Published: Jan. 9, 2024 at 6:25 a.m. ET
By Adriano Marchese
Calibre Mining beat gold production expectations in the fourth quarter thanks to strong production at its two main operations in Nicaragua and the state of Nevada. The company expects this momentum to carry over into 2024.
On production:
Consolidated…
By Adriano Marchese
Calibre Mining beat gold production expectations in the fourth quarter thanks to strong production at its two main operations in Nicaragua and the state of Nevada. The company expects this momentum to carry over into 2024.
On production:
Consolidated quarterly gold production came to 75,482 ounces. From its Nicaragua operations, gold production was 64,963 ounces, while Nevada gold production was 10,519 ounces.
According to one analyst polled on FactSet, consolidated production in the period was expected to be about 70,100 ounces.
For the year, production reached 283,494 ounces, better than the company expected. Broken down, Nicaragua full year gold production was of 242,109 ounces and in Nevada, gold production was 41,385 ounces.
Two analysts on FactSet had a consensus of 279,7000 ounces for the year.
On 2024 guidance:
Calibre expects to produce between 275,000 and 300,000 ounces of gold in 2024, with Nicaragua contributing about 235,000 to 255,000 ounces and Nevada between 40,000 and 45,000 ounces.
Consensus estimates for the year are for production to reach about 288,400 ounces.
Write to Adriano Marchese at adriano.marchese@wsj.com
