Caledonia Mining Corporation Plc has announced its financial and operating results for the first quarter ended March 31, 2026, showcasing a strong performance driven by a higher gold price.
The company’s revenue increased by 18.3% to US$66.43 million, compared to US$56.18 million in Q1 2025, primarily due to a significantly higher average realized gold price of US$4,816 per ounce. Gold production at Blanket Mine was 14,767 ounces, with consolidated gold sales of 13,784 ounces.
Despite lower production, the company’s gross profit rose 19.2% to US$32.10 million, and EBITDA increased 50.2% to US$33.87 million. Net cash generated from operating activities grew 41.5% to US$18.87 million.
Caledonia’s Chief Executive Officer, Mark Learmonth, commented, “The financial performance in the Quarter benefited from a higher gold price, which offset the impact of lower production… We remain confident in our strategy and ability to deliver long-term value for shareholders. Production during the Quarter was adversely affected primarily by constrained access to higher-grade areas”.
The company has also announced a quarterly dividend of 14 cents per share, payable on June 5, 2026. Caledonia continues to progress with the Bilboes Gold Project, with funding plans advancing and discussions with lenders ongoing.
Caledonia’s strong performance and strategic progress position the company for long-term growth and value creation, aligning with Zimbabwe’s National Development Strategy 2 (NDS2) objectives.
