Caledonia Mining Corporation Plc has reported a stellar performance for the third quarter of 2025, with profits and revenues soaring on the back of high gold prices and improved production at its Blanket Mine in Zimbabwe.
Revenue for the quarter jumped 52.4% to US$71.4 million, compared to US$46.9 million in Q3 2024. Gross profit more than doubled to US$36.8 million, while profit after tax surged 468% to US$18.7 million, up from US$3.3 million a year earlier.
Basic earnings per share climbed 492% to US$0.77, reflecting the company’s robust profitability.
Chief Executive Officer Mark Learmonth described the performance as “solid operational and financial results,” noting that “the strong gold price and higher production contributed to a 52% increase in quarterly revenue and a significant uplift in free cash flow.”
Caledonia’s financial position also strengthened, with total assets rising to US$393.3 million from US$348.4 million at the end of 2024, and equity increasing to US$276.5 million.
The miner recorded a sharp improvement in free cash flow, moving to US$5.9 million from a negative US$2.4 million in Q3 2024. Operating cash inflows reached US$13.7 million, up from US$4.6 million.
Related Stories
In line with its consistent shareholder return strategy, the Board approved a 14-cent dividend per share, reinforcing confidence in the company’s financial health.
“The Board has approved a quarterly dividend of 14 cents per share, reinforcing its confidence in the company’s financial health and future prospects,” the report stated.
However, the strong quarter was overshadowed by a tragic loss at the Blanket Mine. Learmonth said management “expressed deep regret over an employee fatality” and had “initiated a comprehensive review of safety procedures” to strengthen workplace safety.
Looking forward, the company has maintained its 2025 gold production guidance at 75,500–79,500 ounces, but revised its All-In Sustaining Cost to US$1,850–US$1,950 per ounce. The revision reflects “higher on-mine costs, administration expenses, and increased royalties linked to the higher gold price,” according to management.
Despite the upbeat results, Caledonia cautioned that cost pressures and ore grade variability remain key operational challenges.
“On-mine costs per ounce sold increased by 16.3% and AISC rose by 29.0% year-on-year. Managing these inflationary pressures is crucial for maintaining profitability,” the report noted.
As of November 13, 2025, Caledonia’s share price remained steady at US$3,300.00 on the Victoria Falls Stock Exchange.
Leave Comments