Caledonia Mining Q2 net profit rises 16% to $23.8 million as gold prices climb
Caledonia Mining reported second-quarter net profit of $23.8 million, up 16% from a year earlier, helped by higher gold prices. The company said it realised an average gold price of $4,259 an ounce, up 34% year on year. Output at its Blanket mine fell to 17,360 ounces. Caledonia maintained its quarterly dividend at $0.14 per share and said due diligence is well advanced for an additional $300 million of project financing after it raised $150 million for the Bilboes project via a convertible bond.