Caledonia Mining Corporation Plc (NYSE:CMCL) announces Blanket Mine gold production for the quarter ended March 31, 2026.
This morning’s news release indicated quarterly gold production of 14,767 ounces, compared with 18,671 ounces produced in the first quarter of 2025.
A lower quarter was anticipated reflecting mining sequence and anticipated access constraints to higher grade, higher volume areas. Production during the Quarter was also impacted by equipment availability issues and challenging ground conditions.
A new mine shift system in process of being implemented which will increase mine production from six to seven days per week.
Appointment of a contractor to accelerate access to higher grade ore sources.
Increase in milling capacity following the commissioning of an additional ball mill in the second quarter of 2026.
Caledonia remains comfortable with Blanket's full year production guidance of 72,000 to 76,500 ounces, with Blanket's gold production expected to be weighted towards the second half of the year as stated in its announcement of March 23, containing the abridged, preliminary and unaudited quarterly and full year results for 2025, as the initiatives outlined above take effect.
CEO Mark Learmonth: "Gold production in Q1 2026 was below our expectations, reflecting the lower grades mined during the Quarter; however, this is consistent with our guidance of production being weighted towards the second half of the year.”
CMCL shares ended trading Friday at $26.19.
