Q2 2024 Calibre Mining Corp Earnings Call Transcript
Key Points
- Calibre Mining Corp (CXBMF) achieved 58,754 ounces of gold production in Q2, aligning with expectations.
- The company is on track to meet its full-year production guidance of 275,000 to 300,000 ounces.
- Construction of the Valentine Gold Mine is 77% complete, with first gold expected in Q2 2025.
- The company has commenced a 100,000-meter drill program at the Valentine property, indicating strong exploration potential.
- Calibre Mining Corp (CXBMF) has maintained a strong safety record, with significant milestones in Nevada and Nicaragua operations.
- Higher tonnes mined in Q2 led to short-term cost tensions, impacting immediate financial performance.
- The company faces potential challenges with winter construction at the Valentine Gold Mine, although they are confident in their preparations.
- There were some production impacts earlier in the year, shifting some ounces from Q2 to H2.
- The company has significant capital expenditures remaining, with CAD211 million still to be spent on the Valentine project.
- Calibre Mining Corp (CXBMF) needs to maintain focus on delivering on its commitments, with any distractions potentially being value-destructive.
Good morning and welcome to the Calibre Mining Corp. 2024 second quarter conference call.
(Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Ryan King. Please go ahead.
Thank you, operator.
Good morning, everyone, and thank you for taking the time to join the call this morning. Before we commence, I'd like to direct everyone to the forward-looking statements on slide 2 of the presentation. Our remarks and answers to your questions today may contain forward-looking information about the company's future performance. Although management believes that are forward-looking statements are based on fair and reasonable assumptions, actual results may turn out to be different from these forward-looking statements.
For a complete discussion of the risks, uncertainties, and factors which may lead to actual operating and financial results being different from the estimates
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