Calibre Mining – Commencement Of Eastern Borosi Production Center Bringing In More Grade-Driven Growth
Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX: CXB – OTCQX: CXBMF), joins us to recap the commencement of mining at its 100% owned Eastern Borosi open pit mine in early April, and ore deliveries to the Libertad processing plant since May. We also dig into the organically-funded exploration strategy, and continuing grade-driven growth of the resources in both Nicaragua And Nevada.
We start off discussing why the high-grade gold ore now being mined at both the Eastern Borosi and the Pavon Central productions centers further substantiates that their hub-and-spoke mining strategy is continuing to add much higher-grade ore through the Libertad Mill. Ryan outlines the pattern of year over year grade-driven growth from the Company, and that trend is continuing in 2023. Additionally, we noted the prior even higher-grade drill results that were returned from Panteon North, as a potential future production center. Ryan outlines that there are a number of new exploration targets being drilled with 6 rigs as part of a 60,000 – 70,000 meter ongoing drill program in Nicaragua.
Next we transition over to the Nevada assets, and all the ongoing exploration work the company has underway around both the Pan Mine area and at the development-stage Gold Rock Project. The exploration team is encouraged by recent drill results stepping out from the known mineralization and finding higher grade gold intercepts at the Coyote target, as well as stepping out from the Pan Mine area and making some new recent discoveries to the south at the Palomino target. There are currently 2 drill rigs turning around the Pan Mine to continue delineating and growing the existing resources.
If you have any follow up questions for Ryan on Calibre Mining, then please email me at Shad@kereport.com.
- In full disclosure, Shad is a shareholder of Calibre Mining.
.
(CXB) (CXBMF) Calibre Mining: Increasing Gold Production in 2023 and Further Exploration in the U.S. and Nicaragua
Swiss Resource Capital AG – June 16, 2023
“Interview with Senior VP Corporate Development and Investor Relations Ryan King. Calibre Mining is a profitable gold producer with multiple producing mines in Nicaragua and the US. The first quarter of 2023 has already gone well, putting the company on track to achieve its targeted gold production of 250,000 to 275,000 ounces of gold this year. The company continues to invest in exploration as there is still mill capacity available, especially in Nicaragua, which Calibre Mining would like to fill. The share price has already recovered significantly and at the same time the valuation remains relatively cheap compared to peers.”
Calibre Mining (CXB) (CXBMF): Corporate Presentation – June 2023
The new modular nuclear reactors apparently use much less nuclear fuel and that could halt the upswing in the price of uranium. Of course, it depends on how fast they are implemented but it also shows how difficult it can be to play the related stocks not just of uranium but of any commodity in the technological boom we are living in. DT
Well, the smaller modular nuclear reactors do require less enriched uranium fuel per reactor, but keep in mind that there could be clusters of them approved in much greater numbers than the larger reactors. Some industry thought leaders think they’d be easier to get approved in many countries, due to the smaller capital costs, no concerns of meltdowns, and ability to even be utilized in retrofitted coal or nat gas power plants. So you’d still get a big swell in Uranium demand once the SMRs start getting built in potentially much greater numbers, along side the slower build process of the larger new generation nuclear plants.
It’s pretty obvious to anyone that has been paying attention to the nuclear supply demand markets the last few years that Uranium has needed to move higher and still needs to move even higher than where it is today to incentivize more production to come online. When Uranium was in the $17-18 range, in both late 2016 and late 2017 it was frankly laughable (like when Oil when negative on the futures markets).
Many of us pointed out at that time period that Uranium term prices (much more important than spot prices… but really both) needed to be up north of $60, and that sub $18 prices were clearly a bottom, and what we were seeing was a generational opportunity to acquired the best companies on severe market dislocations at a sector low. There were some pretty big rallies that proceeded those bottoms in early 2017 and early 2018 that allowed for good trading off those prior sector lows in the stocks.
I remember at the time people still calling for the classic “call/not really a call” in all sectors of “another final washout.” I remember ranting at the time asking if people were nuts? Did they not just see the $17-$18 Uranium double-bottom in late 2016 and 2017? I mentioned we’d not see those prices again for a decade, if ever, and we haven’t. That was as big of a no-brainer as they get, and was the clear bottom in the sector and the bell ringing for anyone that had the ears to listen or that had done even the smallest shred of due diligence.
By 2019 it was becoming obvious the sector could really run, then the pandemic came in early 2020, and all markets were slashed to silly prices. During that time in March/April of 2020, I was adding to my Uranium stocks, along with many other quality sectors on discount, because it was clearly not an If? question and much more of a when? question. Then they U-stocks took off like scalded cats for most of 2020 into 2021 and anyone that wanted to could have caught that ride, as it was setting up for years leading into that time period.
Now with inflation and the reduced purchasing power of the US dollar, it likely needs to be more like $65-$75 just to bring on many projects that are on standby. Ultimately, it’s not that that hard to see triple digit uranium prices just a few years out, and the U-stocks will really run bigly in that kind of a tight supply/demand market and escalating prices.
