- Record Q1 gold production of 71,539 ounces
- Strong cash position of $214.5 million as of March 31, 2025
- Valentine Gold Mine construction nearing completion
- Strategic merger with Equinox Gold to create Canada's second-largest gold producer
Calibre Mining Corp. (CXBMF, Financial) has announced a record gold production of 71,539 ounces for the first quarter of 2025. This includes 64,469 ounces from its Nicaraguan operations and 7,070 ounces from Nevada. The company is in a robust financial position, reporting $214.5 million in cash as of March 31, 2025.
The development of the Valentine Gold Mine in Newfoundland & Labrador is advancing, with first ore processing now anticipated in early Q3 2025. Once operational, the mine is expected to produce approximately 200,000 ounces of gold annually at its full capacity of 2.5 million tonnes. The slight delay in processing is attributed to scope growth in electrical cabling and contractor performance issues.
In a significant strategic move, Calibre Mining has announced a merger with Equinox Gold, which will establish a leading Americas-focused gold producer. This merger positions the combined entity as Canada's second-largest gold producer, with the potential to exceed 1.2 million ounces of annual production when both Greenstone and Valentine mines operate at full capacity.
The merger is expected to enhance diversification, financial strength, and operational expertise, setting up the company for long-term value creation. The combined company will benefit from an extensive pipeline of development and exploration projects, promising sustainable growth and shareholder value.
