Caledonia Mining Corporation Plc (NYSE:CMCL) Q3 2024 Earnings Conference Call November 11, 2024 9:00 AM ET
Company Participants
Mark Learmonth – Chief Executive Officer
James Mufara – Chief Operating Officer
Chester Goodburn – Chief Financial Officer
Craig Harvey – Vice President Technical Services
Camilla Horsfall – Vice President, Group Communications
Victor Gapare – Executive Director
Conference Call Participants
Mark Learmonth
Okay, ladies and gentlemen, welcome. Good afternoon. Welcome to this call to discuss Caledonia’s results for the third quarter. In addition to the usual discussion of financial and operating results, we’ll also discuss the preliminary results of the exploration program at Motapa, which we published this morning. And I’ll also make some brief comments regarding the progress at Bilboes.
I’m joined this afternoon by James Mufara, who’s our Chief Operating Officer. He joined us in May by Chester Goodburn, our CFO. And a new person, a new face, I think, to most of you will be Craig Harvey, who’s our Vice President Technical Services, and he’s responsible for our exploration activities. So he will say a few words about what we’re doing at Motapa. And then I’m joined by Victor Gapare, who’s a Director and he will field questions relating to Bilboes and/or the general environment in Zimbabwe.
Before we get into the presentation, I just want to make a couple of observations. So the first is that Caledonia is changing very rapidly, and that’s reflected in the three announcements that we published this morning.
First of all, we’ve got the financial and operating results, which largely reflect the performance at Blanket. It’s fair to say that production has stabilized from what was a difficult time in 2023, but we now need to address the issue of costs. And we are facing some stronger headwinds than normal, particularly in respect of higher electricity costs and labor
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