Caledonia Mining sees FY24 gold production 74,000-78,000 ounces

Sees Fy24 capital expenditures $34.4M, which includes planned exploration at Motapa and further work on the Bilboes feasibility. The company said, “Anticipated group capital expenditure of $34.4m includes approximately $20m of sustaining investment (which is included in all-in sustaining cost guidance) and $14.4m of expansion expenditure, which includes investment in a new tailings storage facility with a life of approximately 12 years and further underground development. Expansion expenditure also includes $2m on preliminary exploration at Motapa and $3.5m on further work on the Bilboes feasibility studies. On-mine costs are expected to be consistent with costs incurred in 2023. Caledonia continues to work on the feasibility studies in respect of the Bilboes sulphide project to determine the optimal implementation strategy for the project. This work includes updating the existing feasibility study for a project producing approximately 170,000oz of gold per annum and work on an alternative phased approach to the project.”