Q4 2023 Calibre Mining Corp Earnings Call

Good day and thank you for standing by welcome to the call Reminding Corp, 2023, Q4, and full year financial earnings results Conference call. At this time all participants are in a listen only mode. After the speaker's presentation. There will be a question and answer session to ask a question during this.

Session, you will need a press star one on your telephone you will then hear an automated message advising you you're having just raised to withdraw your question. Please press star. One again. Please be advised today's conference is being recorded I would now like to hand, the conference over to your speaker today, Brian King. Please go ahead.

Okay.

Well. Thank you operator, good morning, everyone and thank you for taking the time to join the call. This morning.

Before we commence I'd like to direct everyone to the forward looking statements on slide two.

Our remarks and answers to your questions today may contain forward looking information about the company's future performance.

Although management believes that our forward looking statements are based on fair and reasonable assumptions actual results may turn out to be different from these forward looking statements.

For a complete discussion of the risks uncertainties and factors, which may lead to actual operating and financial results being different from the estimates contained in our forward looking statements.

Please refer to the Q4 and full year 2023 M DNA and consolidated financial statements available on our website.

As well as on SEDAR plus.

And finally, all figures are in U S dollars unless otherwise stated.

Present today with me on the call are Darren Hall, President and Chief Executive Officer.

David split senior Vice President and Chief Financial Officer.

And Tom Gallo Senior Vice President growth.

We will be providing comments on our fourth quarter and full year 2023 results after which we'll be happy to take questions.

The slide deck, we will be referencing is available on our website the caliber mining dot com under the events section you can also click on the webcast who joined the live presentation.

And with that I'll turn the call over to Darren.

Thanks, Ron moving to slide three good morning, and thank you for taking the time to join US today I would like to thank all caliber employees and business partners for their continued support.

Which resulted in the company's fourth consecutive record breaking year.

Over the past four years the company has responsibly with numerous successes since partnering with pizza goal to become a gold producer not.

At least a thing permitted and developed 40 year bonds, including central and Eastern Boise in 2023, all of which were funded through operating cash flow.

Delivered 28% year over year production growth, Brian reserves net of depletion 370%.

While building cash after investments from $4 million to $86 million.

I'm proud of the team is 2023 accomplishments, which included delivering record production of just over 293000 ounces, a 30% increase over 2022.

Maybe expectations on total cash and all in sustaining costs of 1071, and $12 28 per ounce respectively.

And continued exploration success across all assets, including the high grade expansion results, while in the meantime, Goldcorp newmont and announcing a maiden bulk con resource at Libertad.

Turning to slide four.

Our vision of caliber has always been to establish a quality mid tier gold producer, while generating strong operating cash flow to fund organic growth, while seeking attractive opportunities to diversify.

We have consistently delivered into this vision and 2024 is anticipated to be another year of organic growth.

With 275 to 300000 ounces of production.

Turning to 2024 screen prior to the marathon acquisition was budgeted to be similar to 2023, which generated over $550 million in revenue and $200 million in cash from operations.

Earlier this quarter, we completed the acquisition of the Valentine Goldmine.

Atlanta Labrador.

This transformational transaction will establish calibers equality mid tier gold producer in the Americas and provide a compelling rewrite opportunity for shareholders.

Welcome to the Ballantyne team to caliber and acknowledge the support we've seen from all stakeholders in development.

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The rationale for the acquisition as clear as it is compelling.

Ballantyne is it technically robust long life low cost mine.

Top mining jurisdiction.

<unk> has significant exploration upside.

The property boasts a robust mineral endowment with production anticipated in the first half of 2025, which will result in approximately 60% for TV.

<unk> from North America.

After the last three weeks on site and spending time with all stakeholders in central Newfoundland.

I'm encouraged by the overwhelming support and commitment to ensure the minus the success.

The construction team remains focused on the bill and with overall progress at 54%. The schedule is on track for production in <unk> 2025.

Sag and ball mill markets will arrive in the Newfoundland to die and the mills are on the water contributed to arrive before the end of February.

We are currently working through a fulsome review of all aspects of the project, including a re space wanting if the schedule and costs in anticipation of providing an update in Q2.

At this time I see no red flags.

A project of this magnitude midway through construction and Theres lots of wood to chop, but I remain confident that we remain on target for first gold in H, one 2020 car.

While we have a coal mining team we've commenced preparing for commercial operations center accelerating recruitment.

In support of operational readiness.

Ward for pre commissioning commissioning and startup is a big issue and contract execution is expected within the next one.

And particular focus since the transaction has been to ensure our responsibility to clear Accountabilities are established and authorities are delegated to ensure the entire team is aligned on delivering valentines for potential <unk>.

<unk> construction and prepare for operations.

Given calibers track record of delivering on commitments balanced one complements our portfolio of existing operations, bringing to market near term.

<unk> production growth.

Moving to slide five.

Over 9000 meters of closely space all control drilling has been completed at the electric one open pit.

Which substantiated the mineral reserve and further Derisked the project as we advance towards gold production.

The result, resulting grade control model indicated an increase in ore tons or 15% and ounces.

<unk> percent within the initial benches.

The drilling also confirmed in pig Goldman mineralization previously modeled as <unk>, which at all times not included in the 2020 to feasibility study.

Additionally, high grade mineralization was discovered on the southwest edge of the pit.

Highlighting strong exploration export expansion potential given the limited drilling along the shoes and towards Frank.

Results recent released frankly, located one kilometer to the southwest of Leprechaun intercepted noteworthy results pointing to the potential for another deposit.

We commenced a diamond drilling program this week to test the opportunity.

Turning to slide six.

This is a transformational time for caliber as we establish ourselves as a quality mid tier gold producer by bringing Atlantic candidates largest gold mine into production.

Building on that 2023 successes, we anticipate numerous catalysts throughout 2024, including results from our 130000 meter drill program and construction and development updates from Berlin time.

As Cabela's caliber remains on track to deliver significant value for all <unk>.

Stakeholders I'm looking forward to another exciting year.

With that we're happy to take questions and I'll pass it back to the operator.

Thank you.

You have a question at this time, please press star one on your telephone and wait for your name to be announced not withdraw. Your question. Please press star one again please.

Please standby, while we compile our Q&A roster.

And I'm showing no questions at this time and I would like to turn the conference back over to Darren <unk>, President and CEO for any further remarks.

Mr Hall is your phone muted.

Back to you operator.

Thank you. This does conclude today's conference call. Thank you for participating and you all may disconnect.

Okay.

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