Caledonia Mining: Free cash flow triples as gold price offsets weaker grades

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL, VFEX:CMCL) CEO Mark Learmonth tells Proactive's Stephen Gunnion that a tough first quarter on production was more than rescued by the gold price, with EBITDA up 50% and free cash flow tripling to over $12 million despite output coming in at 14,700 ounces on weaker grades. Learmonth is confident the second half will be stronger: "We expected the first half to be weaker than the second half." Initiatives underway at Blanket Mine include faster underground development, better access to higher-grade zones and a move to a seven-day working schedule. Deep-level drilling is also delivering, with grades and widths beating expectations. At Bilboes, engineering work is progressing well, with long-lead equipment orders expected in Q3 and construction activity before year-end. The cautionary note concerning forward-looking information in the announcement applies to the content of this video. Please see the announcement here: https://polaris.brighterir.com/public/caledonia_mining/news/rns_tool/story/x2z3jmx For more videos from Proactive, visit the channel, like this video, subscribe and enable notifications so you never miss future updates. #CaledoniaMining #MarkLearmonth #GoldMining #BlanketMine #Bilboes #MiningStocks #GoldPrice #ZimbabweMining #ResourceStocks #MiningNews #GoldExploration #PreciousMetals #InvestorNews #MiningIndustry #ProactiveInvestors