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(Kitco News) - Americas-focused gold producer Calibre Mining (TSX: CXB) announced Wednesday that the company achieved record performance in Q2 2023 on multiple fronts.
Operationally, Calibre reported a record consolidated quarterly gold production of 68,776 ounces in Q2 2023, the third consecutive record quarter and up 15% compared to Q2 2022 (59,723 ounces).
The company said that year-to-date production was also a record, with consolidated H1 2023 gold production of 134,526 ounces, which is a 20% increase in gold production compared to H1 2022 (111,621 ounces), adding it remains well on track to deliver full year guidance of 250,000 – 275,000 ounces.
Calibre said its Q2 2023 total cash costs and all-in sustaining costs (AISC) were $977 per ounce (Q2 2022: $1,174 per ounce) and $1,178 per ounce (Q2 2022: $1,284 per ounce) respectively, placing the company in a strong position to deliver full year cost guidance.
The company also announced record Q2 2023 gold sales of 69,009 ounces with $139.3 million total revenue (Q2 2022: revenue of $112.8 million), at an average realized gold price of $1,974/oz, as well as a record adjusted net income of $33.6 million or $0.07 per basic share, a 133% increase over Q2 2022.
In a press release, Calibre said that given current gold prices, the company is “poised” to generate strong free cash flow and continue to grow cash after investments in growth, development, and exploration.
“Calibre continues to present a compelling investment opportunity with a diversified asset base within the Americas, high-grade, high margin gold production, extensive growth and expansion prospects and strong cash generation,” it added.
Calibre Mining is a Canadian-listed, Americas-focused, growing mid-tier gold producer with a pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua.
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