Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) is pleased to provide a multi-year outlook of its forecast gold production, highlighting the Company’s 2023 and 2024 production increase.
Darren Hall, President & Chief Executive Officer of Calibre, stated: “High-grade, open pit reserves at Pavon Central (6.5 g/t Au) and Eastern Borosi (6.8 g/t Au) will fuel a 25% increase in consolidated production by 2024 leading to lower per ounce costs and increased margins. The effectiveness of our operating model to efficiently permit and develop satellite deposits by leveraging off the installed capacity at La Libertad will continue to result in high returns on invested capital.
“Additionally, drilling investment at the Pan Mine in Nevada is expected to lead to mine life expansion and operational efficiencies while we advance the adjacent Gold Rock Project to potentially add a second producing asset with the ability to double our Nevada production which is not yet included in this outlook.”
“With $77.3 million in cash at the end of Q1 2022, no debt and strong cashflow from our producing assets, this reserve backed multi-year production outlook solidly positions Calibre to self fund additional, low capital intensity growth initiatives while continuing to invest in value accretive exploration to support our future.”
Consolidated Multi-Year Outlook
|Consolidated Gold Production (koz)||220 – 235||250 – 275||275 – 300|
|Nicaraguan Production (koz)||180 – 190||210 – 230||235 – 250|
|Pan Nevada Production (koz)||40 – 45||40 – 45||40 – 50|
Darren Hall, MAusIMM President and Chief Executive Officer of Calibre Mining Corp. is a “qualified person” as set out under NI 43-101 and has reviewed and approved the scientific and technical information in this news release.
About Calibre Mining Corp.
Calibre Mining is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. Calibre is focused on delivering sustainable value for shareholders, local communities and all stakeholders through responsible operations and a disciplined approach to growth. With a strong balance sheet, no debt, a proven management team, strong operating cash flow, accretive development projects and district-scale exploration opportunities Calibre will unlock significant value.
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We acknowledge the [financial] support of the Government of Canada.