Calidus Resources (ASX: CAI)

Have produced an updated presentation for the Noosa Mining Conference in Australia.

Calidus are improving production rates and striving to lower AISC at their Warrawoona producing gold mine in Western Australia.

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Calidus Resources Updated Presentation for the Noosa Mining Conference

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Calidus Resources (ASX: CAI)

Have produced an updated presentation for the Noosa mining Conference in Australia.

Calidus are improving production rates and striving to lower AISC at their Warrawoona producing gold mine in Western Australia.

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To view the updated presentation, please click here and scroll down.

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Disclosure

At the time of writing the author holds shares in Calidus Resources

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Calidus Resources (ASX: CAI)

Reported record quarterly gold production at Warrawoona of 16,177 ounces.

The strong result means Calidus has met its guidance for the six months to 30 June
2023 of 31,000 – 36,000oz by producing 31,364oz.

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Calidus Resources commemorative coin

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Calidus Announce Record Gold Production at Warrawoona

Calidus Resources Limited (ASX:CAI) is pleased to report record quarterly
production at Warrawoona of 16,177 ounces.

The strong result means Calidus has met its guidance for the six months to 30 June
2023 of 31,000 – 36,000oz by producing 31,364oz.

The record production is particularly pleasing given the impact of Tropical Cyclone Ilsa during the quarter.

All-in sustaining costs (AISC) for the June quarter are not finalised but are
expected to be within guidance of A$2,000 – A$2,250/oz.

June production of 5,745 ounces was a record at Warrawoona and continues the
trend of steadily increasing production on both a monthly and quarterly basis.

This sets an excellent platform for continued growth through higher-grade pits
and undergrounds.

Further details will be available in the full June 2023 Quarterly Report later this
month.

To read the full news release, please click HERE

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Calidus Resources (ASX: CAI)

Has published an updated corporate update for a recent mining conference in Australia.

Calidus is recovering from early production teething problems at ther Warrawoona mine in Western Australia. 

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Calidus Resources Warrawoona mine

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Calidus Resources Publish an Updated Corporate Presentation

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Calidus Resources (ASX: CAI) has published an updated corporate update for a recent mining conference in Australia.

Calidus is recovering from early production teething problems at ther Warrawoona mine in Western Australia.

To access the presentation slide deck, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources

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Calidus Resources (ASX: CAI)

Announced a record 16,000 ounces of gold sold in the March Quarter.

The company continues to improve production as mine start issues are ironed out, and guided that production is now on track.

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Calidus Resources Warrawoona mine

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March Quarterly Production Report – On track to meet guidance with record
16koz of gold sold

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Calidus Resources (ASX: CAI) announced a record 16,000 ounces of gold sold in the March Quarter.

The company continues to improve production as mine start issues are ironed out, and guide that production is now on track.

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OPERATIONS

• Warrawoona Gold Project (WGP) March 2023 quarter gold sales totalled
15,982 ounces
• Quarter on quarter increase of 35% in gold sold
• All-in Sustaining Cost (AISC) of A$2,093/oz
• Average realised price of A$2,509/oz
• Margin over AISC of A$416/oz
• Hedge reduced by 11,335 ozs
• Zero Lost Time Injuries and Zero Restricted Work Injuries (RWI) were
recorded in the quarter.

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GUIDANCE

• Guidance for H2 FY2023 remains unchanged at 31,000 – 36,000oz at AISC
A$2,000 – A$2,250/oz
• June quarter production forecast to be higher than March quarter with ongoing de-bottlenecking of the plant
• Forecast life-of-mine costs for the open pit remain at an AISC of A$1,700 –
A$1,850/oz. The lower costs for LOM reflect strip ratios reducing 20% as the
pit is deepened and associated savings in mining costs
• Clear line of sight to 130,000 ozs pa

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Calidus Resources Managing Director, Dave Reeves said:

“These results demonstrate that the initiatives to improve production has successfully resulted in strong cash flow from Warrawoona in the March Quarter.

 

“As further initiatives are realised, we expect increased gold production in the June Quarter as final de-bottlenecking works are completed on the processing plant to allow sustained operations at above name plate capacity.

 

“I would like to acknowledge the fantastic efforts of all personnel working at Warrawoona whose tireless efforts in challenging summer conditions have made this quarter such a success.”

