SMM1, 14 / PRNewswire-FirstCall-Asianet /-Blanket yellow gold mine in (Caledonia), Caledonian, recorded record quarterly production from its Blanket gold mine in Zimbabwe due to improved reliability of energy supply and strict attention to gold grade due to improved energy supply reliability and strict attention to gold grade.
Caledonia reported gold production of 16876 ounces in the fourth quarter, an increase of 24 per cent over the previous quarter. The total annual output is 55182oz. it is beyond the guidance of the company's 50000-53000oz.
Caledonian CEO Steve Curtis (Steve Curtis) said in a statement: "the improvement in power supply and vigilance over grade control and production tonnage have enabled us to achieve excellent production performance in the last quarter, and our entire operations staff can be proud of this."
Curtis (Curtis) said the strong operating momentum established by the company at the end of 2019 continued into the new year
The company is expected to complete work at the Blanket gold mine in July, which will increase production from about 55000 ounces a year in 2020 to 75000 ounces in 2021 and 80000 ounces in 2022.
Caledonian announced a 9.1 per cent dividend increase on January 3, while Mr Curtis said on Monday that "the expected improvement in free cash flow will enable the board to properly review future dividend distributions".
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