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Highlights 

  • Calibre Mining Corp posted a consolidated quarterly gold production of 73,485 ounces in Q3 2023.
  • The company's revenue stood at USD 143.8 million in the quarter, versus USD 86.3 million in Q3 2022.
  • It attained record consolidated gold sales of 208,020 ounces for USD 410.1 million, at an average realized gold price of USD 1,932/oz.

A multi-asset gold producer Calibre Mining Corp (TSX: CXB) hosts a portfolio of exploration and development opportunities in Nicaragua. It owns and operates multiple projects, such as IamGold, Santa Rita, Pavon Gold and Borosi Gold Project. Currently, it generates all its revenue through the sale of refined gold from its Nicaragua operations.

For the third quarter of the year 2023, the company posted a consolidated quarterly gold production of 73,485 ounces, marking a 50% surge from 49,081 ounces in the previous corresponding period. Notably, CXB has its output on track to reach its projection of 250,000 - 275,000 ounces of gold for 2023.

The company's revenue stood at USD 143.8 million in the quarter, versus USD 86.3 million in Q3 2022. This increase in revenue can be attributed to record gold production and sales volumes at a higher realised price. Its operating income and net income witnessed a massive growth of 298.9% and 1,276.5%, respectively, in the reporting period. It attained record consolidated gold sales of 208,020 ounces for USD 410.1 million, at an average realized gold price of USD 1,932/oz.

In Q3 2023, Calibre Mining’s cash flow from operating activities was recorded at USD 54.2 million compared to USD 7.1 million in Q3 2022. It attained a free cash flow of USD 16.3 million in the third quarter.

Calibre Mining clocked record cash in hand at USD 97 million for the reporting period, representing a 26% growth over the second quarter of the year 2023 and 72% increase as compared to the beginning of 2023.

Top 10 Shareholders:

Around 42.31% of the total shareholding is held by its top ten shareholders. While B2Gold Corporation owns a maximum stake in the company at around ­­­24.18%, Invesco Advisers, Inc. approximately has 4.53% shareholding in the company.

Stock Price Performance

CXB’s stock price has declined by approximately 12.40% in the last one month. It has dropped by 17.80% over the last three months. The stock’s 52-week high and low price stands at CAD 1.78 and CAD 0.79, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is December 12, 2023. The reference data in this report has been partly sourced from REFINIT