Gold Prices Up 34%, But Unit Costs Rose 49%: Why Profit Growth at Zimbabwe Gold Mines Can't Be Judged Solely by Gold Prices

Caledonia's Q2 profits rose, but Blanket production fell 17.6% year-on-year and AISC increased to $2,678/oz; high gold prices are buying time for operational volatility and the Bilboes construction project, rather than eliminating cost issues.