Calibre Mining (TSX: CXB)
Announced the Company has entered into a key pre-commissioning and commissioning contract with Reliable Controls Corporation of Salt Lake City for the Company’s Valentine Gold Mine (“VGM”) in Newfoundland and Labrador.
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| Calibre Mining | TSX: CXB |
| Stage | Production, development, exploration |
| Metals | Gold |
| Market cap | C$1.2 Billion @ C$1.68 |
| Location | Canada, Nicaragua, USA |
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CALIBRE ENTERS PRE-COMMISSIONING AND COMMISSIONING CONTRACT WITH RELIABLE CONTROLS CORPORATION AND EXECUTES A GOLD PREPAYMENT
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VANCOUVER, British Columbia, March 28, 2024 (GLOBE NEWSWIRE) — Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) is pleased to announce the Company has entered into a key pre-commissioning and commissioning contract with Reliable Controls Corporation of Salt Lake City (“RCC”) for the Company’s Valentine Gold Mine (“VGM”) in Newfoundland and Labrador.
The Company has also executed a US$60 million short term, gold prepayment agreement with Asahi Refining USA Inc. (“Asahi”), pursuant to which Asahi has agreed to purchase a total of 27,600 ounces of gold from the Company, comprising less than 10% of the Company’s expected 2024 gold production.
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Darren Hall, President and Chief Executive Officer of Calibre, stated:
“With construction at Valentine 61% complete I remain confident in our ability to deliver first gold during H1, 2025. To further derisk delivery, I am pleased to announce that we have secured RCC, a team of highly experienced commissioning experts to lead pre-commissioning and commissioning of the process plant.
Given the strong gold price environment, and continued investment across our portfolio of assets, we have executed a US$60 million 12-month gold prepay as part of our cash flow management strategy as we transition to a quality mid-tier gold producer.
“The prepay represents less than 10% of our expected 2024 gold production with deliveries commencing in May 2024.”
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To read the full news release, please click HERE
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Disclosure
At the time of writing the author holds shares in Calibre Mining.
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