Vice President Technical Services - Craig Harvey Vice President Corporate Development and Investor Relations - Maurice Mason Operator: Welcome to the Caledonia Mining Q2 trading update. We are joined by Mark Learmonth and the management team. Mark Learmonth: Thank you, Scott.
Could we get into the presentation, please? Well, morning, good afternoon to you. Should we just quickly go to the disclaimer page?
Then on to the presenting team. So I am Mark Learmonth, Caledonia's Chief Executive, and we are joined today by Ross Jerrard, the CFO, Victor Gapare, another Executive Director who is running the Bilboes project, by Craig Harvey, VP Technical Services. He runs Exploration and MRM.
Also in attendance we have Maurice Mason, who is Vice President Corporate Development and Investor Relations. Okay, just in terms of an overview, production was up 18% in the second quarter compared to the first quarter, which reflects improved access to higher grade mining areas and benefits from various operating improvements. Revenue up 16% to $76 million, and EBITDA up 16% to nearly $46 million, supported by stronger production and a robust gold price environment.
Profit after tax up 27% compared to comparable period in 2025, up to $30 million. EPS was up 29% to $1.36 for the quarter. Operating cash flow was strong, $28.4 million.
Cash and cash equivalents at the end of the quarter was $167.8 million. The growth pipeline is going well. We are making good progress at Bilboes, as Victor will explain.
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