costs varying significantly from estimates, delays in obtaining or failures to
obtain required governmental, environmental or other project approvals,
inflation, changes in exchange rates, fluctuations in commodity prices, delays
in the development of projects and other factors. 
 
Potential shareholders and 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; 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
Company's 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. 
Shareholders 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 information is provided by RNS
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