11:57 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 align with expectations.

The company revised downward its 2024 production guidance to 230,000 to 240,000 ounces.

Total cash cost guidance was increased from 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 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.

Calibre's shares were last seen down $0.145 to $2.645 on the Toronto Stock Exchange.

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