Caledonia Mining Corp PLC - Jersey, UK-based gold producer with operations in Zimbabwe - Revenue in the quarter to June 30 rises 35% to $50.1 million from $37.0 million a year prior due to higher gold production and a higher gold price. Pretax profit multiplies to $15.5 million from $1.5 million. Basic earnings per share are $0.43 compared with losses per share of $0.01. Profit receives boost from 7.7% drop in all-in sustaining cost to $1,253 per ounce from $1,357 per ounce before. This reflects lower on-mine cost per ounce offset by higher sustaining capital expenditure and increased administrative expenses. Declares dividend of US 14 cents for the quarter, unchanged from the first quarter.
Chief Executive Mark Learmonth says: ‘This has been an excellent quarter, during which profitability benefitted from higher gold production, a higher gold price and lower costs per ounce. With today’s results, we remain on track to achieve our production and cost guidance for the year.’
Current stock price: 866.80 pence
12-month change: up 3.2%
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