Record Q4 and Full Year 2022 Production
Consolidated full year gold production of 221,999 ounces:
Consolidated Q4 gold production of 61,294 ounces:
Full Year 2022 Highlights
Excellent drill results and milestones achieved across numerous assets, reaffirming the Company's multi-year, grade-driven production growth strategy; Pavon Central open pit mining permit approved Q2, 2022, on track for production Q1, 2023; Substantial progress made at the
Drilling indicates the potential for a new, high-grade,
2023 Consolidated Gold Production and Cost Guidance
Consolidated gold production and sales of between 250,000 and 275,000 ounces; Consolidated Total Cash Costs 1 ('TCC') between
With multiple drill rigs turning across our asset portfolio, our exploration investment continues to yield exciting results as we expand the high-grade gold discovery at Panteon North and the VTEM geophysical corridor that runs north of Panteon at the
We continue to integrate our sustainability initiatives across the business, publishing our 2021 Sustainability Report and launching the Company's five-year strategy, enabling Calibre the social license to operate as we remain committed to delivering positive and sustainable benefits to all stakeholders.
I believe 2023 will be a transformational year, driven by an organic 20% increase in production, strong free cash flow, and significant exploration to expand recent high-grade gold discoveries not included in our multi-year, grade driven production increase strategy. Calibre has a solid, clear, and sustainable path to profitable growth.'
Q4 and Full Year 2022 Financial Results and Conference Call Details
The fourth quarter and full year 2022 financial results will be released after market close on
Date:
Time:
Webcast Link: https://edge.media-server.com/mmc/p/5qjci7oa
Instructions for obtaining conference call dial-in numbers:
1. All parties must register at the link below to participate in Calibres' Q4 and full year 2022 conference call.
2. Register by clicking https://register.vevent.com/register/BI868e1e65f2574b20a557a2de7726fd1b
3. Once registered you will receive the dial-in numbers and PIN number for input at the time of the call.
The live webcast and registration link can be accessed here and at www.calibremining.com under the Events and Media section under the Investors tab. The live audio webcast will be archived and available for replay for 12 months after the event at www.calibremining.com . Presentation slides that will accompany the conference call will be made available in the Investors section of the Calibre website under Presentations prior to the conference call.
Qualified Person
Contact:
Senior Vice President
T: 604.628.1010
E: calibre@calibremining.com
W: www.calibremining.com
About
(1) NON-IFRS FINANCIAL MEASURES
The Company believes that investors use certain non-IFRS measures as indicators to assess gold mining companies, specifically Total Cash Costs per Ounce and All-In Sustaining Costs per Ounce. In the gold mining industry, these are common performance measures but do not have any standardized meaning. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Accordingly, it is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS.
Total Cash Costs per Ounce of Gold : Total cash costs include mine site operating costs such as mining, processing, and local administrative costs (including stock-based compensation related to mine operations), royalties, production taxes, mine standby costs and current inventory write downs, if any. Production costs are exclusive of depreciation and depletion, reclamation, capital, and exploration costs. Total cash costs per gold ounce are net of by-product silver sales and are divided by gold ounces sold to arrive at a per ounce figure.
All-In Sustaining Costs per Ounce of Gold : A performance measure that reflects all of the expenditures that are required to produce an ounce of gold from current operations. While there is no standardized meaning of the measure across the industry, the Company's definition is derived from the AISC definition as set out by the
Cautionary Note Regarding Forward Looking Information
This news release includes certain 'forward-looking information' and 'forward-looking statements' (collectively 'forward-looking statements') within the meaning of applicable Canadian securities legislation. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are identified by words such as 'expect', 'plan', 'anticipate', 'project', 'target', 'potential', 'schedule', 'forecast', 'budget', 'estimate', 'intend' or 'believe' and similar expressions or their negative connotations, or that events or conditions 'will', 'would', 'may', 'could', 'should' or 'might' occur. Forward-looking statements necessarily involve assumptions, risks, and uncertainties, certain of which are beyond Calibre's control. For a listing of risk factors applicable to the Company, please refer to Calibre's annual information form for the year ended
Calibre's forward-looking statements are based on the applicable assumptions and factors management considers reasonable as of the date hereof, based on the information available to management at such time. Calibre does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Accordingly, undue reliance should not be placed on forward-looking statements.
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