Calibre Mining Corp T.CXB

Calibre Outperforms

[geezer21]

Calibre is one of the most profitable gold miners. I maintain a spread sheet on the fundamentals of 38 gold miners and Calibre is at the top.

At today's price you are paying .$0.67 for 220 to 235 koz of production in 2022.  No other miner has that good a per/ounce valuation.

That production comes at an all-in sustaining cost y-t-d of just $1,268.  That is low and in line with the AISC of top producers.  

Kitco made a list of the lowest 10 AISC miners out of the top 20 miners in Q3 2021.  The average AISC was 941/oz.  However, this year the average so far with Q2 and Q3 reports the average is $1,079.  It will be higher once all the Q3 reports are in and higher once all Q4 2022 reports are in.


https://www.kitco.com/news/2022-03-21/Lowest-cost-gold-mining-companies-in-2021-report.html





CXB has a H2 profit margin of 14%, the seventh most profitable gold miner after the likes of  SSRM,  BTO (that has 25 % of Calibre), NCM, ARIS, MND, and CEE.

However, for CXB you are going to pay the lowest amount. As of Q2 it was 4.1x earnings but something considerably less now thanks to US President Joe Biden's Nicaragua sanctions spooking a sell off last week and Federal Reserve Chairman Jerome Powell spooking the markets today.

In CXB's Q3 report Calibre remains on track to attain its 2022 guidance and is increasing its capital spend to grow production.

[kcac1]

Geez, (You or anyone else that wants to chime in.) Someone touched on this the other day, much like Real Estate, with CXB, it is all about Location, Location, Location.  It apears they have one of the best houses in a terrible neighborhood.  On your spread sheets, how do you factor this in?  As surely the market has country risk a big factor for them. On the same subject, are you

[edx]

On the B2Gold Deal, Libertad was on its way to decomissioning because it was running out of resource. I'm willing to bet B2Gold considered the hub and spoke model that Calibre is now running but there are a few reasons they wouldn't want to execute that themselves. These are my opinion as I can't obviously speak for B2G. Their focus was on their big Oz, long mine life projects in

[Tad]

edx, I spoke with B2Gold at PDAC in June for a few minutes. Yes they really like what Calibre Mining is doing in Nicaragua, and BGold has not sold one share of CXB since selling the assets to CXB. And yes, fully agree with your comparison of Nicaragua to Ecuador  being under-explored . I remember speaking with Kerry Knoll back in 2003-05 time frame. He was the CEO of Glencairn Gold which

[kcac1]

EDX, Thanks for the good info.  I missed the CC call but in reading the Transcript beloe, they could not have done much more imo to try and reassure the market that the sanctions are of little effect. Much of the Q and A was devoted to getting more reassurances. Your reply brings up another question, on their web site, they mention the Mgt team putting deals together totaling $5Bil. Do you

[edx]

You should ask Ryan King that question as he could speak to company intentions better than anyone here. However, I don't think Calibre is likely to be taken out anytime soon. When seniors have to lower their jurisdiction standards to replace reserves they'll probably favor places that aren't direct US sanctions targets and Nicaragua will be the lions share of company production for a

[edx]

For clarity, I mean 2-3 million ozs reserve in Nicaragua. Plenty of indicated and inferred ozs already that can be drilled into reserves too, but that would probably lower the overall reserve grade.