CALIBRE REPORTS ROBUST Q2 FREE CASH FLOW: A THIRD CONSECUTIVE RECORD GOLD PRODUCTION QUARTER, A 133% INCREASE IN EARNINGS PER SHARE, AND 32% INCREASE IN CASH ON HAND
VANCOUVER, British Columbia, Aug. 09, 2023 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) announces financial and operating results for the three (“Q2 2023’’) and six months (“YTD 2023”) ended June 30, 2023. Consolidated financial statements and management discussion and analysis can be found at www.sedarplus.ca and the Company’s website, www.calibremining.com . All figures are expressed in U.S. dollars.
Q2 2023 Highlights
Record gold sales of 69,009 ounces with $139.3 million total revenue, at an average realized gold price 1 of $1,974/oz;
Consolidated Total Cash Costs (“TCC”) 1 of $977, and All-In Sustaining Costs (“AISC”) 1 of $1,178 per ounce;
Record adjusted net income 2 of $33.6 million; $0.07 per basic share, a 133% increase over Q2 2022;
Free cash flow of $15.9 million reflecting strong operating results 3 ;
Cash on hand of $77.0 million, a 32% increase over Q1 2023;
Delivered a fourth new open pit mine with ore deliveries from the Eastern Borosi mine to the Libertad mill ;
Initial drilling yielded high-grade results from the past producing Talavera deposit within the Limon Mine Complex, reaffirming the Company’s overall resource expansion and discovery potential ;
Positive Higher-grade Near Surface Drilling at the Pan Gold Mine, Nevada ; and
2022 Sustainability Report illustrates a focused commitment to responsible mining business practices.
Year-to-Date (“YTD”) 2023 Highlights
Record consolidated gold sales of 134,779 ounces grossing $266.2 million in total revenue, at an average realized gold price 1 of $1,933/oz;
Consolidated TCC 1 of $1,068/oz; Nicaragua $1,009/oz & Nevada $1,386/oz;
Consolidated AISC 1 of $1,239/oz; Nicaragua $1,156/oz & Nevada $1,427/oz;
Adjusted net income 2 of $49.8 million, or $0.11 per share; and
Consolidated Mineral Reserves have increased 370% since acquisition in 2019, to 1,346,000 ounces gold.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “I am pleased to announce another exceptional quarter in which we delivered a third consecutive production record resulting in our strongest quarterly net income to date. Our consolidated Total Cash Cost and All-in Sustaining Costs being lower than budget position the Company to deliver full year production and cost guidance and generate strong free cash flow. As we continue to strengthen our balance sheet, we remain fiscally responsible by self-funding all exploration and organic growth from operating cash flow while increasing our cash position.
Calibre continues to present a compelling investment opportunity with a diversified asset base within the Americas, high-grade, high margin gold production, extensive growth and expansion prospects and strong cash generation. During the quarter our investment into exploration continued to yield fruitful returns. In Nevada, new shallow, high grade gold mineralization has been identified in proximity to the south pit which is expected to positively impact grades as early as next year. In Nicaragua, we continue to intersect high-grade mineralization along the VTEM Gold Corridor at Limon with continued anticipated conversion to year end Resources and Reserves.
We remain focused on sustainable mining practices and responsible resource management which has contributed to our success thus far and we will continue to prioritize environmental stewardship and community engagement.”
For the remainder of the news release see :
https://www.calibremining.com/news/calibre-reports-robust-q2-free-cash-flow-a-third-5790/
GLTA !
|
