Calibre Mining Corp T.CXB

Well that was a kind of a non event

[karead]

Q1 numbers were good, but then they were expected to be. I was actually hoping for another cent per share to the bottom line, but they were still good. Conference call wans't really worth listening to. Only two questions from analysts, mostly related to future strategic plans.

Onwards to Q2...

[geezer21]

Q2 will be even better as not only is production increasing but increased grade ore will have a full quarter impact where as the higher grades only came on stream for part of Q1. In addition, there is a lot going on in other areas.

[karead]

Agreed. And if the price of gold stays where it is, Q2 will be FAR better.

[geezer21]

Already for Q2 the April to date May price of gold is well above the average price of gold in Q1.

[edx]

The market is probably looking at the 2023 guidance on AISC and seeing Q1 higher than guidance, however the company guidance was for 2023 in aggregate, not Q1. Reason for that? A couple I think. You can see in the MD&A that Libertad mill grades were pretty low at 3.22 gpt in spite of milling high grade from Pavon Central (77,437 tonnes of much higher grade) in Q1. Overall reserve grade of

[edx]

Forgot to include the MD&A quote about mine sequencing, but that's where the development rock angle comes from. Also possible they mixed in some of the lowest grade stuff out of Limon, but I think it's more likely it was primarily development rock being delivered from Limon. Sending low grade to Libertad makes the most sense to me from the angle that the company needed to do something

[shmenkari]

Now that was very well stated and a very appreciated run down of the likely grade situation. I have great hopes for the future of Calibre, Good Luck to all