Blanket Gold Mine is now one of the Lowest Cost 
Gold Producers in both Africa and the World

it highlighted -
 


 

The Blanket Gold mine production Au 12,918 ounces of the 
Gold
 99.999% yellow Gold Au metal; 
- Reported in Q3 were produced - 
- 12 per cent higher than 
the 11,560 ounces generated in the second quarter - 

CALVF meanwhile well, its financial position continued to improve 
with almost $25 million of cash on hand - 
its $.05 per share in cash
; increased every quarter after taxes - 

• Q3 gold production - Au 12,918 oz 

• Q3 Cash costs – US$508/oz 

• Q3 Operating cash flow (before capex) – C$ 6.8 million 
– C$18 million 9 months to September 30, 2012
 

• Q3 normalised EBITDA - $9.8 million 
– Further improvement on previous 3 quarters - 

• CALVF Cash at 30 September 2012 - $24.6 million 
– Held in US$ and C$ outside Zimbabwe 

• Blanket Gold Mine’s future development strategy 
- Funded using internal resources 

• Anticipated 700tpd increase in future ore production 

• Work continues at three satellite Gold mines properties: 
Mascot, GG and Eagle Vulture Gold Mines - 

- GG: shaft sinking work has reached 51 metres and will continue 
down to 120 metres 
- Mascot: Shaft has been re-accessed down to 120 metres and 
re-equipped 

• Underground development work continues at 
Eagle Vulture Gold Mine production - 
- with three more Gold Mines it will soon increase the 
Gold production to go much higher - 

Blanket Gold Mines 
Gold production delivered to the refinery in 
October 2012 was 4,479 ounces. 
Caledonia's financial position continues to improve. 
With $25 million+ of cash on hand Caledonia has sufficient 
cash resources to invest in its existing projects and also in 
potential new opportunities."
 


Nama Base Metals Project, Zambia 

The 2012 drilling programme continued with the objectives of 
further identifying and defining extensions of the mineralised 
zone identified in 2011 and increasing the confidence level of 
the information on this mineralised zone.
 

As at October 25, 2012, 30 holes and 8,400 metres of drilling had 
been completed and three rigs are currently working on the site. 

To date, an area of copper mineralization has been defined as 
follows: 

current identified strike length of 1.3 km and 
a dip extent of 900 metres; 

mineralisation intersected at depths from 98 to 579 metres; 

thickness of mineralized zone varies from 10 to 27 metres; 

average copper grade of 0.52%; and 

possible extensions of the mineralized zone to the west and 
to depths below 580 metres will be drill tested in future. 

The 2012 drilling programme is expected to be completed shortly 
following which the drill results will be analysed and 
interpreted. 

Caledonia expects to issue an NI 43-101 compliant 
copper resource and reserve statement by June 30, 2013.
 

Caledonia will continue to manage its cash resources so that it 
retains the financial capacity to progress this project as fast 
and as far as possible without requiring third party involvement 
or equity funding. 

• RE: the information on this mineralised zone - 
As at October 25, 2012, 
30 holes and 8,400 metres of drilling had 
been completed. 
This is more than previously planned and reflects the 
commencement of the complete in-fill drilling program. 

The 2012 drilling programme will be completed shortly 
following which the drill results will be analysed and 
interpreted.
 

Caledonia expects to issue an NI 43-101 compliant copper 
resource and reserve statement by June 30, 2013. 

• the commencement of cobalt production by June 30, 2013; 
the submission of an updated copper sulphide mineral resource and 
reserve statement and as 
sociated feasibility study and program of operations 
by June 30, 2013; and 
the commencement of copper sulphide resource exploitation by 
March 31, 2015.
 

• Caledonia’s Board has approved a proposal which it believes 
will address the requirement of the Zambian government that 
cobalt production commences by June 30, 2012. 
This proposal will be discussed with the Zambian authorities and, 
once ratified, will be communicated to investors. 

• Caledonia has sufficient cash resources to cover all of the 
exploration costs budgeted for 2012 and 2013.
 

Caledonia will continue to manage its cash resources so that it 
retains the financial capacity to progress 
this project as fast and as far as possible without requiring 
third party involvement or equity funding. 

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81595138 

http://www.caledoniamining.com 
God Bless