| Caledonia Mining Corporation: Q2 2015 Production Update | |
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TORONTO, ONTARIO--(Marketwired - Jul 6, 2015) - Caledonia Mining Corporation (CAL.TO)(CALVF)(CMCL.L)("Caledonia") announces gold production from its 49 per cent owned subsidiary, the Blanket Mine ("Blanket") in Zimbabwe for the quarter ended June 30, 2015 ("Q2 2015" or the "Quarter"). All numbers are expressed on a 100 per cent basis. - Gold production in the first six months of 2015 remains on track to achieve target production for 2015 of 42,000 ounces
- 10,424 ounces of gold were produced during Q2 2015, representing a 4.7 per cent increase on the gold produced in Q1 2015 (9,960 ounces) and a 7.1 per cent decrease on the gold produced in Q2 2014 (11,223 ounces). Production in the Quarter is based on mine assays and is subject to adjustment following third party assays.
Commenting on the production for Q2 2015, Steve Curtis, Caledonia's Chief Executive Officer said: "The increased production reflects the improved management control over grade and tonnage. It is anticipated that production will increase somewhat in the second half of 2015 following completion of the tramming loop on 22 Level in June. The completed tramming loop will increase the underground haulage capacity and allow for an increase in development activity, which is expected to result in an increase in future production. "Sinking of the no 6 Winze has been completed and work has commenced on equipping the completed shaft prior to the start of horizontal development toward the ore bodies. The start of initial production from the No. 6 Winze remains on target for January 2016. "The pre-sink at Central Shaft has commenced and the shaft collar is being concreted after which shaft sinking can resume. "We are confident that the revised investment plan, which was announced on November 3, 2014, will result in progressive increases in production from 2016 onwards when we expect to see the first production from below 750 meters - initially from the No. 6 Winze and subsequently from the Central shaft" |
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Caledonia Mining Corporation
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PRODUCER |
CODE : CAL.TO |
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CUSIP : 12932K |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Caledonia Mining is a gold producing company based in Canada. Caledonia Mining holds various exploration projects in Zambia. Its main asset in production is BLANKET in Zimbabwe and its main exploration properties are ROOIPOORT in South Africa and NAMA in Zambia. Caledonia Mining is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is CA$ 1.2 billions as of today (US$ 888.8 millions, € 795.3 millions). Its stock quote reached its lowest recent point on December 24, 2008 at CA$ 0.23, and its highest recent level on June 19, 2020 at CA$ 22.87. Caledonia Mining has 52 790 000 shares outstanding. |