· Board Appointment: PPC
· AGM Results: Axia
· Trading Update: Caledonia
Board Appointment: PPC
PPC Limited announced the appointment of Mr. Matias Cardarelli as Chief Executive Officer of the Group. He formally took over from Roland van Wijnen from 01 December 2023.
AGM Results: Axia
Axia Corporation Limited held its 8th Annual General Meeting on the 21st of November, 2023, were all the resolutions were passed. These constituted two special business resolutions which include the approval of share buy-back as well as the extending of loans to executive directors.
Trading Update: Caledonia
Caledonia Mining Corporation achieved a revenue of US$41.2 million in the 3-months period to 30 September 2023, which is a record performance. Cumulative year-to-date (9-months) revenue reached US$107.7 million. However, EBITDA for the quarter was 2.5% down from US$15.9 million in 2022 to US$15.5 million. Due to high cost per ounce at the Bilboes oxide mine, which has subsequently been placed on care and maintenance, consolidated on-mine cost per ounce for the quarter rose to US$928 from US$734 per ounce. All-in sustaining cost at Blanket mine for the Quarter was US$1,171 per ounce, up from US$962 in 2022, owing to the higher on-mine cost per ounce and higher sustaining capital expenditure and administrative expenses. The Group reported that it produced 21,772 ounces of gold in the quarter under review, 3% up from 21,120 ounces in 2022. As a highlight, 1,151 ounces of gold were produced from the Bilboes oxide mine in the Quarter, indicating an increase from the 1,076 ounces produced in the second quarter of 2023. Caledonia said Oxide mining will resume when the stripping of the waste for the sulphide project commences.
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