WH Ireland Analyst said this morning: “Caledonia today announces its Q2/H1 results which show the company is well on track to achieve its targets in 2016. Gold production for the Blanket mine in Zimbabwe for H1 2016A showed a 3koz increase on the same point last year at 23.3koz (against our full year estimate of 50.4koz for 2016). The increase in production over the fixed cost base led to a reduction in cash costs at the mine to $658/oz (from $718/oz in H1 2015A) and the lower capital spending led to a reduction in AISC to $943/oz ($1,007/oz). Increased production and a higher received gold price led to an increase in profit and an EPS for the half year of 8.6c (excluding the sale of $3.2m – gross – Zimbabwean treasury bills in May). Importantly the cash position at Caledonia is now, once again, increasing after rising $3.2m during H1 2016A with net cash now standing at $10.6m. Caledonia is delivering on its production and financial performance.”
![CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI)](https://directorstalk.net/wp-content/uploads/2016/04/Caledonia-Mining-Corporation-Plc.jpg)
Precious metals rally as U.S. dollar extends losses
Gold prices climbed more than 1% to their highest levels in a week on Tuesday and other precious metals also rallied on the back of a sliding dollar, as markets remained focused on the Federal Reserve’s