Calibre Mining – Recapping 2021 Operations, And Focused On Exploration And Production Growth In 2022

Shad Marquitz
February 28, 2022

Ryan King, VP of Corporate Development and IR at Calibre Mining (TSX: CXB – OTCQX: CXBMF), joins us for to recap the 2021 year of operations and development, and the 2022 plans for a large 85,000 meter exploration program in both Nicaragua and Nevada.  


The Company produced 183,000 ounces of gold at their Nicaragua operations in 2021, compared to 136,000 in 2020 so saw substantial growth, along with $105 million in net operating cashflows, and a 48% increase in their cash position.   The guidance for 2022 is 180,000-190,000 ounces of production out of Nicaragua, and 40,000 – 45,000 ounces of production out of Nevada, but overall grades will be increased lowering the per-ounce costs.   In addition, the Company announced on February 23rd, that they’ve increased the Nicaraguan mineral reserves in excess of 1 million ounces of Gold; a 254% increase since Q4 2019, net of production depletion.


 Next we get an in-depth review of all the resource expansion and exploration focus across Nicaragua at Pavon Central, Pavon Norte,  Bona Vista, Limon, Eastern Borosi, and around the Libertad Mill at the Volcan, Tranca, and Rosario targets. Ryan also outlines how quick the timeline has been to explore, develop, permit, and then move the prior satellite deposits into production thus far, and what that may mean for all these new zones the company has drilled in 2021, and plans to drill in 2022.


We wrap up a with a review of the exploration and development focus at the Nevada projects, mostly around the producing Pan Mine, but also to better understand the growing development project at Gold Rock.


If you have any follow up questions for Ryan on Calibre Mining, then please email us at or