Caledonia Mining Corporation Plc (CMCL.L) Announced, in its 2018 production update and 2019 production guidance, that approximately 14,952 ounces of gold were produced during the quarter ended December 31, 2018 (the "Quarter"), 7% higher than the previous quarter ("Q3 2018"). Total gold production for the year to December 31, 2018 was approximately 54,512 ounces, which is in line with 2018 production guidance which was a range of 54,000 to 56,000 ounces.
The company advises investors that gold production for 2019 is expected to be between 53,000 and 56,000 ounces.
The company remains on track to achieve production of approximately 80,000 ounces of gold per annum from 2021 following completion of the Central Shaft.
The Central Shaft is currently at a depth of 1,150 meters and will be sunk to a depth of 1,204 meters.
It is anticipated that shaft sinking will be completed towards the middle of 2019 after which the shaft will be equipped and commissioned.
Also, the company expects to release its results for the year to December 31, 2018 on or about March 20, 2019.