Q4 2019 Highlights:
- Transformed Calibre from a junior exploration company into an immediate gold producer through the acquisition of the El Limon and La Libertad gold mines, the
Pavon Gold Project , and a number of prospective exploration concessions inNicaragua from B2Gold Corp. (“B2Gold”); - Delivered on guidance at both
El Limon and La Libertad with production of 15,440 and 18,066 ounces of gold, respectively; consolidated total of 33,506 ounces of gold; - Completed an over-subscribed
C$105 million equity financing; - Converted B2Gold’s
US$10 million debenture to equity, making B2Gold our largest shareholder at 34%; - Completed an updated resource estimate for the development stage Pavon open-pit gold project, with a 318% increase in the indicated resource to 230,000 ounces at an average gold grade of 5.16 g/t;
- Graduated from the
TSX Venture Exchange to the TSX Exchange, with average daily trading volumes of approximately 500,000 shares; - Commenced an initial
US$13 million , 47,000-metre resource expansion and discovery drilling program; and - Strengthened the management team with the appointment of
Mark Petersen as VP, Exploration.
Description | La Libertad | Consolidated | ||
Ore Milled (tonnes) | 100,221 | 353,254 | 453,475 | |
Ore Milled Grade (g/t Au) | 5.74 | 1.74 | 2.62 | |
Recovery (%) | 91.3 | 96.4 | 94.0 | |
Gold Production (ounces) | 15,440 | 18,066 | 33,506 |
Operating Overview
La Libertad
La Libertad delivered on guidance by producing 18,066 ounces of gold. Production resulted from processing 353,254 tonnes at an average grade of 1.74 g/t with average recoveries of 96.4%. The mine plan was resequenced due to the temporary suspension of blasting activities at the Jabali underground mine, although no change is expected to the previously announced 2020 production guidance of between 70,000 and 75,000 ounces.
The government continues to make progress with the relocation of households in the nearby community of
Cash Position
At
2019 Financial Earnings Results and Conference Call Details
2019 financial results will be released on
When: | |
Dial-in: | (866) 221-1882 or 1 (470) 495-9179 (International) |
Conference ID: | 4337098 |
Please join the conference call at least five minutes early to register. The live webcast can be accessed at www.calibremining.com in the Events and Webcast section under the Investor Relations tab.
The live audio webcast will be archived and made available for replay at www.calibremining.com.
Presentation slides which accompany the conference call will be made available in the Investors section of the Calibre website, under Presentations, prior to the conference call.
Qualified Person
ON BEHALF OF THE BOARD
“Russell Ball”
Chief Executive Officer
For further information, please contact:
Vice President,
T: 604.628.1010
E: calibre@calibremining.com
W: www.calibremining.com
About
Cautionary Note Regarding Forward Looking Information
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities legislation, including: the Company's projected gold production from
Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond Calibre’s control, including risks associated with or related to: the volatility of metal prices; changes in tax laws; the dangers inherent in exploration, development and mining activities; the uncertainty of reserve and resource estimates; cost or other estimates; actual production, development plans and costs differing materially from the Company's expectations; the ability to obtain and maintain any necessary permits, consents or authorizations required for mining activities; the current ongoing instability in
Calibre’s forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. These assumptions and factors include, but are not limited to, assumptions and factors related to Calibre’s ability to carry on current and future operations, including: development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; the availability and cost of inputs; the price and market for outputs, including gold; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.
Calibre's forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date hereof. Calibre does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, no assurance can be given that any events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what benefits or liabilities Calibre will derive therefrom. For the reasons set forth above, undue reliance should not be placed on forward-looking statements.
Source:
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