Caledonia Mining Lowers 2026 Gold Production Guidance to 69,000–72,500 Ounces Following Q3 Decline - Yahoo Finance UK

AI desk brief

Caledonia Mining cut 2026 gold production guidance to 69,000–72,500 oz after Q3 output at Blanket Mine fell to 17,030 oz from 19,106 oz a year earlier, citing compressed air shortages and gravity circuit commissioning issues. The company said about 1,100 oz of gold remains temporarily trapped in the plant, with measures including extra compressors and added elution capacity aimed at improving Q4 output and stabilizing operations into 2027.

Cost guidance moved higher alongside the weaker production profile: on-mine costs are now expected at US$1,700–US$1,900/oz and AISC at US$2,650–US$2,850/oz. Caledonia also trimmed 2026 capex to US$94.3 million by deferring parts of the 132kV power line and reducing spend at Blanket and Bilboes, while saying internal cash flow should still fund Bilboes development.