Calibre Mining Corp T.CXB

NI-4301

[Bentouttashape]

The more I read about the Pan Mine, the more it shows how bad of a deal this Mine is for Caliber share holders. The updated MRE in the report shows a decrease measured and indicated resources of 68,500 oz of gold or approx. 16%. 

Calibre also told us as shareholders at time purchase that this was a 50,000 oz/yr gold mine. Fact: This mine has never produced 50,000 oz of gold. Last year production was about 20% under that amount. So couple that with the 16% reduction of the MRE and this is what we paid 118 mil for. 

So when I hear people saying what a good deal this was, I know those must ex Fiore shareholders, because for them it was a super deal, but for us old caliber shareholders, it's the worst deal of the decade.  When I hear people saying Darren Hall should be CEO of the year, think again.

This stock would be so far ahead on stock price if not for the purchase of Fiore. And if this company purchases Condor, which is an even bigger gong show  and we will see another plunge in stock price.

[Tad]

Bentoutashape, I was not overly impressed with the Fiore acquisition either, with the resulting dilution. I did make some comments back at the time of the purchase, but it was, in part, a perceived country de-risking move by the company.  However, this management team saw some potential with Fiore over and above the operations at the time of purchase. The exploration potential is shaping up