LONDON (ShareCast) - (Sharecast News) - Gold miner Caledonia Mining raised full-year production guidance on Monday as it turned in a solid third-quarter performance.
Caledonia said 15,164 ounces of gold were produced in the three months ended 30 September, an 11.1% increase year-on-year, leading the group to up its 2020 guidance to between 55,000 and 56,000.

The AIM-listed firm said its "record" third-quarter result also kept it on track to reach its production target of 80,000 ounces by 2022.

Chief executive Steve Curtis said: "Notwithstanding the negative effect of the coronavirus pandemic on supply chains and operating arrangements, Blanket has delivered robust production results for the first nine months of 2020.

"Along with the increased dividend, this really demonstrates the strength of our business."

As of 1150 BST, Caledonia shares were up 3.17% at 1,367.0p.

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