Update: 2015 pivotal to Blanket’s growth
Caledonia’s FY14 results reflect a challenging period for the Blanket mine. Subdued grades and limitations imposed by infrastructure have led the company to re-invigorate the operation via a substantial US$70m investment programme (funded from cash-flow). This investment has already started, with the goal to lift production to 70-75koz by 2021, and provide for greater flexibility in mining at Blanket. FY15 will be the first full year of production under the new plan and a realistic 42koz production target has been set as expansion gathers pace.
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