Chronicle Editor
Oliver Kazunga, Senior Business Reporter
CALEDONIA Mining Corporation says its local gold mining unit, Blanket Mine, has “slightly” missed its first quarter production target after producing 13 197 ounces but remains on track to achieve the 2021 projection of between 61 000 and 67 000oz.
In a trading update for the quarter ended 31 March 2021, Caledonia said traditionally its first quarter gold output has generally been lower, but tends to increase in subsequent quarters.
“A total of 13 197oz of gold were produced during the quarter.
“Caledonia remains on track to hit its production guidance of between 61 000–67 000oz for the full year,” it said.
Commenting on the announcement, Caledonia chief executive officer, Mr Steve Curtis said:
“Production in the first quarter of 2021 was slightly below our target and below the comparable quarter in 2020 albeit at a level, which allows us to maintain our 2021 production guidance of 61 000 to 67 000oz for the full year.
“Gold production has often been lower in the first quarter of each year and increases in the following quarters.”
Mr Curtis said the rainy season this year saw unprecedented rainfall causing flooding at the mine and this resulted in several lost shifts during the period.
-@okazunga
Online Reporter