07:07 AM EDT, 10/18/2024 (MT Newswires) -- Calibre Mining ( CXBMF ) on Friday said it sold 46,076 ounces of gold in the third quarter at a total cash cost of US$1,580 per ounce and all-in sustaining cost of US$1,946 per ounce.

The company said year-to-date Nicaragua production was affected by lower-than-budgeted ore deliveries from the new Volcan open pit.

Full-year production from Volcan is expected to be around 20,000 ounces below budget due to higher-than-expected historical artisanal mining activity, but ore tonnes and grade now alight with expectations.

The company revised downward its 2024 production guidance to 230,000 to 240,000 ounces. Full-year spend is expected to be in line with budget.

Total cash cost guidance was increased to US$1,300 to US$1,350 per ounce and all-in sustaining cost to US$1,550 to US$1,600 per ounce.

As of Sept. 30, construction at the Valentine gold mine in Canada is more than 81% completed.

Estimated initial project capital has increased and is now forecast to be about $744 million, resulting in a remaining cost to complete of $197 million.