Caledonia Mining targets production recovery at Blanket as Bilboes project advances - ICYMI - Proactive financial news

AI desk brief

Caledonia’s Blanket mine produced approximately 17,000 ounces in Q3 2026, below expectations, before rebounding to just under 7,000 ounces in October. CEO Mark Learmonth attributed the recovery to operational improvements and recovery of over half the 1,100 ounces trapped in processing inventory; October therefore included previously held gold. A US$150 million, three-year bridge facility supports Bilboes equipment procurement while longer-term project financing is assessed. Learmonth expects stronger Blanket production in 2027; commercial oxide mining depends on successful heap-leach testing, with environmental approval secured. These developments mainly affect Caledonia; a material near-term bullion impact is not established.