Caledonia Mining (LON:CMCL) - Hitting high grade
Aug 14th 2012 - Edison Investment Research today published a report on Caledonia Mining (CMCL.L, LSE:CMCL, LON:CMCL) entitled "Hitting High Grade". In summary, the report says:
Caledonia has released impressive Q212 operational results. In Q212 the Blanket Gold Mine produced a 26% increase in gold to 11,560ozs (vs 9,164ozs in Q112) at cash costs of US$547/oz (vs US$648/oz in Q112), translating to a gross profit of US$10.067m (at an average realised gold price of US$1,599/oz). Net cash flow from operations also saw a marked increase of 91.2%, from US$7.346m to US$11.195m (before capex). Gold production July 2012 was approximately 4,700ozs (already 40.7% of the Q212 total). Caledonia had cash at end June 2012 of US$18.323m.
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