Calibre Mining has surpassed expectations in gold production during the fourth quarter, thanks to strong operations in Nicaragua and Nevada. The company anticipates maintaining this positive momentum throughout 2024.
Production Update
In the last quarter, Calibre Mining achieved a consolidated gold production of 75,482 ounces. The Nicaragua operations contributed 64,963 ounces, while Nevada recorded 10,519 ounces of gold production.
According to an analyst’s survey on FactSet, the estimated consolidated production for this period was around 70,100 ounces.
For the entire year, production reached an impressive total of 283,494 ounces, exceeding the company’s initial projections. Of the total production, Nicaragua accounted for 242,109 ounces, while Nevada contributed 41,385 ounces of gold.
Two analysts on FactSet had previously forecasted a consensus of 279,700 ounces for the year.
Outlook for 2024
Looking ahead to 2024, Calibre Mining is optimistic about its gold production potential. The company expects to produce between 275,000 and 300,000 ounces of gold. Nicaragua is projected to contribute approximately 235,000 to 255,000 ounces, while Nevada aims to produce between 40,000 and 45,000 ounces.
The consensus estimates for the year suggest a total production of approximately 288,400 ounces.