Home Mining Caledonia Describes Bilboes Gold Acquisition as “Transformational”

Caledonia Describes Bilboes Gold Acquisition as “Transformational”


Caledonia Mining Corporation PLC says the acquisition of Bilboes Gold, the owner of the Bilboes Gold Project “transformational” and will be a cornerstone of the organization’s strategy.

CEO Mark Learmonth said the size, grade and cheapness of the asset attracted the company. He highlighted that the asset will be a series of open pit operations.

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Caledonia Mining is a profitable cash-generative gold producer with a strong growth profile; Caledonia’s primary asset is the Blanket Mine in Zimbabwe.

 According to Caledonia Mining Bilboes is a large, high-grade sulphide deposit which is amenable to low-cost, open-pit operations. A feasibility study on the Bilboes project which the Bilboes vendors have prepared envisages the production of approximately 168,000 ounces of gold per annum over a 10-year life.


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