Caledonia Mining Corporation Plc: Results for the Quarter ended June 30, 2025

Core Viewpoint - Caledonia Mining Corporation reported strong financial and operational results for Q2 2025, driven by record gold production and higher gold prices, leading to significant increases in profitability and cash generation [1][4][9]. Financial Highlights - Gold revenue reached $65.0 million, a 30% increase from $50.1 million in Q2 2024 [6]. - Gross profit rose to $33.8 million, up 48% from $22.9 million in Q2 2024 [6]. - EBITDA was $39.5 million, including a one-off profit of $8.5 million from the sale of a solar plant, representing a 94% increase from $20.4 million in Q2 2024 [6]. - Net profit attributable to shareholders was $20.5 million, more than doubling from $8.3 million in Q2 2024, with adjusted EPS increasing to 113.9 cents from 44.6 cents [10]. - Net cash from operating activities was $28.1 million, a 47% increase from $19.1 million in Q2 2024 [6]. - A dividend of 14 cents per share was declared [6]. Operational Highlights - Blanket Mine produced 21,070 ounces of gold, a 1.4% increase from 20,773 ounces in Q2 2024 [18]. - Production guidance for Blanket Mine for 2025 was increased to 75,500 - 79,500 ounces [18]. - On-mine cost per ounce increased by 10.9% to $1,123, while all-in sustaining cost (AISC) rose to $1,805 per ounce, a 21.5% increase [11][12]. - The average realized gold price was $3,188 per ounce, up 38.5% from $2,302 in Q2 2024 [6]. Cash Generation and Investments - Operating cash inflows for the half year ended June 30, 2025, were $41.3 million, supported by higher production and favorable gold prices [13]. - The sale of the solar plant generated $22.35 million, enhancing the cash position [13]. - The company invested $17.7 million in property, plant, and equipment, and $3.1 million in exploration and evaluation activities during the half year [14]. Exploration and Future Projects - Ongoing drilling at Blanket Mine has shown encouraging results, with grades and widths better than previous campaigns [7][21]. - The feasibility study for the Bilboes project is progressing, with a focus on enhancing project economics [8][23]. - A $2.8 million exploration program is underway at Motapa, targeting both sulphide and oxide resources [24]. Leadership and Reporting Changes - Mr. Johan Holtzhausen retired from the Board, and Ms. Tariro Gadzikwa was appointed as chair of the Audit Committee [26]. - The company will no longer publish quarterly financial statements, aligning with Canadian securities regulations [28][29].