CALEDONIA Mining Corporation’s topline grew 35 percent to US$50,1 million in the second quarter to June 30, 2024 from US$37 million comparable period prior year largely driven by firmer gold prices.
International gold prices increased by around 23 percent year-on-year in July this year to US$ 2 386 per ounce (oz) from an average of US$1 930/oz in the same period last year.
Prices have been driven by a multitude of factors including heightened geopolitical risks and uncertainty in the global economy- prompting hedging tendencies in gold among investors.