Bullboard - Stock Discussion Forum Calibre Mining Corp CXBMF

Primary Symbol: T.CXB

Metals & Mining Gold

Calibre Mining Corp. is a Canadian mid-tier gold producer. The Company has a pipeline of development and exploration opportunities across Newfoundland and Labrador in Canada, Nevada and Washington in the United States, and Nicaragua. It owns several operational open-pit and underground mines, two milling facilities (the El Limon and La Libertad mines), and a portfolio of exploration and... see more

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TSX:CXB - Post Discussion

Calibre Mining Corp > Scotiabank maintains $2.75 price target

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Post by karead on Aug 13, 2024 8:14am

Scotiabank maintains $2.75 price target

Latest Research (August 12, 2024):OUR TAKE: Neutral. Calibre Mining reported Q2/24 results withadj. EPS of $0.02 (vs. our and consensus $0.03 estimate; range $0.03-$0.04) and CFPS of $0.06 (vs. our and consensus $0.06 estimate) on production of 58.8 koz Au that was pre-reported. CXB has now reported cash cost of $1,264/oz and AISC of $1,533/oz (vs. our $1,266/oz and $1,523/oz estimates). The earnings miss was driven by lower revenue and higher finance costs offsetting lower operating costs and taxes. CXB reiterated FY24 guidance calling for production of 275-300 koz Au at AISC of $1,275-$1,375/oz, noting that production is expected to be weighted towards the second half of the year. In Newfoundland, the Valentine project was at 73% complete as at June 30, with the project fully funded and on track to pour gold in Q2/25. In Q2/24, $78M in growth capital was spent at Valentine, bringing total project costs spent to C$381M (~58% spent) out of the total C$653M budget, and finishing the quarter with cash of $128M and $125M remaining to be released from the Sportt credit facility.

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