Caledonia Mining CEO discusses cost-cutting and growth; progress at Bilboes and Motapa [Video]

Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) chief executive Mark Learmonth takes Proactive’s Stephen Gunnion through the company’s progress in the third quarter and future plans.

Learmonth highlighted that while the production remained on track, operational costs at Blanket Mine were high, driven by electricity and labour. The company is working to cut these costs significantly in the coming quarters.

Learmonth discussed exploration at the Motapa Gold Project, sharing that the results were encouraging, with notable drill intersections reaching up to 11g per ton. The company is also focused on a feasibility study for the Bilboes sulfide project, expected by early next year, and considering funding combinations involving debt and equity.

Additionally, Learmonth explained the strategic decision to sell Blanket’s solar plant for $22 million, emphasising capital efficiency for future investments.

Caledonia’s goals include reducing costs, finalising feasibility studies, and maintaining exploration momentum to extend its development pipeline.