Update: Calibre Mining Up 1% as Posts Record Q1 Gold Production, Flags Delay at Valentine Gold Project

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Update: Calibre Mining Up 1% as Posts Record Q1 Gold Production, Flags Delay at Valentine Gold Project

, MT Newswires - 11:58 AM ET 4/14/2025 default

11:58 AM EDT, 04/14/2025 (MT Newswires) -- (Updates shares.)

Calibre Mining ( CXBMF ) said Monday that it achieved record gold production in the first quarter and flagged a delay at the Valentine gold project in Newfoundland and Labrador.

The company produced 71,539 ounces of gold for the three months ended March 31, up from 61,767 ounces from the same quarter of 2024.

Calibre said ore processing at the Valentine project is now expected early in the third quarter. The company said the delay "reflects scope growth in certain areas such as electrical cabling and actual contractor performance".

"Valentine is positioned to become a long-life, cornerstone asset in Canada, initially delivering approximately 200,000 ounces of gold annually with significant exploration upside," said chief executive Darren Hall.

In February, Calibre announced a merger with Equinox Gold ( EQX ) to create Canada's second-largest gold producer.

Calibre shares were last seen up $0.04 to $3.20 on the Toronto Stock Exchange.

Price: 3.19, Change: +0.02, Percent Change: +0.79

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