Caledonia Mining (NYSEAMERICAN:CMCL) reported a weaker production quarter at its Blanket Mine in Zimbabwe, but management said higher gold prices helped lift revenue, earnings and cash generation while remediation efforts are beginning to improve mine performance.
During the company’s first-quarter 2026 results presentation, Chief Executive Officer Mark Learmonth said gold production from Blanket totaled about 14,700 ounces, with the shortfall “entirely due” to lower grades mined during the period. Despite the production challenge, Learmonth said financial performance remained “robust” because of the stronger gold price environment.
