Calibre Mining Corp

Latest Results (15.10.2025):

Calibre Mining Corp has reported its financial and production results for the first quarter of 2025. The company achieved consolidated gold production of 71,539 ounces, surpassed initial cost estimates with an all-in sustaining cost of $1,389 per ounce, and advanced the Valentine Gold Mine towards production scheduled for the third quarter. Additionally, Calibre is progressing with its merger with Equinox Gold, anticipated to close in the second quarter of 2025.

Gold Production

In Q1 2025, Calibre Mining Corp produced a total of 71,539 ounces of gold, with Nicaragua contributing 64,469 ounces and Nevada adding 7,070 ounces. This performance positions the company to potentially exceed its full-year production guidance of 230,000 to 280,000 ounces.

Cost Management

The company's consolidated all-in sustaining costs were $1,389 per ounce, which is below the budgeted expectations. Specifically, Nicaragua reported an AISC of $1,255/oz, while Nevada's AISC stood at $1,748/oz, showcasing effective cost discipline across operations.

Valentine Gold Mine Progress

Construction at the Valentine Gold Mine is advancing towards first gold production expected by the end of Q3 2025. Despite a minor delay caused by lower productivity and scope growth, the project remains fully funded with significant capital already secured. Enhanced contractor oversight and the appointment of Pierre Légaré as Project Director are set to ensure a smooth ramp-up to full operations by Q1 2026.

Merger with Equinox Gold

Calibre Mining Corp is moving forward with its merger with Equinox Gold, expected to finalize in Q2 2025. This merger aims to create a major Americas-focused gold producer, enhancing diversification, scale, and operational expertise, and is anticipated to deliver greater value to stakeholders than the companies could achieve independently.

Financial Performance

For Q1 2025, Calibre reported gold sales of 71,545 ounces generating $200.0 million in revenue, up from $131.9 million in Q1 2024. Net earnings were $22.6 million, and adjusted net earnings reached $40.1 million. The company maintained a strong balance sheet with $177.4 million in cash and restricted cash combined.