Caledonia Mining Corporation Plc: Blanket Mine Underground Measured and Indicated Mineral Resources Estimate Increases by 22% to 2.18 Million Ounces and Declaration of a Surface Mineral Resource Estim

Caledonia Mining (CMCL) shares rose 4% after Cavendish reaffirmed its 'buy' rating, citing a 500,000-ounce resource at Motapa and a 22% resource increase at Blanket mine. Cavendish expects Bilboes development to quadruple annual production to 200,000 ounces, potentially attracting institutional investors. Caledonia aims to secure a $150 million funding facility and surface mining approvals.

Caledonia Mining Corporation announced a maiden mineral resource estimate for its Motapa property in Zimbabwe, with 379,000 oz measured and indicated, and 131,000 oz inferred. The estimate, compliant with NI 43-101, follows $7.084M in exploration and an $8.25M acquisition cost. CEO Mark Learmonth highlighted the strategic value and potential synergies with the adjacent Bilboes Gold Project, expected to start production in late 2028.

Caledonia Mining (CMCL) reported Q2 2026 earnings with 18% production growth, $76M revenue, and $46M EBITDA. EPS rose 29% to $1.36. Key drivers: improved access to high-grade areas, higher gold prices, and operational improvements. Guidance revised for costs and capital expenditure, with focus on Bilboes project funding and exploration.

Caledonia Mining’s Q2 2026 earnings call said production recovered as access to higher-grade areas improved after 2025 fall-of-ground incidents. Grade rose from 2.5 g/t in Q1 to 2.88 g/t in Q2, targeting about 3.1 g/t for the rest of 2026. The company reported higher realized gold price ($4,259/oz, +34% QoQ) and EBITDA up 28.5% for six months, with profit up 27% (3 months) and 40% (six months).

Caledonia Mining (CMCL) said it moved Blanket Mine to a seven-day workweek in June to reduce worker fatigue and increase blasting days by 18%, supporting higher run-of-mine output over time. It plans Lima plant processing from September and an elution upgrade by end-August. Guidance: on-mine cash cost $1,600-$1,800/oz, AISC $2,500-$2,700/oz, 2026 capex $103M. Bilboes spending forecast $48M for 2026, with interim funding targeted for late Aug/early Sep.

The article is a small-cap news roundup covering multiple companies. Highlights include Immunic appointing Elena Ridloff to its board, First Phosphate’s Level 2 Nasdaq ADR uplisting, Thruvision’s £3m+ Asia airport contract, Caledonia Mining keeping 2026 gold output guidance, and Provaris receiving a NAV upgrade to $0.14/share. Other items include drilling updates, project progress, and management changes.