Ryan King, VP of Corporate Development and IR at Calibre Mining (TSX: CXB – OTCQX: CXBMF), joins us for a comprehensive overview of the Q4 and year-end operations, the massive ongoing exploration program in both Nicaragua and Nevada.
We start off with a review of the 4 Nevada projects and producing Pan Mine, acquired in the takeover of Fiore Gold (TSX.V: F). The company anticipates upwards of 50,000 ounces of annual production from Pan, but also is drilling to more ounces from inferred to measured & indicated as well as drilling outside of the resource area for expansion. In addition there are drills turning at the Gold Rock development project, where the prior PEA shows the potential to add another 50,000-60,000 ounces of annual production in the pipeline. Beyond that there is the prior producing Illipah Project with 222 KMs of mineralization in Nevada, and then finally the Golden Eagle project in Washington with 2 million ounces of gold reserves as future optionality.
Next we get an in-depth review of all the resource expansion and exploration focus across Nicaragua at Pavon Central, Pavon Norte, Limon, Eastern Borosi, and around the Libertad Mill at the Volcan, Tranca, and Rosario targets. Ryan also outlines how quick the timeline has been to explore, develop, permit, and then move the prior satellite deposits into production thus far, and what that may mean for all these new zones the company has drilled in 2021, and plans to drill in 2022.
We wrap up with a review of guidance of 180,000 – 190,000 ounces of production from the Nicaragua operations in 2022, and another 50,000 ounces of production in Nevada. Ryan also highlights that despite inflationary pressures and supply chain concerns which all companies are managing, they have strategies in place for cost optimization and a projected AISC of $1100 – $1200 for the year to come.
If you have any follow up questions for Ryan on Calibre Mining, then please email us at Fleck@kereport.com or Shad@kereport.com.