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Caledonia Reports Higher Profit, Record Gold Output In 2017

Kitco News

Caledonia Mining Corp. Plc. (NYSE American, AIM: CMCL; TSX: CAL), whose primary asset is 49% ownership in the Blanket Mine in Zimbabwe, reports an increased profit in 2017 on record gold output. For the fourth quarter, output rose to 16,425 ounces from 13,591 in the same period of 2016. Steve Curtis, chief executive officer, says that “production for the year was a new record, [with] the 56,133 ounces of gold produced in 2017 being 11.5% higher than in 2016. The production difficulties which we encountered in the first half of the year were identified and addressed, and it was pleasing to see that these remedial measures resulted in Blanket achieving consecutive production records in the third and fourth quarters of the year.” The net profit for the fourth quarter was $3.2 million, compared to $3.3 million in the year-ago period. Full-year 2017 net income rose to $9.4 million from $8.5 million. Curtis says Calednonia is aiming for 80,000 ounces of output from the Blanket Mine by 2021.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Gran Colombia: Feb. Output Totals 17,339 Gold Ounces

Wednesday March 21, 2018 09:14

Gran Colombia Gold Corp. (TSX: GCM) reports February output of 17,339 gold ounces, bringing the total for the first two months of 2018 to 34,039 ounces. Gran Colombia’s full-year 2017 output was 173,821 ounces, an average of 14,486 a month. The February output included 15,248 ounces at the high-grade Segovia operations, plus 2,091 from the Marmato Mine.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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