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Caledonia Mining on target to meet guidance despite lower-than-expected Q1 output

By BFN News | 08:13 AM | Monday 19 April, 2021


Mining company Caledonia Mining reported that gold production fell short of its expectations in the first quarter, but said it remained on track to meet its annual output target. 'Production in the first quarter of 2021 was slightly below our target and below the comparable quarter in 2020 albeit at a level which allows us to maintain our 2021 production guidance of 61,000 to 67,000 ounces for the full year,' the company said. The rainy season this year saw unprecedented rainfall causing flooding at the mine and resulted in several lost shifts during the quarter. 'These temporary issues have now been rectified and with the Central Shaft now operational we remain on track to hit our 80,000 ounce target in 2022,' it added. At 8:13am: (LON:CMCL) Caledonia Mining Corp share price was 0p at 1280p Story provided by StockMarketWire.com

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