Caledonia raises production guidance after bumper Blanket quarter

(Sharecast News) - Caledonia Mining raised its full-year gold production guidance on Wednesday, following a record second-quarter performance at its Blanket Mine in Zimbabwe. The AIM-traded firm said the mine produced 21,070 ounces of gold in the three months ended 30 June, surpassing the 20,773 ounces delivered in the same period last year and setting a new second-quarter record.

First-half output rose 5.1% year-on-year to 39,741 ounces, prompting the company to increase its 2025 production guidance to between 75,500 and 79,500 ounces.

"Production in the first half of 2025 was excellent and has exceeded our expectations," said chief executive officer Mark Learmonth.

"As a result of this strong performance, we are increasing our annual production guidance.

"This performance is a testament to the dedication and hard work of our team."

Learmonth added that Blanket Mine "continues to provide a solid foundation for growth" and remained central to the company's long-term value strategy.

At 1201 BST, shares in Caledonia Mining Corporation were up 0.33% at 1,530p.

Reporting by Josh White for Sharecast.com.