Caledonia Mining Corporation Plc produced 17,360 ounces of gold at its Blanket Mine in Zimbabwe for the quarter ended June 30, 2026. This figure represents an 18% increase compared with the 14,767 ounces produced in the first quarter of 2026, driven by improving access to higher-grade mining areas.

The company reported that the average grade delivered to the plant in Q2 2026 was 2.88g/t, with grades improving steadily since January 2026. As of July 2026, the grade to date stands at 3.05g/t. Despite the quarterly improvement, production in Q2 2026 was lower than the comparable period in 2025, which benefitted from exceptional grades and resulted in a record second quarter. The lower performance in 2026 reflects the planned mining sequence and constrained access to higher-grade areas during the first half of the year.

Operational Outlook

Caledonia reaffirmed its production guidance for Blanket of 72,000 to 76,500 ounces for 2026. The company expects production to be weighted towards the second half of the year as access to higher-grade mining areas continues to improve. Operational measures to restore access to higher-grade ore are gaining traction, reflected in the improving grades quarter-on-quarter.

Looking ahead, the company anticipates further production increases in the second half of 2026. This outlook is supported by improved access to higher-grade mining areas, the completion of the elution plant upgrade enabling the processing of stockpiled fine grain loaded carbon from September onwards, and the processing of approximately 200 tonnes per day of additional ore following the implementation of a 7-day working week from June 2026.

Production Metrics

Mark Learmonth, Chief Executive Officer, stated that the company is tracking a grade of approximately 3g/t and expects to remain at that level for the rest of the year. He expressed confidence in the full-year production guidance, citing the introduction of a 7-day working week and the completion of the elution plant upgrade due in the third quarter of 2026 as key drivers for the expected increase in production.

BlackRock, Inc. increased its total voting rights in Caledonia Mining Corporation Plc to 6.14% on July 6, 2026, crossing a notification threshold as defined by the AIM Rules for Companies. The change was reported to the company on July 7, 2026. The updated position reflects an increase from the previous notification, which reported a total position of 6.12%.

The resulting situation includes 5.20% of voting rights attached to shares, representing 1,006,040 shares. Additionally, BlackRock holds 0.94% of voting rights through financial instruments, bringing the total number of voting rights held to 1,188,812.

Breakdown of Holdings

The financial instruments consist of 115,815 voting rights through securities lending and 66,957 through contracts for difference (CFDs). BlackRock, Inc., based in Wilmington, DE, USA, provided the notification through its Regulatory Threshold Reporting Team. The filing was completed on July 7, 2026, in London.