Calibre Mining – Q2 Operations Reported Robust Free Cash Flow, A Third Consecutive Record Gold Production Quarter, a 133% increase in Earnings Per Share, and 32% increase in Cash on Hand

Ryan King, Senior VP of Corporate Development and IR at Calibre Mining (TSX.V:CXB – OTCQX:CXBMF), joins us to unpack the key takeaways from the August 9th news release announcing the financial and operating results for the three months (Q2 2023) and six months (YTD 2023) ended June 30, 2023.  


Q2 2023 Highlights


  • Record gold sales of 69,009 ounces with $139.3 million total revenue, at an average realized gold price of $1,974/oz;
  • Consolidated Total Cash Costs (TCC) of $977, and All-In Sustaining Costs (AISC) of $1,178 per ounce;
  • Record adjusted net income of $33.6 million; $0.07 per basic share, a 133% increase over Q2 2022;
  • Free cash flow of $15.9 million reflecting strong operating results;
  • Cash on hand of $77.0 million, a 32% increase over Q1 2023;
  • Delivered a fourth new open pit mine with ore deliveries from the Eastern Borosi mine to the Libertad mill;
  • Initial drilling yielded high-grade results from the past producing Talavera deposit within the Limon Mine Complex, reaffirming the Company’s overall resource expansion and discovery potential;
  • Positive Higher-grade Near Surface Drilling at the Pan Gold Mine, Nevada;


We have Ryan expand on some of the business strategies and macro factors that led to keeping costs contained, capitalizing on solid margins, and growing both the cash on hand along side the capital invested back into development and exploration.   We wrap up having him review a number of the significant exploration discoveries over the last few years, and some of the more recent drill targets the team is honing in on in Nicaragua, guided by VTEM data.   Ryan points out that company has been acquiring new exploration concessions with the knowledge that they have proven out over several years their hub and spoke mining methodology trucking ore from satellite deposits to their 2 producing mills is working.


If you have any questions for Ryan regarding Calibre Mining, then please email us at either or


  • In full disclosure Shad is a shareholder of Calibre Mining at the time of this recording.




Click here to see the Calibre Mining news section

    Aug 22, 2023 22:37 PM

    (TSX: CXB) (OTCQX: CXBMF) Calibre Mining – Corporate Presentation – August 2023

    Creating a Growth-Oriented, Americas-Focused, Mid-Tier Gold Producer with a Compelling Value Proposition

    Aug 22, 2023 22:42 PM

    Calibre Mining: Multi-Jurisdiction Producing Gold Mines and Opportunity for Organic Growth

    The Jay Martin Show – June 21, 2023

    “CEO of Calibre Mining (TSX: CXB | OTCQX: CXBMF) Darren Hall joins the show to provide the history of the Company up to this point, and touch on their producing gold mines in Nicaragua and Nevada, along with future plans on how they will generate value for shareholders.”

      Aug 22, 2023 22:20 PM

      And it could have been bought for pocket change less than a year ago…and… more than tripled from there.

    Aug 22, 2023 22:49 PM

    It is so rare in mining to meet initial profitability and fund your own growth. Maybe west red lake or lion one will accomplish something like this but I am not convinced. This is a special company in a bad jurisdiction.