Caledonia Mining Corporation Plc: Results for the Quarter ended March 31, 2025

Core Viewpoint - Caledonia Mining Corporation reported strong Q1 2025 results, driven by increased gold production and higher gold prices, demonstrating operational resilience and strategic growth potential [2][5][11]. Financial Highlights - Revenue for Q1 2025 was $56.2 million, a 46% increase from $38.5 million in Q1 2024, attributed to higher sales and a 42% rise in average realized gold price to $2,896 per ounce [8][11]. - Gross profit nearly doubled to $26.9 million, resulting in a gross margin of 48% compared to 36% in Q1 2024 [11]. - Net profit attributable to shareholders surged to $8.9 million, a 493% increase from $1.5 million in Q1 2024, with adjusted EPS rising to 58.5 cents from 9.7 cents [8][12]. Operational Highlights - Gold production reached 19,106 ounces, a 9.3% increase from 17,476 ounces in Q1 2024, with Blanket Mine producing 18,671 ounces [8][15]. - The on-mine cost per ounce increased by 12.9% to $1,202, while the all-in sustaining cost (AISC) rose to $1,797 per ounce, reflecting higher production costs [13][8]. - Continued progress on the Bilboes feasibility study and a $2.8 million exploration program launched at Motapa [8][17]. Cash Flow and Financial Position - Net cash from operating activities more than doubled to $13.3 million, improving the net cash position to negative $4.6 million from negative $14.2 million in Q1 2024 [14][8]. - Following the solar plant sale, the pro forma net cash position improved to $18.6 million, enhancing financial flexibility for growth initiatives [6][14]. Strategic Focus - The company is focused on maximizing profitable production at Blanket, optimizing the Bilboes project economics, and unlocking exploration potential at Motapa [6][19]. - Capital expenditure for 2025 is forecasted at $41.0 million, fully funded from existing cash reserves and operating cash flow [20].