Caledonia Mining Boosts Profit Amid Strategic Initiatives

Caledonia Mining (CMCL) has released an update.

Caledonia Mining Corporation reported a boost in quarterly gross profit to $19.3 million, driven by higher gold prices and lower costs at the Bilboes oxide mine, despite facing increased production costs and a decline in gold output. The company maintained its annual gold production target and announced a conditional sale of its solar plant, aiming to enhance its growth and reduce costs. Caledonia is focusing on strategic initiatives, including feasibility studies for the Bilboes project and exploration activities at Motapa, to strengthen its position in the market.

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