CALIBRE MINING CORP ORD - CXBMF STOCK NEWS

Calibre Mining announced that B2Gold has sold 79 million of its shares in Calibre to new long-term shareholders in an arm's length transaction priced at C$1.76 per share. Despite the sale, B2Gold retains 31,950,333 shares, representing 4% of Calibre's outstanding shares. Chairman Blayne Johnson expressed gratitude towards B2Gold for their role in Calibre's formation and continued partnership. Due to the reduced ownership, Randall Chatwin, B2Gold's representative on Calibre's Board of Directors, has resigned.

Calibre Mining (TSX: CXB; OTCQX: CXBMF) has announced the appointment of Daniella Dimitrov as Senior Vice President and Chief Financial Officer, effective June 25, 2024. Dimitrov brings over 20 years of experience in mining and capital markets, having previously held key roles at IAMGOLD , Orvana Minerals, and Sprott Capital Partners. She is recognized for her extensive governance experience and has been named one of the Top 100 Global Inspirational Women in Mining. Darren Hall, CEO of Calibre, expressed confidence in Dimitrov's ability to lead the finance team as the company progresses toward becoming a mid-tier gold producer.

Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) announced the approval of all matters submitted to shareholders at its Annual General Meeting (AGM) held on June 12, 2024, via live webcast. Shareholders representing 59.41% of the company's issued and outstanding common shares participated. Key approvals included the election of the Board of Directors and the re-appointment of PricewaterhouseCoopers LLP as the company's external auditors. Detailed voting results show high approval rates for all director nominees, notably Darren Hall with 99.27% of votes for his election. Full details can be found in the company's Management Information Circular.

Calibre has announced significant drilling results from its 2024 exploration program at the Valentine Gold Mine complex in Newfoundland & Labrador. Highlights include intersections of 2.25 g/t gold over 15.30 meters, and 36.83 g/t gold over 0.91 meters. These results, located southwest of the Leprechaun deposit, demonstrate potential for further expansion of the mine's gold resources. The newly discovered mineralization is situated between 100 and 175 meters south of prior high-grade drilling, with both areas remaining open for further exploration. Calibre plans to continue drilling in this region to identify additional targets and infill gaps. The findings indicate upside potential beyond the current 2022 Mineral Reserve statement, enhancing the resource value of the 32 km long Valentine Lake Shear Zone.

On June 4, 2024, Calibre (TSX: CXB; OTCQX: CXBMF) announced a geotechnical incident at the west wall of its Limon Norte Open Pit in Nicaragua. The incident, which occurred on May 25, 2024, did not cause any injuries or equipment damage but will necessitate changes to the mine's sequencing, impacting Q2 2024 gold production. Despite this, operations at other Limon sites remain unaffected. The company expects Q2 2024 production to range between 55,000 and 60,000 ounces of gold. Calibre maintains its full-year production guidance at 275,000 to 300,000 ounces by prioritizing higher-grade ore in the latter half of the year.

Calibre Mining released its fourth Annual Sustainability Report, detailing significant achievements in environmental, social, and governance (ESG) performance. The report highlights a 28% compounded annual production growth and a 370% increase in mineral reserves since becoming a gold producer in 2019. Financially, the company reported $144 million in cash reserves. Key ESG milestones include a 20% reduction in greenhouse gas emissions from 2020 to 2023, a 14% increase in workforce, and zero high-risk environmental incidents. Additionally, the company distributed $489 million in economic value and paid $48 million in taxes and royalties in 2023.

Calibre Mining announced key updates to its board and senior management. Douglas Hurst and Raymond Threlkeld will not seek re-election to the board at the June 12, 2024, annual meeting. Hurst and Threlkeld have served since 2016 and 2018, respectively, contributing significantly to various committees. Calibre nominates Omaya Elguindi, a seasoned tech executive, for board election. Concurrently, CFO David Splett will resign effective July 31, 2024, with Korn Ferry leading the replacement search. These changes aim to bring fresh perspectives and expertise as the company navigates new technological landscapes.

Calibre Mining Corp. (CXBMF) announced significant progress at its Valentine Gold Mine in Newfoundland and Labrador. The construction is 64% complete, and detailed engineering is 98% finished. The first gold pour is scheduled for Q2 2025. The project's initial capital cost is now estimated at C$653 million, up C$145 million from Marathon Gold's previous estimate. Despite the cost increase, the project remains fully funded with approximately C$400 million in cash and substantial operational cash flows. Key milestones include the completion of the Tailings Management Facility starter dam, connection to permanent power, and employment of the operations leadership team. Exploration activities show promising results, with substantial district-scale potential and ongoing drilling campaigns.

Calibre Mining Corp. (CXBMF) announced its Q1 2024 financial and operating results, highlighting significant progress in various projects. The acquisition of Marathon Gold added the Valentine Gold Mine with substantial reserves and resources. Construction at Valentine advanced to 64% completion, aiming for first gold production in Q2 2025.

Calibre reported Q1 2024 revenue of $131.9 million, a slight increase from Q1 2023. Gold sales were 61,778 ounces at an average price of $2,092/oz. Total cash costs rose to $1,337/oz and AISC to $1,555/oz. Cash flow from operations was $45.8 million, with $144 million in cash on hand as of April 30, 2024. However, Calibre posted a net loss of $3.6 million, or $0.01 per share.

Exploration and resource expansion activities continued in Nicaragua and Nevada, with high-grade mineralization reported. Calibre remains on track to meet its full-year gold production guidance of 275,000 to 300,000 ounces.