11:02 AM EDT, 04/09/2024 (MT Newswires) -- National Bank of Canada said Tuesday that Calibre Mining Corp.'s ( CXBMF ) first-quarter production of 61,800 ounces aligned with the bank's forecast of 63,300 ounces.

The bank said Calibre's production is weighted to the second half as expected per the company's guidance, with additional organic high-grade mineralization teed up, including potential contributions from the Volcan zone.

National noted Calibre will provide an update for its Valentine project following the release of its first-quarter financials on May 14.

The bank gave Calibre a sector perform rating and a $2.50 price target.

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