Caledonia Mining Q2 2026 profit rises as higher gold price offsets lower ounces sold, company says
CMCL•Costs increase sharply
Costs rose sharply, with on-mine cost at USD 1,675/oz and AISC at USD 2,678/oz, driven by employee benefits tied to BETS dividends, higher royalties, and advisory fees.
Cash balance increases after note issuance
Cash and cash equivalents climbed to USD 167.77 million, mainly from USD 150 million Convertible Senior Notes issued in Q1 2026 to fund Bilboes.
Production falls as Blanket output declines
Production fell as Blanket output dropped 17.6% to 17,360 oz on lower grade and recovery, reflecting planned sequencing and limited access to higher-grade areas.
Q2 profit and revenue rise on stronger gold prices
Caledonia Mining posted Q2 2026 net profit attributable to shareholders of USD 23.81 million, lifted by higher realized gold prices and derivative fair-value gains.
Revenue rose to USD 75.91 million as the average realized gold price increased to USD 4,259/oz, offsetting a 13.1% drop in consolidated ounces sold to .
