The following is a summary of the Caledonia Mining Corporation Plc (CMCL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Caledonia Mining reported Q1 2024 production of just under 17,500 ounces, up from just over 16,000 ounces in Q1 2023.

• Revenue increased from $30 million to $38.5 million, primarily due to higher average gold prices for the quarter.

• Gross profit rose significantly from less than $6 million to nearly $14 million.

• The company reported a profit of $2 million in Q1 2024, compared to a loss of $5 million in the same period last year.

• However, a substantial foreign exchange loss of about $4.1 million was reported.

Business Progress:

• The company reaffirmed its annual production guidance of 74,000-78,000 ounces.

• James Mufara was appointed as the new Chief Operating Officer effective from May 1st.

• Caledonia Mining announced promising exploration results earlier in the year and is currently working on a revised mineral resource statement to increase the mine's life.

• The company maintained its quarterly dividend payment of $0.14 per share.

• An update on the commercialization of the large-scale sulfide project at Bilboes is expected in about two weeks.

More details: Caledonia Mining IR

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