Caledonia Mining Q2 2026 profit rises as higher gold price offsets lower ounces sold, company says
Reuters2026/08/10 10:07- Caledonia posted Q2 2026 net profit attributable to shareholders of USD 23.81 million, lifted by higher realized gold prices and derivative fair-value gains.
- Revenue rose to USD 75.91 million as the average realized gold price increased to USD 4,259/oz, offsetting a 13.1% drop in consolidated ounces sold to 17,811.
- Production fell as Blanket output dropped 17.6% to 17,360 oz on lower grade and recovery, reflecting planned sequencing and limited access to higher-grade areas.
- Costs rose sharply, with on-mine cost at USD 1,675/oz and AISC at USD 2,678/oz, driven by employee benefits tied to BETS dividends, higher royalties, advisory fees.
- Cash and cash equivalents climbed to USD 167.77 million, mainly from USD 150 million Convertible Senior Notes issued in Q1 2026 to fund Bilboes.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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