Polymet Mining Corp. (TSX-POM) announced today that they had received a non-binding proposal from Glencore AG to acquire all outstanding shares of Polymet that it does not already own for cash consideration of U.S. $2.11 per share. The purchase price per share proposed by Glencore represents an approximately 167% premium (WOW) over the price of US $0.79 per share at the close of business Friday, June 30th, 2023.
Polymet is located in the huge Duluth Complex of Minnesota. Another outfit involved in that rich complex is Antofagasta of Chile, partnered with Twin Metals.
Those 2 projects in Minnesota have been on the development racked paused for about a dozen or more years now… There is still so much pushback from certain lobbyist groups, and every few years, there is a lot of hype that they are going to get all the permits, and then another government body will put a kibosh on it. Even a few years back Polymet got a much needed permit, and then that approval was reversed retroactively.
Even though they are quality projects, they’ve been stalled in a similar way that Northern Dynasty’s Pebble deposit up in Alaska has been stalled about a dozen years with too much lobbyist and special interest pushback to get it’s permit approvals. I can think of a number of other polymetallic deposits with good exposure to Nickel that are actually far more likely to be developed.
Just connecting the dots with PGE, Glencore wants to be a big player in the new technology. ..–..– DT
Typically Glencore likes to get involved because they want to have an off-take agreement and their smelting business is how they make a lot of money. It wouldn’t surprise me to see them do some kind of partnership with Sibanye, where they both help produce from the Stillwater West deposit that currently belongs to Stillwater Critical Minerals.
I’ve also been thinking about how Glencore made a move on Teck Resources, that was not approved, so clearly they are looking to make an acquisition. Sibanye could actually be a legit takeover candidate for them as well, for their collection of producing mines, and smelting capabilities as well. They have Nickel/PGMs, Gold, and other Battery Metals that would be of interest to Glencore.
The wrench in those gears though is that there is a $100+ million issue where another acquisition that Sibanye pulled out of (nickel/base metals), due to a seismic event being used as deal-breaker, is being contested by that company (Matt Geiger reviewed this on the weekend show). For now, that is an uncertainty cloud hanging over Sibanye at present as it is litigated.
Still eventually it actually would be pretty accretive for Glencore to absorb all of Sibanye’s assets, especially if the Teck deal is a no go. It’s just a speculation and an interesting idea at this point, but not outside of the real of possibility either.
US Manufacturing Activity Shrinks by Most in Three Years
Bloomberg – Jul 03, 2023
“US factory activity contracted for an eighth month in June, slipping to the weakest level in more than three years as production, employment and input prices retreated.”
“The Institute for Supply Management’s manufacturing gauge fell to 46, the weakest since May 2020, from 46.9 a month earlier, according to data released Monday. The current stretch of readings below 50, which indicates shrinking activity, is the longest since 2008-2009. The reading was also worse than all but one estimate in a Bloomberg survey of economists.”
Condor Energies just keeps climbing, Nice! DT up 20.88%
Major Revaluation Of Gold & Precious Metals Is Imminent
Egon von Greyerz – Gold Switzerland – July 2, 2023
“As the Western Empire is breaking up currently, the Eastern & Southern Empire is gaining ever more significance. More than 30 countries want to join the BRICS and many also the SCO (Shanghai Cooperation Organisation). There is also the Eurasian Economic Union (EEU) which exists since 2014 and consists of several ex Soviet Union States.”
“The enlarged group will consist of more than 40 countries and represent around 2/3 of global population and 1/3 of global GDP. As I have written about in the article “A disorderly reset with gold revalued by multiples”, this is the area which will experience the fastest growth in coming decades as the West gradually declines/collapses under its own deficits and debt burden together with political and moral decay…”
https://goldswitzerland.com/major-revaluation-of-gold-precious-metals-is-imminent/
One of the biggest causes for decline in The Roman Empire was when Rome abolished military service as a prerequisite to Roman citizenship. Now we have open borders, with no restrictions. You don’t even have to be literate. DT
The banker/cabal would prefer them to be ignorant……..
SPY weekly channels show a move to 452+ area is quite possible in the up sub-channel overshoot………technical’s remain strong even w divergences continuing between price and RSI plus OBV….Vix is beginning to be bought even in flattish markets……will this become one of the greatest bull traps ever or just portends the David Hunter melt up prediction to 6,000+ SPX?,,,,no idea…glta
Lawrence Lepard – Triggers For A Gold & Silver Rally
Soar Financially w/ Kai Hoffman – June 28, 2023
“Investment Manager Lawrence Lepard joins us to discuss the potential triggers for a gold & silver rally in the coming months. We are looking at the US Bond quagmire and how it might be the canary in the coal mine.”
Calibre Mining (TSX:CXB): Multi-Jurisdiction Producing Gold Mines and Opportunity for Organic Growth
The Jay Martin Show – Jun 21, 2023
“CEO of Calibre Mining (TSX: CXB | OTCQX: CXBMF) Darren Hall joins the show to provide the history of the Company up to this point, and touch on their producing gold mines in Nicaragua and Nevada, along with future plans on how they will generate value for shareholders. Calibre Mining is a Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua.”
https://youtu.be/oJcwvd1OdzM