Not to forget ex. so many - so much gold, platinum and diamonds, colored diamonds $smile) - great mines and ming properties i South Africa ex. Caledonia Mining under growing pressure to sell Eersteling Gold Mines - 1st Gold Mine with smelteres. in SA - goes back to 1871 etc. - many gold mining companies would love to get a peace of this shallow large mines with 6 shafts, past smelter property to re-commission etc. -
Caledonia Mining Corporation Plc Q2 2018 Production Update (NYSE AMERICAN:CMCL) (AIM:CMCL) (TSX:CAL) ST HELIER, Jersey, July 12, 2018 (GLOBE NEWSWIRE) --
Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) announces quarterly gold production from the Blanket Mine (“Blanket”) in Zimbabwe for the quarter ended June 30, 2018 (“Q2 2018” or the “Quarter”). All production numbers are expressed on a 100 per cent basis and are based on mine production data and are therefore subject to adjustment following final assay at the refiners.
Approximately 12,657 ounces of gold were produced during the Quarter, 2% below production in the first quarter of 2018 and 1% above production in the second quarter of 2017. Gold produced for the first half of 2018 was 25,582 ounces, marginally ahead of the 25,316 ounces produced in the first half of 2017. Production remains in line with expectations for 2018 and Caledonia maintains its 2018 production guidance of 55,000 ounces to 59,000 ounces for the full year. Blanket remains on track with progress towards its long-term target of 80,000 ounces by 2021.
Commenting on the production for Q2 2018, Steve Curtis, Chief Executive Officer, said:
“Production of 12,657 ounces in the second quarter of 2018 is consistent with the level achieved in the corresponding quarter of 2017 and the first quarter of 2018. Grade during the quarter was below our expectation although grade has reverted to budgeted levels in the recent weeks. The lower grade was partly a result of normal variations in the ore body and partly a one-off consequence of some modified mining practices which were adopted to improve safety. Blanket remains on track to deliver its full year guidance of 55,000 to 59,000 ounces in 2018.
“The sinking of the central shaft remains according to plan and within budget, with the shaft currently at a depth of 1,073 meters; sinking is currently paused due to the process of cutting stations for horizontal development on 30 level. The project continues to progress well and we look forward to commencing production from the central shaft in 2020 which is expected to deliver the Company’s growth plan to achieve 80,000 ounces by 2021.”
About Caledonia Mining
Caledonia’s primary asset is a 49% interest in an operating gold mine in Zimbabwe (“Blanket Mine”). Caledonia’s shares are listed on NYSE American (symbol: CMCL) and on the Toronto Stock Exchange (symbol: CAL) and depositary interests representing the shares are traded on London’s AIM (symbol: CMCL).
As at March 31, 2018, Caledonia had cash of approximately US$13.4m. Blanket Mine plans to increase production from 56,136 ounces of gold in 2017 to approximately 80,000 ounces by 2021; Blanket Mine’s target production for 2018 is 55,000 to 59,000 ounces. Caledonia expects to publish its results for the quarter to June 30, 2018 on or about August 13, 2018.
Caledonia Mining Corporation Plc Mark Learmonth Maurice Mason
Blytheweigh Tim Blythe/Camilla Horsfall/Megan Ray Tel: +44 207 138 3204 Note: This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation.
Cautionary Note Concerning Forward-Looking Information
Caledonia Mining Corporation Plc Results for the Quarter ended 30 June 2018 St Helier, 9 August 2018 –
Caledonia Mining Corporation Plc (“Caledonia” or the “Company”) announces its operating and financial results for the second quarter of 2018 (“Q2” or the “Quarter”).
Gold production in the Quarter was 12,657 ounces, marginally higher than the first quarter of 2018 and in-line with expectations. Adjusted earnings per share (“EPS”) of 35.2 cents were 86% higher than the corresponding amount in 2017, largely due to an increased export credit incentive and higher deferred tax adjustments.
Cash generated by operating activities for the Quarter was lower than in previous periods due to substantial working capital movements.
The Zaruma Project is located in the central to north-central part of the Portovelo-Zaruma gold mining district in southern Ecuador, in which the total historic gold production from high grade quartz vein systems was estimated to be approximately 4 to 5 million ounces.
The hills of Zaruma and Portovelo have been mined for gold and silver for centuries. The Incas had been extracting gold and silver from the area with hydraulic mining of the oxidized parts of veins when Mercadillo, one of Pizarro´s force, followed the Rio Amarillo River upstream and encountered the Inca mine and founded the town of Zaruma in 1549.
Core Gold Inc. (TSX-V:CGLD)(OTCQX:CGLDF) RE: Core Gold to Present at the 2019 Vancouver Resource Investment Convention -
So here's what a shareholder seen has been done over the past two and a half years:
- Restart the mill, improve the operation, and get it ready for expansion -
- build a new tailings pond, the old one was overflowing -
- make a deal with Green OIl -
- develop Dynasty GF into what appears to be a good source of material
- make a possibly significant discovery, by trenching, at Copper Duke and do a prelim. drilling -
- come out of receivership, and it sounds like this is bigger than maybe was thought as it held up so much
- establish a very good relationship with the gov't, the envy of other companies
- do some community work , and seemingly establishing a good relationship -
- pay off most of the old debt ,which seems to have been substantial
- raise a bunch of money, and for sure it would have been better if done at a better price -
- get drill permits for Copper Duke -
- removed the risk of insolvency
- hired a bunch of pretty impressive people
- not gotten into any JVs, mergers, etc. that were bad for long time shareholders
I am sure others could add more. I guess the big thing that hasn't happened is share price appreciation. And, yes, this is a big disappointment. But in retrospect we were premature in hoping 2018 would be the year. But 2019 ?
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CEO INTERVIEW, DYNASTY GOLDFIELD OPEN PIT MINE, PORTOVELO PLANT OVERVIEW TRITURATION, PORTOVELO TANKS -
The Company is a Canadian based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The Company is currently focused on gold production at its wholly-owned Dynasty Goldfield project and continued development at its Zaruma mine. Mineral is treated at the Company’s wholly-owned Portovelo treatment plant close to the Zaruma mine operations. The Company also owns other significant gold exploration projects including the Copper Duke area in southern Ecuador all of which are on the main Peruvian Andean gold-copper belt extending into Ecuador.
For further information please contact:
Keith Piggott, CEO Suite 1201 – 1166 Alberni Street Vancouver, B.C.V6E 3Z3 Phone: +1 (604) 345-4822 Email: info@coregoldinc.com
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