Caledonia Mining Corporation Plc announced its operating and financial results for the first quarter ended March 31, 2025, reporting a 46% increase in revenue to $56.2 million, up from $38.5 million in Q1 2024. Gross profit nearly doubled to $26.9 million, resulting in a gross margin of 48%.
Net profit attributable to shareholders surged by 500% to $8.9 million, compared to $1.5 million in Q1 2024, with adjusted EPS rising to 58.5 cents from 9.7 cents. Net cash from operating activities more than doubled to $13.3 million, significantly improving the net cash position to negative $4.6 million, and a pro forma net cash of $18.6 million after the solar plant sale.
Gold production from Blanket Mine increased by 9.5% to 18,671 ounces, contributing to a total of 19,106 ounces including Bilboes oxide mine. The company reaffirmed its 2025 production guidance of 74,000 to 78,000 ounces and its cost guidance, with all $41.0 million in capital expenditure fully funded internally. Comprehensive safety improvements and board/management strengthening were also highlighted.
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