Higher gold prices and output fuel Caledonia Mining’s massive Q1 profit surge

📅 Published: August 18, 2025

📰 Source: nehandaradio

Curated by AllZimNews.com

Gold revenue for the quarter reached US$56. 2 million, a 46% increase year-over-year (US$38. 5 million in Q1 2024).

Gross profit nearly doubled to US$26. 9 million (Q1 2024: US$13. 8 million), resulting in a higher gross margin of 48% (Q1 2024: 36%).

Profitability also saw significant gains, with net profit attributable to shareholders increasing almost sixfold to US$8. 9 million (Q1 2024: US$1. 5 million).

Adjusted earnings per share (EPS) rose sharply to 58. 5 cents, up from 9. 7 cents in the first quarter of 2024.

Caledonia’s financial position strengthened during the quarter.

Net cash from operating activities more than doubled to US$13. 3 million (Q1 2024: US$4. 9 million), and the net cash position improved to negative US$4. 6 million from a negative US$14. 2 million at the end of Q1 2024.

The company further bolstered its cash reserves with the US$22. 35 million sale of its solar plant in April 2025, resulting in a pro forma net cash position of US$18. 6 million.

Operationally, Blanket Mine produced 18,671 ounces of gold, a 9. 5% increase from the previous year.

The Bilboes oxide mine contributed 435 ounces (Q1 2024: 426 ounces).

Caledonia continues to advance its Bilboes project feasibility study, focusing on optimizing its economics.

The company also launched a US$2. 8 million exploration program at its Motapa project following encouraging drilling results in 2024.

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