Record Gross Profit
Caledonia Mining reported a gross profit of $26.9 million for Q1 2025, marking a 95% increase and setting a new quarterly record.
Increased Gold Production and Sales
The company produced and sold 19,000 ounces of gold, up from 17,500 ounces in the comparable quarter, reflecting a 9% increase.
Significant Revenue Growth
Gold revenue for the quarter increased by 46% to $56 million, driven by a higher realized gold price of just under $2,900 per ounce, up 42%.
Improved Cash Position
The company improved its net cash position to a negative $4.6 million from a negative $14.2 million in the previous period. Following the Solar Plant sale, the pro forma net cash position improved to $18.6 million.
Operational Efficiency and Safety Improvements
Operational changes led to record production and improved safety metrics with accidents dropping from five in January to one in March.