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Calibre provides production update

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Global Mining Review,

Calibre Mining Corp. has announced gold production for 4Q20 and year ending 31 December 2020.

4Q20 and 2020 production and sales

  • 4Q20 production of 42 573 oz and sales of 42 334 oz of gold, respectively.
  • 2020 production of 136 009 oz and sales of 135 357 oz of gold, respectively.

2021 production, sales and cost outlook

  • Gold production and sales of between 170 000 and 180 000 oz.
  • Total cash costs of between US$950 and US$1050/oz.
  • AISC of between US$1040 and US$1140/oz.

Russell Ball, CEO of Calibre, stated: “The team delivered a safe and strong fourth quarter to finish the year ahead of guidance and I am grateful for their dedication and focus during an exceedingly difficult year.

“Looking to the future, I am excited about the 30% production growth we expect to deliver in 2021 as we commence first ore deliveries from our Pavon Norte opencast mine this month. With strong cash flow generation, we will be reinvesting in the business through an increased exploration budget and development of our Panteon and Atravesada underground mines, which are expected to commence ore deliveries before the end of 3Q21 of 3Q22, respectively.

“In addition, we have started the technical work and expect to commence drilling later this quarter at our now 100%-owned Eastern Borosi Project. While not included as part of our August 2020 multi-year outlook, I believe the Guapinol deposit represents the next opportunity for us to deploy our ‘hub-and-spoke’ operating philosophy to generate significant value for all stakeholders.”

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