Zimbabwe-focused Caledonia Mining (LSE: CMCL) will finalize a feasibility study for its Bilboes gold project early next year, CEO Mark Learmonth said in an interview.
The project, acquired in early 2023 after seven years of pursuit, could produce up to 1.5 million oz. of gold over 10 years, with peak output reaching 150,000 ounces.
“Our goal is straightforward—maximize (net present value) per share and drive the share price higher,” Learmonth said last month during the Gold Forum Americas in Colorado Springs. “Bilboes will transform us from a single-asset operator into a multi-asset producer.”
Caledonia expects to fund most of the US$309-million project through development finance institutions, supplemented with some equity funding, having already raised more capital in Zimbabwe than in other markets, Learmonth said.
While addressing operational challenges in Zimbabwe, Learmonth dismissed concerns about the business climate. “The workforce is educated and motivated, and unions are cooperative, not militant,” he said.
Watch the full interview below with The Northern Miner’s western editor, Henry Lazenby.
Be the first to comment on "Video: Caledonia Mining targets 2025 Bilboes feasibility to chart growth course, exec says"