Caledonia Mining's stock fell 14% due to higher costs at Zimbabwe's Blanket Mine, affecting near-term earnings.
Caledonia Mining stock fell over 14% after the company warned of higher costs at its Zimbabwe gold mine, Blanket Mine, affecting near-term earnings. Higher operating costs, increased power costs, and staff termination expenses contributed to the decline in profits. Despite the setback, CEO Mark Learmonth remains optimistic about the company's future, as many of these costs are not expected to recur in 2024.
March 04, 2024
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