Caledonia Mining (CMCL) has released an update.
Caledonia Mining Corporation Plc reported a strong first quarter in 2024, with gross profit soaring to $13.8 million compared to $5.8 million in the same period last year, attributed to increased gold revenue and reduced production costs. The company maintained its gold production guidance and cost estimates for 2024, while also sharing promising results from its exploration programme indicating potential extensions of the mine life. Despite these positive developments, the company faced a considerable foreign exchange loss and an increase in all-in sustaining costs, which are projected to be higher throughout the year.
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