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CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI)

Caledonia On Track for Increased Gold Output

Commenting on the production for the third quarter of 2016 and on the installation of the new mill, Steve Curtis, Caledonia’s chief executive officer said there were higher grade ores produced during the review period.

“Production in the third quarter was in line with expectations, and shows that Caledonia and Blanket Mine remain on track to deliver our target performance for 2016,” said Curtis.

“Production in the quarter includes production from higher grade material below 750 metres which is accessed via the No. 6 Winze and an additional decline development. This is further testament to the investments Caledonia has made to increase production flexibility and capacity over the past 18 months, which are now beginning to bear fruit as production from below 750 metres continue to increase.

“We are also pleased that the new mill, which was manufactured locally in Zimbabwe, has been installed and the commissioning process is progressing as expected as it is an important step in increasing our production to 80 000 ounces over the next four years,” the Caledonia boss said.

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