Caledonia Mining Corporation Reports Production Results for the Fourth Quarter and Full Year 2015; Provides Production Guidance for the Year 2016
Total 2015 gold production was approximately 42,806 ounces, a 2.5% increase over the annual gold production in 2014 of 41,771 ounces and 1.9% higher than the production guidance of 42,000 ounces for 2015.
Targeted gold production for 2016 is approximately 50,000 ounces, unchanged from previous guidance. The rate of production is expected to increase over the course of 2016 as production from the No. 6 Winze increases. The quarterly production profile is expected to be approximately 10,700 ounces of gold in the first quarter of 2016 increasing to approximately 14,000 ounces of gold by the fourth quarter of 2016.