Update: Caledonia Mining Shares Drop After Lower Q3 Gold Production at Blanket Mine, Outlook Cut
MT newswire2026/10/09 18:1502:15 PM EDT, 10/09/2026 (MT Newswires) -- (Updates with recent stock movement in the headline and the first paragraph.) Caledonia Mining (CMCL) shares dropped 1.6% in afternoon trading on Friday after the company reported lower third-quarter gold production at its Zimbabwe-based Blanket Mine on Friday due to compressed air shortages in mining areas and a temporary rise in inventory. For the quarter ended Sept. 30, gold production fell to 17,030 ounces from 19,106 ounces a year earlier. The company lowered its fiscal 2026 gold production guidance for the mine to 69,000 to 72,500 ounces from the previous range of 72,000 to 76,500 ounces. Following the reduction in the annual outlook, the company expects Q4 gold production to reach around 19,800 to 23,300 ounces. Price: 24.02, Change: -0.40, Percent Change: -1.62
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