and Maurice Mason, VP Corporate Development & Investor Relations at Caledonia Mining, as they discuss the Q3 results of their company in the Tip TV Studio. Joined by Beth Payne – Head of Communications at Tip TV, and John Meyer, Partner and Head of Research at SP Angel.
“It was a nice quarter in terms of profitability and cash generation”, says Curtis as he details their Q3 performance. He highlights that the company achieved its target of 42,000 ounces of Gold this quarter, and all looks positive considering the yearly target at 50,000. Curtis further adds that Q3 was much better than the previous quarter.
On the one off costs in this quarter, Curtis lists why Caledonia Mining had to put out market guidance, noting the share based payment expense, and professional fees for acquisition related tasks to be the major costs which led to them put forward an announcement.
On the grade control, Mason highlights that the grade keeps improving as they continue to drill deeper.
Caledonia mining saw a bottom in cash balance towards March this year, and it is now in an increasing trend, says Mason.
With cash in hand, increased spending on development, and rising Gold prices favouring them at present, Curtis says that they are setting up for a much longer-term project in Zimbabwe.