CALIBRE MINING CORP. TSX: CXB
OTCQX: CXBMF
Calibre Mining
Creating a Growth-Oriented,Americas-Focused,
Mid-Tier Gold Producer with a Compelling Value Proposition
Q2 & YTD 2022
Business Update Conference Call
August 10, 2022
Cautionary Note
Forward-Looking Information
This presentation includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation. All statements in this presentation 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 in this presentation include, but are not limited to: Calibre Mining Corp.'s ("Calibre" or the "Company") expectations toward higher grades mined and processed going forward, increased overall annual production and cash flow in 2023 and 2024 and lower per ounce costs; statements and expectations with respect to production guidance, growth and optimization opportunities, and potential mineral reserve or mineral resource expansion in respect of the Company's mineral properties; statements relating to the Company's 2022 priority mineral resource expansion opportunities; the Company's exploration focus at the El Limon Complex; the Company's metal price and cut-off grade assumptions; the Company's opportunities at Volcan and Tranca at the La Libertad Complex; the Company's plans for the La Libertad Complex for 2022, including the anticipated date of development, permitting and production at Pavon Central and the anticipated dates of permitting, construction, mining and hauling and commercial production at EBP and the Company's expectations with respect to Pavon and EBP and their respective contributions to production growth. 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 ("AIF") for the year ended December 31, 2021, and its management discussion and analysis ("MD&A") for the year ended December 31, 2021, all available on the Company's SEDAR profile at www.sedar.com. This list is not exhaustive of the factors that may affect Calibre's forward-looking statements.
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. Such assumptions include, but are not limited to: the Company being able to mine and process higher grades and keep production costs relatively flat going forward; there not being an increase in production costs as a result of any supply chain issues or ongoing COVID-19 restrictions; there being no adverse drop in metal price or cut-off grade at the Company's Nicaraguan properties; the Company's opportunities at Volcan and Tranca at the La Libertad Complex coming to fruition; there being no adverse development or hindrance in the permitting or construction processes at Pavon and EBP and their respective potential and ability to contribute to production growth. 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.
2 | CALIBRE MINING CORP | TSX:CXB |
Continued Execution, Re-Affirming Guidance
YTD Gold sales1 112,270 oz; Nicaragua 91,766 oz & Nevada 20,504 oz | |||||
Q2 Gold sales 59,783 oz; Nicaragua 48,849 oz & Nevada 10,935 oz | Nicaraguan Processed Grade (g/t)1 | ||||
Continued Nicaraguan production growth in H2 | 5.0 | ||||
4.28 | |||||
YTD Total Cash Costs1,2 $1,121/oz; Nicaragua $1,069/oz & Nevada $1,351/oz | |||||
3.81 | |||||
Q2 Total Cash Costs $1,174/oz; Nicaragua $1,119/oz & Nevada $1,423/oz | 4.0 | ||||
YTD AISC1,2 $1,244/oz: Nicaragua $1,149/oz & Nevada $1,365/oz | 3.19 | ||||
3.0 | 2.79 | ||||
Q2 AISC $1,284/oz; Nicaragua $1,185/oz & Nevada $1,437/oz | |||||
YTD Exploration $27.0M; drilled 120,000 metres; YTD Growth Capital $32.1M | 2.0 | ||||
2020 | 2021 | Q1 2022 | Q2 2022 | ||
2022 Full Year Production and Cost Guidance3 | ||||||
Description | Consolidated | Nicaragua | Nevada | |||
Gold Production/Sales | 220,000 - 235,000 | 180,000 - 190,000 | 40,000 - 45,000 | |||
(ounces) | ||||||
