Caledonia Mining Blanket Mine Drilling Reveals Better Than Expected Results
Portfolio Pulse from Benzinga Newsdesk
Caledonia Mining Corporation Plc (CMCL) reported positive results from its deep level drilling program at Blanket Mine, with findings indicating better than expected grades and widths in the Blanket and Eroica ore bodies. The program, which ran from June to December 2023, comprised 7,652 meters of drilling, contributing to a total of 13,280 meters for the year.
January 30, 2024 | 7:11 am
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Caledonia Mining's recent drilling results suggest potential for an increased overall resource at Blanket Mine, which could positively impact the company's asset valuation and future production prospects.
The announcement of better than expected drilling results typically leads to positive investor sentiment as it implies potential for increased resources and future production. This can result in a higher asset valuation for the company and an uptick in stock price in the short term.
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