2:10 PM EDT, 07/10/2024 (MT Newswires) -- BMO Capital Markets on Wednesday reiterated its outperform rating on the shares of Calibre Mining (CXB.TO) and its C$3.40 price target after the company reported second-quarter production results.
"CXB announced Q2/24 gold production of 58.8koz, which was in line with both consensus and our estimates of 58.6koz and 58.7koz, respectively. CXB also provided a construction update on the Valentine gold project noting that it has surpassed 73% completion and remains on track for first gold pour in Q2/25. Due to the higher grade ore scheduled to become accessible in H2/24 we believe CXB will meet annual guidance of (275-300 koz) and maintain our Outperform rating and C$3.40 target price," analyst Brian Quast wrote.
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If I were to make a wild guess CXB will be ahead of schedule on the build weather permiting?