Calibre Mining Corp

Latest Results (13.01.2025):

Revenue and Gold Sales

In the third quarter of 2024, Calibre Mining Corp reported gold sales of 46,076 ounces, generating $111.4 million in revenue. This represents a decrease from Q3 2023, where the company sold 73,241 ounces, resulting in $141.3 million in revenue. The average realized gold price for Q3 2024 was $2,418 per ounce, compared to $1,929 per ounce in the same period the previous year.

Production and Costs

Calibre Mining Corp produced a total of 45,697 ounces of gold in Q3 2024. The company's total cash costs (TCC) and all-in sustaining costs (AISC) were reported at $1,580 and $1,946 per ounce, respectively. These figures reflect the company's ongoing efforts to manage production costs amidst fluctuating market conditions.

Earnings and EBITDA

For the third quarter of 2024, Calibre Mining Corp reported net earnings of $1.0 million, with earnings per basic share at $0.00. Adjusted net earnings were $2.2 million, also translating to $0.00 per basic share. The company's EBITDA for Q3 2024 was $30.0 million, contributing to a year-to-date EBITDA of $109.4 million.

Cash Flow and Financial Position

Calibre Mining Corp experienced a negative cash flow from operating activities of $17.8 million in Q3 2024, a significant shift from the positive cash flow of $54.2 million in Q3 2023. The company reported cash holdings of $115.8 million as of September 30, 2024, alongside current restricted cash of $100.5 million, indicating a strong liquidity position despite the negative cash flow.

Outlook and Strategic Initiatives

Calibre Mining Corp announced a gold forward prepay arrangement, "Prepay II," for an upfront payment of $55 million. This arrangement involves delivering a total of 20,000 gold ounces in 2025, based on forward curve prices averaging approximately $2,816 per ounce. This strategic initiative aims to provide financial flexibility and support the company's growth objectives in the coming year.