Caledonia Mining Makes it Big with Surged Gold Production, High Gold Prices Seems Favorable
In a recent development, mining specialist Caledonia Mining Corporation has announced an accumulative spike of about 24% since October last year. The most recent surge stands at a value of 7.5cents as per the present quarterly growth.
The quarterly dividend of the company in the month of January stood at roughly 6.875 cents. As evident from the present numbers, the company’s overall growth has been quite robust and has also stood the testing times of pandemic.
The overall gold production of Caledonia Mining is well within the range of roughly 55,000 ounces, quite compliant with the annual target of 80.000 ounces in accordance with the objective of 80,000 ounces of gold production annually.
Despite deplorable business generation across industries owing to lingering physical distancing protocols that seemed to have a drastic toll on productivity as a whole, Caledonia Mining is bent the odds in its favor on the back of prominent advantages such as consistent production output, soaring prices of gold and operational efficiency that collectively have rendered decent business and favorable revenue pools.
In a recent statement, Caledonia Mining CEO, Steve Curtis has rightly affirmed that the company has continued to deliver even amidst crucially unfavorable working conditions and has also posed a spike of 13% in the company’s dividend. Adding further he said consistently high gold prices is attributed to have maneuvered optimistic dividend outcome through both the quarters of year 2020.
Caledonia has also declared its gold production in Zimbabwe which stands at 14,233 ounces in the first quarter this year. The value has certainly risen from last year around the same time when production stood at 11,948 ounces.
However, the same fate may not be witnessed for other relevant mining veterans such as Eurasia Mining PLC which has lately affirmed its concrete decision of sell out, appointing USB as the formal sales manager.