Caledonia Mining profit soars 244 percent on record gold
Jersey-domiciled Caledonia Mining Corporation reported profit after tax reaching 53.41 million dollars for the nine months through late September, representing a 243.8 percent increase driven by record precious metal valuations. Gold prices climbed 47.23 percent to 3,863.10 dollars per ounce while production advanced 3.6 percent to 58,846 ounces, generating revenue growth of 42.4 percent to 192.92 million dollars. The company expects to deliver 2.5 tonnes toward the national output, exceeding 40 tonnes.
Free cash flow surged 394.8 percent to 48.32 million dollars, accommodating capital expenditure of 22.56 million dollars. Chief executive Mark Learmonth highlighted solid operational results at Blanket Mine, which produced 19,106 ounces during the third quarter. The miner maintained annual production guidance between 75,500 and 79,500 ounces while revising all-in sustaining cost projections to 1,850 through 1,950 dollars per ounce.