Total Cash Costs ($/ounce)2 | $1,075 | - $1,150 | $1,000 | - $1,100 | $1,400 | - $1,500 |
AISC ($/ounce)2 | $1,200 | - $1,275 | $1,100 | - $1,200 | $1,450 | - $1,550 |
Growth Capital ($ million) | $55 - $60 | $45 - $50 | $5 - $10 | |||
Exploration Capital ($ million) | $40 | - $42 | $20 | - $22 | $18 | - $20 |
1. | Refer to the Calibre Mining Second Quarter 2022 Financial Earnings press release dated August 9, 2022 found on the Company website at www.calibremining.comand on www.sedar.com. | ||||
3 | 2. | This is a non-IFRS financial measure within the meaning of National Instrument 52-112. Refer to the information under "Disclosure" in this presentation | . | CALIBRE MINING CORP | TSX:CXB | |
3. | Refer to the Calibre Mining Fourth Quarter and Full Year 2021 Financial Earnings press release dated February 23, 2022 found on the Company website at www.calibremining.comand on www.sedar.com | ||||
Q2 & YTD 2022 Financial Results
Increasing | Cash While Investing in Growth | ||||||||
$100 | $92 | ||||||||
$78 | $77 | ||||||||
$75 | $73 | ||||||||
$ | 66 | ||||||||
$50 | |||||||||
$34 | |||||||||
$24 | $22 | $27 | |||||||
$25 | $17 | ||||||||
$0 | |||||||||
Q2 2021 | Q3 2021 | Q4 2021 | Q1 2022 | Q2 2022 | |||||
Ending cash balance | Investment activities | ||||||||
YTD 2022 | Q2 2022 | Q1 2022 | |
Gold Produced (oz) | 111,621 | 59,723 | 51,898 |
Gold Sold (oz) | 112,270 | 59,783 | 52,487 |
$'000s except per ounce and per share amounts | |||
Revenue | $210,825 | $111,260 | $99,565 |
Depreciation | $25,206 | $12,802 | $12,404 |
Net income | $27,129 | $15,428 | $11,701 |
Net income per share (basic) | $0.06 | 0.03 | 0.03 |
Adjusted Net income2 | $31,916 | $15,475 | $16,441 |
Adjusted Net income per share (basic)2 | $0.07 | 0.03 | 0.04 |
Cash from operating activities | $61,492 | $43,237 | $18,255 |
Average Realized Gold Price ($/oz)1 | $1,878 | $1,861 | $1,897 |
Total Cash Costs ($/oz)1 | $1,121 | $1,174 | $1,060 |
AISC ($/oz)1 | $1,244 | $1,284 | $1,199 |
Total Cash Cost increase from Q1 due to inflation, higher total material movement at Pan Margins and operating cash flows remain strong to self fund re-investment for future growth
Cash on hand increased as a result of operating activities, receipt of the Nevada surety bond, and working capital balances
- This is a non-IFRS financial measure within the meaning of National Instrument 52-112. Refer to the information under "Disclosure" in this presentation.
- Refer to Note 2 "Adjusted Net Income" in the Q2 2022 press release dated August 9, 2022.
4 | CALIBRE MINING CORP | TSX:CXB |
Significant Potential: Limon and the Panteon Corridor
Limon
Produced >3.5 million ounces since the early 1940s
2022 focus has shifted from conversion and confidence to expansion and discovery
Since Q4, 2019, three new zones have been discovered
Multiple new targets outlined via numerous layers of science
Recent Bonanza Grades intercepted1
66.03 g/t Au over 5.6 metres in Hole LM-22-4630
30.33 g/t Au over 5.0 metres in Hole LM-22-4628
22.55 g/t Au over 4.9 metres in Hole LM-22-4632 17.80 g/t Au over 7.3 metres in Hole LM-22-4619
Four rigs in operation focused on new targets including Panteon North and Talaveras extension - mobilizing fifth rig in August
1. Refer to the Calibre Mining press release titled "Calibre Intersects Bonanza-Grade Gold at the Limon Complex; Reinforcing Strong Potential to Add Resources and Expand the Panteon Mine" dated
June 27, 2022 and found on the Company website at www.calibremining.comand on www.sedar.com.
5 | CALIBRE MINING CORP | TSX:CXB |
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Calibre Mining Corp. published this content on 09 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 August 2022 22:01:09 UTC.
