Tag Archives: Ryan King

Calibre Reports Record Financial and Operating Results for Q3, Generating $46 Million in Operating Cash Flow and $30 Million in Free Cash Flow; 2020 Guidance Revised To Reflect Higher Production and Lower Costs

Russell Ball, CEO of Calibre stated: “Following the 10-week pandemic shutdown in Q2, we restarted operations in late June and were able to deliver a strong third quarter, generating over $30 million in free cash flow as higher grades drove higher than budgeted production at record margins.  As a result of the strong quarter, we have revised our 2020 guidance to reflect higher production at lower costs, and consequently, elected to make an early repayment of the final acquisition-related payment to B2Gold of $15.5 million, leaving us debt-free.

For further information, please contact:

Ryan King
Vice President, Corporate Development & IR
T: 604.628.1010
E: calibre@calibremining.com
W: www.calibremining.com

Calibre Makes Final Acquisition Payments Totaling US$15.5 Million to B2Gold Ahead of Schedule; Now Debt-Free and Generating Significant Free Cash Flow

Russell Ball, Chief Executive Officer of Calibre, stated: “I want to once again thank B2Gold for extending the repayment terms when we suspended operations in March due to the pandemic. With a strong third quarter at the operations, significant free cash flow generation and US$56 million on hand at quarter-end, we elected to repay the amounts owed to B2Gold on the original repayment schedule. Because that’s what good partners do.”

About Calibre Mining Corp.

Calibre Mining is a Canadian-listed gold mining and exploration company with two 100%-owned operating gold mines in Nicaragua. The Company is focused on sustainable operating performance and a disciplined approach to growth. Since the acquisition of the Limon, Libertad gold mines and Pavon Gold Project, Calibre has proceeded to integrate its operations into a “Hub-and-Spoke” operating philosophy, whereby the Company can take advantage of reliable infrastructure, favorable transportation costs, and multiple high-grade mill feed sources that can be processed at either Limon or Libertad, which have a combined 2.7 million tonnes of annual mill throughput capacity.

For further information, please contact:
Ryan King
Vice President, Corporate Development & IR
T: 604.628.1012
E: calibre@calibremining.com
W: www.calibremining.com

Calibre Mining Reports Strong Third Quarter Gold Production; Cash on hand at Quarter End Increased by 124% to $56 million

Russell Ball, Chief Executive Officer of Calibre, stated: “Production of 45,341 ounces clearly demonstrates the benefits of our ‘Hub-and-Spoke’ operating philosophy. The drilling program has ramped up to fourteen rigs with a focus on targets that could quickly translate into organic growth and free cash flow, given our surplus processing capacity at Libertad. With the consolidation of the Eastern Borosi Gold Project, which hosts 700,500 ounces of gold, the focus there has shifted from a stand-alone operation that had to carry in excess of $100 million in CAPEX, to considering the Eastern Borosi as the next satellite pit for the Libertad complex.”

For further information, please contact:

Ryan King
Vice President, Corporate Development & IR
T: 604.628.1010
E: calibre@calibremining.com
W: www.calibremining.com