Published: 17 May 2018

LONDON Stock Exchange-listed resources firm, Caledonia Mining Corporation (Caledonia), says its cash from operating activities surged by 296 percent to $7 million in the first quarter from $1,77 million in the 2017 first quarter due to "substantial increase in cash from operating activities due to higher profit and reduced working capital".

This was after the gold producer's net profit attributable to shareholder increased to $3,1 billion from $2,3 billion in the first quarter of last year.

The company reported that its gold production was marginally increased this year with one percent change since last year and produced this quarter 12 924 ounces of gold.

"As we continue to grow production to our target of 80,000 ounces by 2021, maintain cost control and benefit from economies of scale we look forward to further increasing cash flows and earnings," Caledonia chief executive Steve Curtis said. 
- fingaz

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