Caledonia Mining Corporation Plc (NYSE AMERICAN, AIM & VFEX:
CMCL) ("Caledonia" or the "Company") announces quarterly and annual
gold production from the Blanket Mine in Zimbabwe ("Blanket") for
the quarter ended 31 December 2021 ("Q4 2021" or the "Quarter").
All production numbers are expressed on a 100 per cent basis and
are based on the final assay at the refiners.
Highlights
- Achieved more than 2,4 million fatality free shifts since
2018
- Record total gold production during 2021 was 67,476 ounces,
exceeding the Company's revised increased guidance and a 17 per
cent increase on 2020 annual production
- Quarterly production of 18,604 ounces of gold; a 24 per cent
increase on the 15,012 ounces in Q4 2020
- Gold production for 2022 is expected to be between 73,000 to
80,000 ounces
Commenting on the announcement, Steve
Curtis, Chief Executive Officer, said:
“This has been an outstanding performance and a
tremendous team effort. I would like to thank all our employees for
their hard work in achieving this result and that we were able to
exceed our revised annual production guidance.
“The commissioning of the Central Shaft, record
gold production, along with a continued commitment to safety, all
in one year, is an outstanding achievement and testament to the
quality of the Caledonia technical team.
"Now that the Central Shaft is complete, the
Company will also focus on other areas of its growth strategy, as
we continue to evaluate investment opportunities, with a vision of
becoming a multi asset gold producer.”
Enquiries:
Caledonia Mining Corporation PlcMark
LearmonthCamilla Horsfall |
Tel: +44 1534 679 802Tel: +44
7817 841793 |
|
|
WH IrelandAdrian
Hadden/ Andrew De Andrade |
Tel: +44 20 7220 1751 |
|
|
Blytheweigh Financial
PRTim Blythe/Megan Ray |
Tel: +44 207 138 3204 |
|
|
3PPBPatrick
ChidleyPaul Durham |
Tel: +1 917 991 7701Tel: +1 203
940 2538 |
|
|
Curate Public Relations
(Zimbabwe)Debra Tatenda |
Tel: +263 772802131 |
1 Refer to the technical report entitled
“Caledonia Mining Corporation Plc NI 43-101 Technical Report on the
Blanket Gold Mine, Zimbabwe” dated May 17, 2021 prepared by Minxcon
(Pty) Ltd and filed by the Company on SEDAR on May 26, 2021. Mr
Dana Roets (B Eng (Min.), MBA, Pr.Eng., FSAIMM, AMMSA), Chief
Operating Officer, is the Company's qualified person as defined by
Canada's National Instrument 43-101 and has approved any scientific
or technical information contained in this news release.
Note: This announcement contains inside information
which is disclosed in accordance with the Market Abuse Regulation
(EU) No. 596/2014
(“MAR”)
as it forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 and is disclosed in accordance
with the Company's obligations under Article 17 of
MAR.
Cautionary Note Concerning
Forward-Looking InformationInformation and statements
contained in this news release that are not historical facts are
“forward-looking information” within the meaning of applicable
securities legislation that involve risks and uncertainties
relating, but not limited, to Caledonia’s current expectations,
intentions, plans, and beliefs. Forward-looking information can
often be identified by forward-looking words such as “anticipate”,
“believe”, “expect”, “goal”, “plan”, “target”, “intend”,
“estimate”, “could”, “should”, “may” and “will” or the negative of
these terms or similar words suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions
or statements about future events or performance. Examples of
forward-looking information in this news release include:
production guidance, estimates of future/targeted production rates,
and our plans and timing regarding further exploration and drilling
and development. This forward-looking information is based, in
part, on assumptions and factors that may change or prove to be
incorrect, thus causing actual results, performance or achievements
to be materially different from those expressed or implied by
forward-looking information. Such factors and assumptions include,
but are not limited to: failure to establish estimated resources
and reserves, the grade and recovery of ore which is mined varying
from estimates, success of future exploration and drilling
programs, reliability of drilling, sampling and assay data,
assumptions regarding the representativeness of mineralization
being inaccurate, success of planned metallurgical test-work,
capital and operating costs varying significantly from estimates,
delays in obtaining or failures to obtain required governmental,
environmental or other project approvals, inflation, changes in
exchange rates, fluctuations in commodity prices, delays in the
development of projects and other factors.
Security holders, potential security holders and
other prospective investors should be aware that these statements
are subject to known and unknown risks, uncertainties and other
factors that could cause actual results to differ materially from
those suggested by the forward-looking statements. Such factors
include, but are not limited to: risks relating to estimates of
mineral reserves and mineral resources proving to be inaccurate,
fluctuations in gold price, risks and hazards associated with the
business of mineral exploration, development and mining, risks
relating to the credit worthiness or financial condition of
suppliers, refiners and other parties with whom the Company does
business; inadequate insurance, or inability to obtain insurance,
to cover these risks and hazards, employee relations; relationships
with and claims by local communities and indigenous populations;
political risk; risks related to natural disasters, terrorism,
civil unrest, public health concerns (including health epidemics or
outbreaks of communicable diseases such as the coronavirus
(COVID-19)); availability and increasing costs associated with
mining inputs and labour; the speculative nature of mineral
exploration and development, including the risks of obtaining or
maintaining necessary licenses and permits, diminishing quantities
or grades of mineral reserves as mining occurs; global financial
condition, the actual results of current exploration activities,
changes to conclusions of economic evaluations, and changes in
project parameters to deal with unanticipated economic or other
factors, risks of increased capital and operating costs,
environmental, safety or regulatory risks, expropriation, the
Company’s title to properties including ownership thereof,
increased competition in the mining industry for properties,
equipment, qualified personnel and their costs, risks relating to
the uncertainty of timing of events including targeted production
rate increase and currency fluctuations. Security holders,
potential security holders and other prospective investors are
cautioned not to place undue reliance on forward-looking
information. By its nature, forward-looking information involves
numerous assumptions, inherent risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, projections and various future events will
not occur. Caledonia undertakes no obligation to update publicly or
otherwise revise any forward-looking information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
This news release is not an offer of the shares
of Caledonia for sale in the United States or elsewhere. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy, nor shall there be any sale of the shares of
Caledonia, in any province, state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of such province, state
or jurisdiction.
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