Slide 1: Q1 2024 Results Presentation
Q1 2024 Results Presentation
Slide 2: Disclaimer and forward-looking statements
Disclaimer and forward-looking statements THIS PRESENTATION DOES NOT CONSTITUTE, OR FORM PART OF, ANY OFFER TO SELL OR ISSUE OR ANY SOLICITATION OF ANY OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SHARES IN CALEDONIA MINING CORPORATION PLC (“CALEDONIA”), NOR SHALL IT (OR ANY PART OF IT) OR THE FACT OF IT
Slide 3: Overview
Overview . • Improved safety performance • Strong start to 2024: increased production, supported by a favourable gold price. • 17,476 ounces of gold produced in the Quarter (Q1 2023: 16,141 ounces); 78 production days due to early cut-off due to Easter (Q1 2023: 86 days). • 2024 production guidance
Slide 4: Results
Results Summary 3 months ended March 31 Q1 Q1 Change (%) 2024 2023 Safety incidents 8 12 -33% Production (ounces) 17,476 16,141 8% Average gold price ($ per ounce)1 2,040 1,863 10% Production days 78 86 -9% Revenue ($’m) 38,528 29,435 31% Gross Profit ($’m) 2 13,815 5,850 136% Net profit attributabl
Slide 5: Operations - Blanket
Review of Operations - Blanket Tonnes Milled & Grade (2012 – Q1 2024) in Ounces Produced & Recovery (2012 – Q1 2024) NYSE/AIM: CMCL 5
Slide 6: Quarter 1 financial performance 2022 - 2024
Quarter 1 financial performance 2022 - 2024 Q1 Q1 Q1 2022 2023 2024 Sales ounces 18,959 15,797 18,876 Average gold price ($ per ounce) 1,848 1,863 2,040 On-mine cost per ounce - Blanket (C1) 698 991 993 AISC per ounce - Blanket (C2) 968 1,209 1,267 Gross Profit ($’m) 16.9 5.8 13.8 Earnings (loss)
Slide 7: Review of Results: Profit or loss for Quarter
Review of Results Profit or loss for Quarter 1 Blanket Bilboes oxide Other1 Consolidated Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Change ($’m) 2024 2023 2024 2023 2024 2023 2024 2023 (%) 20% more ounces sold; 9% increase in the average Revenue 37.7 29.3 0.8 0.2 - - 38.5 29.5 30.5% realised gold price. 78 production
Slide 8: Review of Results: Profit or loss for Quarter (Continued)
Review of Results Profit or loss for Quarter 1 (Continued) Blanket Bilboes oxide Other1 Consolidated ($’m) Q1 Q1 Q1 Q1 Q1 Q1 Q1 Q1 Change 2024 2023 2024 2023 2024 2023 2024 2023 (%) Gross profit 13.3 8.9 - (3.1) 0.5 0.1 13.8 5.9 133.9% FX losses of $4.1m due to the devaluation of RTGS$. RTGS$ was di
Slide 9: Production costs per ounce sold
Review of Results Production costs per ounce sold Q1 Q1 ($’m) Change (%) 2024 2023 Blanket 993 991 0% Wages and salaries 360 362 -1% Consumables 323 336 -4% Electricity 239 216 11% On-mine administration & Other 71 77 -8% Bilboes oxides 1,820 31,857 -94% Wages and salaries 660 8,571 -92% Consumables
Slide 10: Production cost per ounce
Review of Results Production cost per ounce • Guidance maintained at an on-mine cost of $870-$970 per ounce and an AISC of $1,370 - $1,470 per ounce for the full year. • On-mine cost per ounce decreased due to Bilboes oxide placed on care and maintenance in Sept 2023. • AISC per ounce decreased due
Slide 11: Administrative expenses
Review of Results Administrative expenses ($’000's) Q1 Q1 Change (%) 2024 2023 Investor relations 135 163 -17.2% Audit fee 79 69 14.5% $3.1m decrease vs comparable quarter due to Advisory service fees 244 3,427 -92.9% the once off Bilboes acquisition advisory fees incurred in the comparative quarter
Slide 12: Cash
Review of Results Cash Cash generated from operations before working capital changes Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 ($’000) 2022 2022 2022 2022 2023 2023 2023 2023 2024 Operating cashflow 13,470 13,499 13,731 7,099 51 4,865 16,303 297 10,508 • Cash generated from operations before working capital change
Slide 13: Outlook
Outlook • Maintain production at Blanket Mine at the target range of 74,000 - 78,000 ounces for 2024 and at a similar level for 2025. • Development options well advanced for Bilboes, with a view to optimising capital allocation and maximising the uplift in value for Caledonia shareholders. Prelimina
Slide 14: Contacts
Contacts WEBSITE: www.caledoniamining.com NORTH AMERICA IR: 3PPB LLC Patrick Chidley Paul Durham TWITTER: @CaledoniaMining Tel: +1 917 991 7701 Tel: +1 203 940 2538 SHARE CODES: NYSE American / AIM / VFEX – CMCL AIM BROKER/NOMAD: CAVENDISH CAPITAL MARKETS Adrian Hadden | Tel: +44 207 220 1751 Email:
Slide 15: Thank You
Thank You 15