**Summary of Caledonia Mining Corporation Plcs 3rd Quarter 2025 Results**
Caledonia Mining Corporation Plc reported strong financial and operational results for the third quarter of 2025, driven by higher gold prices and increased sales. Key highlights include
1. **Financial Performance**
**Revenue**Increased by 52% to $71.4 million compared to Q3 2024, due to a 40% rise in the average realized gold price and an 8.7% increase in ounces sold.
**Gross Profit**Rose to $36.9 million, up from $19.3 million in Q3 2024.
**EBITDA**Surged by 162% to $33.5 million.
**Profit After Tax**Jumped 467% to $18.7 million.
**Free Cash Flow**Turned positive at $5.9 million, compared to a negative $2.4 million in Q3 2024.
2. **Operational Highlights**
**Gold Production**19,106 ounces from the Blanket Mine, with an additional 437 ounces from the Bilboes oxide mine.
**Gold Sales**20,355 ounces from Blanket, with 2,861 ounces of bullion on hand sold at the start of Q4.
**On-Mine Cost**$1,228/oz sold, with an all-in sustaining cost (AISC) of $1,937/oz sold.
**Ore Production**Increased tonnes broken and hoisted, with 229.5 thousand tonnes and 208.7 thousand tonnes, respectively.
3. **Safety and Sustainability**
Reported a fatality at Blanket Mine due to a secondary blasting accident, leading to a comprehensive review of safety procedures and training.
Group Lost Time Injury Frequency Rate (LTIFR) and Total Injury Frequency Rate (TIFR) showed slight increases, with ongoing efforts to improve safety.
4. **Exploration and Development**
Continued deep exploration drilling at Blanket, targeting down-dip continuations of mineralized zones, with encouraging results.
Surface trenching at Blanket identified anomalous gold values, leading to a 5,000-metre reverse circulation drilling program.
Motapa project exploration progressed, with 17,787 metres of reverse circulation drilling and 1,763.4 metres of diamond drilling completed.
5. **Capital Expenditure and Liquidity**
Total liquidity stood at $44.3 million, supporting ongoing capital projects.
Sustaining capital expenditure totaled $5.174 million, with non-sustaining capex at $1.585 million.
Completion of the new tailings storage facility (TSF) and ongoing mine development to access new areas.
6. **Corporate Developments**
Appointed Mr. July Ndlovu as an independent non-executive director.
Approved a quarterly dividend of 14 cents per share, payable on December 5, 2025.
Bilboes feasibility study expected to be released imminently.
7. **Guidance**
Maintained 2025 gold production guidance at 75,500 to 79,500 ounces.
Revised on-mine cost guidance to $1,150 to $1,250/oz sold and AISC to $1,850 to $1,950/oz sold, reflecting higher costs and royalties.
**CEO Commentary**
Mark Learmonth, CEO, emphasized the companys focus on stable production, disciplined capital investment, and modernization of operations at Blanket. Despite the tragic fatality, the company remains committed to safety and long-term growth, with strategic investments to strengthen its foundations.
**Conclusion**
Caledonia Mining Corporation Plc demonstrated robust performance in Q3 2025, with significant improvements in revenue, profitability, and cash flow, supported by strong gold prices and operational efficiency. The company continues to invest in exploration and development to sustain long-term growth while addressing safety concerns.