Calibre Mining Corp., a growing mid-tier gold producer, has announced its financial and operating results for the first quarter of 2024. The company reported significant highlights for Q1 2024, including the completion of the acquisition of Marathon Gold, strengthening its position as a high-growth, cash flow-focused gold producer in the Americas.
The Valentine Gold Mine, which Calibre acquired, has shown promising results with a mineral endowment of 2.7 Moz of Reserves. Exploration efforts at the Valentine site have demonstrated resource expansion and discovery potential, with high-grade gold intersected in initial drill results.
Progress at the Valentine site is substantial, with construction surpassing 64% completion and gold production on track for Q2, 2025. Additionally, exploration efforts in Nicaragua have revealed bonanza grade mineralization, indicating the potential for resource expansion and discovery.
Calibre’s consolidated financial results for Q1 2024 include revenue of $131.9 million and a net loss of $3.6 million. However, adjusted net income for the quarter was $5.6 million, showing positive results when certain temporary or one-time items are excluded.
Looking ahead, Calibre has provided guidance for 2024, expecting growth in gold production and focusing on exploration and development opportunities across its asset portfolio. The Company remains committed to sustainable value creation for shareholders, local communities, and all stakeholders through responsible operations and disciplined growth strategies.
Investors and stakeholders can learn more about Calibre’s performance and future outlook by participating in the upcoming conference call on May 15, 2024, where management will discuss the results in more detail.
