FIRMER gold prices helped Caledonia lift third-quarter earnings by 37%, offsetting rising costs and lower production from Blanket Mine over the period.
Gross profit in the three months to September came in at US$19.3 million, up from $14.1 million in the third quarter of 2023 due to the higher gold price and lower costs of the Bilboes oxide mine. However, gross profit was lower than the second quarter’s US$23 million.
Quarterly revenue was US$46.9 million, while the company made US$135.5 million in revenue in the nine months to September.