Caliber Mining claims record gold production in the first quarter of 2022.

Kitco News (Kitco) – Calibre Mining (TSX: CXB) announced yesterday that it produced a record 51,898 ounces of gold in the first quarter of 2022, up 14% from the first quarter of 2021.

In Q1 2022, total cash costs and AISC were $1,060 and $1,199 per ounce, respectively, compared to $979 and $1,095 in Q1 2021.

Pre-stripping activities in the Limon Central pit, which were capitalised because they facilitated multi-year operation of the pit, resulted in slightly higher cash costs and AISC quarter over quarter, according to the company.

The company also reported $11.7 million in net income ($0.03 per basic share) and $16.4 million in adjusted net income ($0.04 per basic share).

“Calibre had an excellent start to the year, responsibly delivering record gold production at a total cash cost of $1,060 per ounce and an AISC of $1,199 per ounce, positioning the company well to deliver on full year guidance, despite the current inflationary environment,” said President and CEO Darren Hall.

“The addition of the Nevada assets strengthens our position as a financially sound and expanding mid-tier gold producer with the ability to fund exploration and organic growth from operating cash flow.”

Calibre is a growing mid-tier gold producer with a pipeline of development and exploration opportunities in Nevada and Washington in the United States, as well as Nicaragua.