Record quarterly production keeps Calibre on track to meet guidance

12th July 2023 By: Mariaan Webb - Creamer Media Senior Deputy Editor Online

Record quarterly production keeps Calibre on track to meet guidance

Toronto-listed Calibre Mining has delivered another record quarter, with production of 68 776 oz being ahead of budget and positioning the company well to deliver its full-year guidance of 250 000 oz to 275 000 oz, reports CEO Darren Hall.

Production increased by 15% year-on-year in the second quarter, and year-to-date output is up 20%.

During the June quarter, the miner successfully delivered expanded production capacity with a fourth new openpit mine in three years. Mining at the Eastern Borosi openpit, in Nicaragua, started in April and ore was delivered to the Libertad processing plant in May.

Calibre’s Nicaragua gold production amounted to 58 392 oz and its Nevada gold output was 10 384 oz in the quarter.

The firm’s cash increased by 32% to $77-million over the first quarter.

“We believe Calibre continues to present a compelling investment opportunity as we responsibly self-fund discovery and resource expansion, grow production and build reserves, whilst concurrently building cash,” said Hall.