12:04 PM EST, 01/08/2025 (MT Newswires) -- (Updates shares)

Calibre Mining ( CXBMF ) on Wednesday reported record gold production in the fourth quarter, which helped the company beat its full-year guidance.

The company produced 76,269 ounces of gold at its mines in Nicaragua and Nevada, pushing 2024 total output to 242,487 ounces. Calibre had forecast 2024 production at between 230,000 and 240,000 ounces.

For 2025, Calibre expects gold production in the range of 230,000 to 280,000 ounces with the Valentine gold mine in Newfoundland and Labrador starting production in the second quarter.

"With Valentine fully operational, Calibre transitions into a robust, multi-asset, diversified mid-tier gold producer," President and CEO Darren Hall said. "Valentine is poised to become a long-life, cornerstone asset in Canada, initially delivering approximately 200,000 ounces of gold annually with significant exploration upside."

Calibre shares were last seen up $0.23 to $2.44 on the Toronto Stock Exchange.

Price: 2.43, Change: +0.22, Percent Change: +9.95