Caledonia Mining Corporation Plc Blanket Mine Q1 2025 Production
Caledonia Mining (NYSE AMERICAN, AIM and VFEX: CMCL) reports record Q1 2025 gold production at its Blanket Mine. Production reached 18,671 ounces, surpassing both Q1 2024's 17,050 ounces and the previous Q1 record of 18,515 ounces set in 2022.
The mine processed 201,755 tonnes during the quarter, exceeding expectations by 13.4%. Surface stockpile increased significantly to approximately 15,000 tonnes as run-of-mine production surpasses milling capacity. Blanket remains on track to achieve its 2025 gold production guidance of 74,000-78,000 ounces.
Caledonia Mining (NYSE AMERICAN, AIM e VFEX: CMCL) annuncia una produzione record di oro nel primo trimestre 2025 presso la sua miniera Blanket. La produzione ha raggiunto 18.671 once, superando sia le 17.050 once del primo trimestre 2024 sia il precedente record trimestrale di 18.515 once stabilito nel 2022.
Durante il trimestre, la miniera ha trattato 201.755 tonnellate, superando le aspettative del 13,4%. Le scorte di superficie sono aumentate significativamente, arrivando a circa 15.000 tonnellate, poiché la produzione grezza ha superato la capacità di macinazione. Blanket resta in linea per raggiungere la sua previsione di produzione d'oro per il 2025, compresa tra 74.000 e 78.000 once.
Caledonia Mining (NYSE AMERICAN, AIM y VFEX: CMCL) reporta una producción récord de oro en el primer trimestre de 2025 en su mina Blanket. La producción alcanzó 18,671 onzas, superando tanto las 17,050 onzas del primer trimestre de 2024 como el récord previo de 18,515 onzas establecido en 2022.
La mina procesó 201,755 toneladas durante el trimestre, excediendo las expectativas en un 13.4%. El stock de superficie aumentó significativamente hasta aproximadamente 15,000 toneladas, ya que la producción en bruto supera la capacidad de molienda. Blanket sigue en camino de cumplir su guía de producción de oro para 2025, que es de 74,000 a 78,000 onzas.
Caledonia Mining (NYSE AMERICAN, AIM 및 VFEX: CMCL)는 블랭킷 광산에서 2025년 1분기 금 생산량이 사상 최고치를 기록했다고 보고했습니다. 생산량은 18,671 온스에 달해 2024년 1분기의 17,050 온스와 2022년에 세운 이전 1분기 기록인 18,515 온스를 모두 넘어섰습니다.
광산은 분기 동안 201,755 톤을 처리했으며, 예상치를 13.4% 초과했습니다. 원광 생산량이 제련 용량을 초과함에 따라 표면 재고가 약 15,000 톤으로 크게 증가했습니다. 블랭킷 광산은 2025년 금 생산 목표인 74,000~78,000 온스 달성을 순조롭게 진행 중입니다.
Caledonia Mining (NYSE AMERICAN, AIM et VFEX : CMCL) annonce une production d’or record au premier trimestre 2025 dans sa mine Blanket. La production a atteint 18 671 onces, dépassant à la fois les 17 050 onces du premier trimestre 2024 et le précédent record trimestriel de 18 515 onces établi en 2022.
La mine a traité 201 755 tonnes au cours du trimestre, dépassant les attentes de 13,4 %. Le stock de surface a augmenté de manière significative pour atteindre environ 15 000 tonnes, la production brute dépassant la capacité de broyage. Blanket reste en bonne voie pour atteindre ses prévisions de production d’or pour 2025, comprises entre 74 000 et 78 000 onces.
Caledonia Mining (NYSE AMERICAN, AIM und VFEX: CMCL) meldet eine Rekord-Goldproduktion im ersten Quartal 2025 in seiner Blanket-Mine. Die Produktion erreichte 18.671 Unzen und übertraf damit sowohl die 17.050 Unzen im ersten Quartal 2024 als auch den bisherigen Rekord von 18.515 Unzen aus dem Jahr 2022.
Die Mine verarbeitete im Quartal 201.755 Tonnen und übertraf die Erwartungen um 13,4 %. Der Lagerbestand an der Oberfläche stieg deutlich auf etwa 15.000 Tonnen, da die Rohproduktion die Mahlkapazität übersteigt. Blanket liegt weiterhin im Plan, um die Goldproduktionsprognose für 2025 von 74.000 bis 78.000 Unzen zu erreichen.
- Record Q1 gold production of 18,671 ounces, up from 17,050 ounces in Q1 2024
- Milling exceeded expectations by 13.4% with 201,755 tonnes processed
- Growing surface stockpile of 15,000 tonnes indicates strong mining performance
- On track to meet 2025 production guidance of 74,000-78,000 ounces
- Milling capacity constraints causing stockpile buildup
Insights
Caledonia's record Q1 production of 18,671 ounces represents a significant operational achievement, exceeding prior-year output by
Particularly noteworthy is the substantial increase in surface stockpile to approximately 15,000 tonnes, indicating mining capacity now exceeds milling throughput. This inventory buffer provides operational flexibility and derisks future quarterly production targets by allowing consistent mill feed despite potential underground mining fluctuations.
The strong Q1 performance creates favorable momentum toward achieving the company's annual guidance of 74,000-78,000 ounces. With approximately
Continued operational improvements mentioned by the CEO suggest the company has successfully addressed previous underground mining constraints at Blanket, with the growing stockpile serving as tangible evidence of enhanced mining rates. This excess production capacity provides a foundation for sustained performance improvements throughout 2025.
Caledonia's production outperformance directly strengthens its financial position, especially with the CEO's reference to "strong gold price" enhancing cash flow generation. The
This production strength creates a dual financial benefit: increased gold sales volume coupled with higher realized gold prices. With spot gold recently trading near historical highs, the timing of this production increase is particularly advantageous for margin expansion and accelerated cash flow generation.
The CEO's statement regarding being "well positioned to generate healthy cash flows and to continue investing in our growth projects" suggests management intends to balance shareholder returns with reinvestment. The reference to continued investment indicates confidence in both near-term operational performance and longer-term expansion opportunities.
The growing stockpile represents embedded value not yet realized on the balance sheet, effectively serving as inventory that can be monetized in subsequent quarters. This production buffer increases financial visibility and reduces cash flow volatility risk for the remainder of 2025.
For a company with Caledonia's market capitalization (
Record Q1 gold production sets strong foundation for 2025
ST HELIER, Jersey, April 15, 2025 (GLOBE NEWSWIRE) -- Caledonia Mining Corporation Plc ("Caledonia" or "the Company") (NYSE AMERICAN, AIM and VFEX: CMCL) 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 – 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) 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 Camilla Horsfall | Tel: +44 1534 679 800 Tel: +44 7817 841 793 |
| Cavendish Capital Markets Limited (Nomad and Joint Broker) Adrian Hadden Pearl Kellie | Tel: +44 207 397 1965 Tel: +44 131 220 9775 |
| Panmure Liberum (Joint Broker) Scott Mathieson/ Ailsa MacMaster | Tel: +44 20 3100 2000 |
| Camarco, Financial PR (UK) Gordon Poole Julia Tilley Elfie Kent | Tel: +44 20 3757 4980 |
| 3PPB (Financial PR, North America) Patrick Chidley Paul Durham | Tel: +1 917 991 7701 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 (“MAR”) 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 “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: 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 Caledonia’s 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 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. 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.
FAQ
What was Caledonia Mining's (CMCL) gold production in Q1 2025?
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