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Caledonia trims guidance due to shaft work

Zimbabwe-focused gold miner Caledonia Mining (CN: CAL) has been trying to balance a production ramp-up at its Blanket mine with ongoing development work to access an orebody beneath the mine. But the company has decided that long-term output wins the day, and is cutting its 2017 guidance to make sure the development work gets done.

Cameron French
Under wraps ... Caledonia has lowered FY17 production guidance for the Blanket mine to 52,000-57,000oz

Under wraps ... Caledonia has lowered FY17 production guidance for the Blanket mine to 52,000-57,000oz

Caledonia now expects to produce 52,000-57,000 ounces of gold this year, down from its previous guidance of 60,000oz. Earnings per share should also be lower, to a range of US24-31c from 34c, assuming...

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