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Further details on the Company’s performance for the March quarter to be provided on or around 28 April 2023.

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To read the full news release, please click HERE

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in Calidus Resources.

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Calidus Resources (ASX:CAI)

Provided an update on operations at its Warrawoona Gold Project in February 2023.

A total of 182,000 tonnes of ore at a reconciled grade of 0.89 g/t was processed with 5,005 ounces of gold recovered. This equates to 180 ounces per day or 66,000 ounces annualised. 

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Calidus Resources Warrawoona mine

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Calidus Resources Warrawoona Gold Mine achieves record production rates in February – Daily production climbs to 180ozs per day

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Calidus Resources (ASX:CAI) is pleased to provide an update on operations at its Warrawoona Gold Project (WGP) in February 2023.

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Production Update

A total of 182,000 tonnes of ore at a reconciled grade of 0.89 g/t was processed with 5,005 ounces of gold recovered.

This equates to 180 ounces per day or 66,000 ounces annualised.

February numbers should be taken in the context of it being a short 28-day month and included a planned one-day mill maintenance shutdown.

During the month of February, mining achieved budgeted movement of 455,000 BCMs and the mill operated at 300tph, which is 6% above estimated blend throughput rate (factoring into account the amount of fresh ore being fed that has a budget throughput rate of 250tph).

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Exploration Update

Drilling of 17 closely spaced holes targeting extensions of the previously reported high grade intercept of 6m @ 40.15 g/t Au at the newly discovered Felix deposit has been completed.

Assays are expected in early April.

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Corporate Guidance for H1 CY 2023 remains unchanged at 31,000 to 36,000 ounces at A$2,000 to A$2,250 per ounce due to current maximum strip ratios being undertaken in the pit.

As the strip ratio decreases to LOM averages combined with the increased milling performance, the Company is targeting an average LOM Open Pit AISC of between A$1,700 to A$1,850 per ounce.

More detail will be provided in the guidance to be released at year-end.

The Company made a further A$5 million debt repayment in February reducing the outstanding balance of the Project Loan Facilities to A$97 million.

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To read the full news release, please click HERE

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.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the he author holds shares in Calidus Resources.

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Calidus Resources (ASX: CAI) is pleased to declare commercial production at the Warrawoona Gold Project. The processing plant is now operating at nameplate capacity.

A total of 191,000t @ 0.85g/t was processed in December with 5,053 ozs of gold produced. 

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Calidus Resources Warrawoona mine

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Comment

This is certainly welcome news for Calidus shareholder, myself included.

It should be noted the cash cost figure is unaudited, and is not the AISC figure I use normally, but it’s a useful guide to where they are currently. 

It’s good to see production climbed steadily over 5 weeks, and we can only hope they continue to improve, and we now have to await new guidance which we should have very soon.

Commercial production declared at Commercial production declared at
Warrawoona Gold Project

Production rates continue to climb with plant operating at nameplate capacity and positive cashflow achieved in December

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Calidus Resources (ASX: CAI) is pleased to declare commercial production at the
Warrawoona Gold Project (WGP). The processing plant is now operating at nameplate
capacity.

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December Update

A total of 191,000t @ 0.85g/t was processed in December with 5,053 ozs of gold
produced.

The operation averaged 235oz recovered per day for the last third of the month.

Estimated, unaudited cash costs for December were approximately A$2,050/oz.

(Spot gold price in Australian dollars on 10th January 2023 was A$2,728/oz).

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Guidance

Production and Cost Guidance for the remainder of the financial year will be provided
with the January Quarterly due later this month.

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Calidus Managing Director Dave Reeves said:

“We are very pleased to have achieved commercial production and positive cashflow from the operations for the month.

 

“This is a credit to the whole team at Warrawoona.

 

“We are now focussing on fine tuning operations to increase throughput rates and production and we look forward to releasing guidance later this month.”

1. C1 Cash Cost per Ounce Recovered – is unaudited and notional given that December is prior to commercial production.

C1 Cash Costs includes: mining, processing, site administration and by-product credits.

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To read the full news release, please click HERE

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=======

.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

=======

.

City Investors Circle is based in the financial district in the City of London

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.

Disclosure

At the time of writing the author holds shares in the company mentioned.

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