Caledonia Mining NYSEAMERICAN: CMCL said second-quarter production increased 18% from the first quarter as the company regained access to higher-grade mining areas at its Blanket Mine and implemented operating changes intended to lift output.
Caledonia Mining Corporation Plc (CMCL) Q2 2026 Earnings Call Transcript
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) maintained its 2026 production target for the Blanket gold mine after output rebounded 18% quarter-on-quarter in the second quarter, though the company raised its cost guidance. Blanket produced 17,360 ounces during the quarter as average feed grades improved to 2.9 grams per tonne from 2.5g/t in Q1.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has told investors that surface drilling at its Blanket mine in Zimbabwe has uncovered a previously unrecognised gold zone that could support a lower-cost heap leach operation alongside the existing underground mine. The K-Pits target contains both near-surface oxide material and deeper sulphide mineralisation.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) has maintained its 2026 production guidance after gold output from Zimbabwe's Blanket Mine rose 18% quarter on quarter to 17,360 ounces. The improvement from 14,767 ounces in the first quarter reflected better access to higher-grade mining areas.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) CEO Mark Learmonth joined Proactive this week to discuss the latest high-grade drilling results from the Motapa gold project, highlighting progress towards a maiden mineral resource estimate expected later this year. In this interview, Learmonth outlines the project's exploration success, potential synergies with the neighbouring Bilboes development, and key milestones investors should watch in the coming months.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) told investors that high-grade drilling at Motapa in Zimbabwe has strengthened the case for the exploration property to become a strategic extension of its Bilboes gold project. The company said 2025 work confirmed gold mineralisation across multiple zones, including continuity along around 6km of strike within the Bubi Greenstone Belt and multiple mineralised shear zones at Motapa North, Central and South.
Caledonia Mining now presents a clearer upside, driven by improved cash generation and a more credible Bilboes project following its feasibility study. FY2025 results highlighted strong operating leverage to gold prices, with $62.1 million free cash flow, but Q1 2026 exposed operational and cost volatility. Bilboes could transform CMCL's scale, targeting 200,000 oz/year at $1,061/oz AISC, yet requires $484 million peak funding, introducing significant execution and dilution risks.
Caledonia Mining NYSEAMERICAN: CMCL reported a weaker production quarter at its Blanket Mine in Zimbabwe, but management said higher gold prices helped lift revenue, earnings and cash generation while remediation efforts are beginning to improve mine performance.
Caledonia Mining Corporation Plc (CMCL) Q1 2026 Earnings Call Transcript
Shares in Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) rose 2.3% to 1,800p on Monday as investors weighed a first-quarter update in which record gold prices delivered strong financial results. Revenue rose 18.3% year-on-year to $66.43 million, EBITDA jumped 50.2% to $33.87 million and profit after tax climbed 69.4% to $18.91 million, all driven by an average realised gold price of $4,816 per ounce, up 66.3% on the same period last year.
Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL), the Zimbabwe-focused gold producer, lifted EBITDA by 50.2% to $33.87 million in the first quarter of 2026 as a surging gold price more than compensated for lower output at its Blanket mine. Revenue rose 18.3% to $66.43 million against the same period last year, while profit after tax jumped 69.4% to $18.91 million and free cash flow more than doubled to $12.28 million from $4.86 million.