Caledonia gross profit jumps 16pct

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Caledonia’s outgoing chief executive Steve Curtis.

CALEDONIA Mining Corporation, operators of Gwanda based gold producer, Blanket Mine, has reported gross revenue of US$21 million in 2021 from the $100 million realised in 2020.

Gross profit for the year was at US$54 million compared to$US47 million 2020.

“Production in the year was 67 476 ounces, which was above the top end of the guidance range and was a new record for annual production. The robust operating performance was supported by good cost control…Cash generated from operations before working capital increased by 17 percent from $42,4 million to $49,6 million,” Caledonia’s outgoing chief executive Steve Curtis said.

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