Calidus Resources March Quarter Production Report

Calidus Resources Limited (ASX: $CAI) has reported a total production of 15,118 ounces in the March quarter of 2024, marking a significant increase from the December quarter 2023 figure of 11,980 ounces. The company's growth strategy is steadily being implemented, with recovered ounces per day rising steadily and guidance for H2 FY2024 maintained at 32,000 - 37,000 ounces.

Executive Commentary on March Quarter Production

The benefits of our growth strategy are clearly evident in the March quarter production results. We are pleased to see the upward trend in production, with the highest monthly production result since the commencement of operations at Warrawoona. The initial treatment of Blue Bar ore in the March quarter and the agreement reached with Macquarie to restructure hedge and debt arrangements have significantly boosted our cashflows. We are maintaining our guidance for the second half of FY2024 and look forward to the full March 2024 Quarterly Report for further details.

Summary of March Quarter Production Report

Calidus Resources Limited (ASX: $CAI) has demonstrated a strong upward trend in production for the March quarter of 2024, with a total of 15,118 ounces. The company's growth strategy is yielding positive results, as evidenced by the steady increase in recovered ounces per day and the maintenance of guidance for H2 FY2024. The commencement of initial treatment of Blue Bar ore and the successful restructuring of hedge and debt arrangements have contributed to a significant boost in cashflows. With a reduction in debt repayments and a healthy cash and cash equivalents position, Calidus is well-positioned for continued growth and success.