Caledonia’s first quarter gold output surges

By Alois Vinga

AIM-listed Caledonia Mining Corporation (CMC) has recorded a significant increase in gold output during the first quarter of the year 2025.

A quarterly gold production report shows that output reached 18,671 ounces, exceeding 17,050 ounces produced in the first quarter of 2024 (“Q1 2024”). The new first quarter production record surpassed the previous high of 18,515 ounces set in the first quarter of 2022.

Tonnes milled for the quarter were 201,755 tonnes, 23,793 tonnes (13.4%) above expectation. The surface stockpile increased significantly to approximately 15,000 tonnes as run-of-mine production exceeded milling capacity.

Commenting on the results, Mark Learmonth, Chief Executive Officer, expressed delight over the positive performance.

“I’m delighted to report that production in Q1 2025 has set a new record for production in a first quarter at Blanket, with over 18,500 ounces produced – a particularly strong performance given that the first quarter is traditionally our weakest.

“This achievement reflects continued operational improvements and the dedication of our team on the ground. The significant increase in both tonnes milled and the surface stockpile provide a strong foundation for the remainder of the year.

“The performance was an excellent start and with a strong gold price we are well positioned to generate healthy cash flows and to continue investing in our growth projects,” he added.