Calibre Mining Secures $100 Million for Expansion Across North America

Calibre Mining (TSX: CXB; OTCQX: CXBMF) has announced a significant move towards expansion, securing $100 million in funding for various projects spanning Canada, the United States, and Nicaragua.

Calibre Mining (TSX: CXB; OTCQX: CXBMF) has announced a significant move towards expansion, securing $100 million in funding for various projects spanning Canada, the United States, and Nicaragua. The company has struck a deal with a syndicate of underwriters led by BMO Capital Markets, solidifying a bought deal for 59.6 million shares at a price of $1.68 per share. Additionally, the underwriters have the option to purchase up to an additional 15% in over-allotments, indicating strong investor confidence in Calibre’s growth prospects.

Developments Across Diverse Locations

Calibre Mining’s strategic allocation of funds underscores its commitment to diversifying and strengthening its portfolio across multiple jurisdictions. The proceeds from this substantial financing round will be allocated towards the advancement of several key projects, including:

Valentine Gold Project in Newfoundland: A Game-Changer in Atlantic Canada

At the forefront of Calibre’s endeavors is the Valentine gold project, located in central Newfoundland. As the largest gold mine slated for Atlantic Canada, Valentine is projected to produce 195,000 ounces annually during its initial 12 years of operation, with production expected to commence in the first quarter of 2025. The project boasts estimated proven and probable reserves of 2.7 million ounces of gold, with additional measured, indicated, and inferred resources, highlighting its significant potential for long-term value generation.

El Limon and La Libertad Mines in Nicaragua: Established Gold Producers

Calibre’s foothold in Nicaragua includes the El Limon and La Libertad gold mines, which have collectively yielded over 5.4 million ounces of gold to date. These assets, wholly owned by Calibre, possess a combined probable reserve of 6.8 million ounces of gold, affirming their status as cornerstone assets within the company’s portfolio. The infusion of capital will further enhance operational efficiency and exploration efforts, maximizing returns from these established mining operations.

Pan Gold Mine in Nevada: Unlocking Exploration Potential

In Nevada, Calibre’s Pan gold mine represents a promising opportunity for expansion and exploration. Despite being the smallest of Calibre’s mines, Pan has demonstrated considerable potential, producing approximately 45,400 ounces of gold in 2022. With ample exploration targets identified both north and south of the existing operation, the mine offers significant upside potential. The funding secured by Calibre will facilitate exploration activities aimed at uncovering additional mineral resources, thereby driving future growth and value creation.

Strategic Allocation of Funds

Calibre Mining’s decision to allocate funds towards development, exploration, and general corporate purposes reflects a balanced approach aimed at maximizing shareholder value. By prioritizing projects with strong growth prospects and established reserves, the company is poised to capitalize on favorable market conditions and strengthen its position within the mining industry.

A Bold Step Towards Growth

Calibre Mining’s successful financing initiative marks a significant milestone in its journey towards expansion and diversification. With a robust portfolio of projects spanning multiple jurisdictions, the company is well-positioned to capitalize on rising gold prices and increasing demand for precious metals. By leveraging its expertise, operational excellence, and strategic vision, Calibre is poised to deliver sustainable value to its shareholders while contributing to the economic development of the regions in which it operates.

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