Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
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https://www.calibremining.com/news/calibre-mining-announces-management-changes-2324/
Change at the top in Calibre - hopefully, this might allow a change in policy for toll milling from La India and unblock whatever has been stopping it from happening so far! The new guy is obviously a big fan of the hub and spoke strategy in Nicaragua..
"“The Board of Directors of Calibre is very pleased to welcome Darren Hall to his new role as President, CEO and Director of the Company. Darren is an experienced mining professional who was involved in the acquisition of Calibre’s Libertad and Limon gold mines in 2019. He is the originator of Calibre’s “Hub and Spoke” operating strategy which has resulted in a 30% increase in our forecast gold production in 2021 to 170,000 to 180,000 ozs. "
regards
T123
Tester , calibre success at bringing projects onstream ahead of schedule and under budget is why I doubt a toll deal will happen with them . If they manage to bring the rest of their projects forward ahead of schedule . I doubt they need or will have capacity by the time cnr are finally ready .when b2 were losing money producing ,cnr high grade ore was a lot more attractive than now with their costs reducing ,more high grade ore on the way and a much higher gold price .
Agree with neros synopsis of mine funding without all the land . It is quite possible that cnr are now expecting delays on that one so get on with drilling in the meantime in hope of increasing the value if a bid should appear .
Calibre, ouch!
Seingred - the processing figures for La Libertad in 2020 were as follows:
Libertad produced 71,451 ounces from 1.3M tonnes of ore processed at an average grade of 1.88 g/t Au and a 92.9% recovery rate. But Libertad actually has a max capacity of 2.2M tonnes per year.. So they have almost 1M tonnes of spare capacity there.. Their ave grade is 1.88g/t - La India ore would be 2-3x that grade, so much lower costs.. (currently AISC of over $1000 an oz at La Libertad).
So I wouldnt write off the economics of a deal just yet..
regards
T123
Some Friday afternoon musings. No particular axe to grind.
- Gold is dumping hard, where next I wonder?
- A high gold price is good for all goldies, but a low AISC is more important (and desirable) in a low gold price environment than a high price one.
- The new Calibre CEO may be interested in some kind of deal with Condor even if the outgoing CEO wasn't.
- But then again, he still sounds like part of the core team, so maybe no change.
- Calibre's short-term SP isn't looking too hot.
- Personally finding it hard to believe after all this time that a toll mining deal is still on the table.
- But surely there must be a way to make a deal that benefits both Calibre and ourselves, so long as no-one's too greedy.
- I can sell 75000 Condor shares at 47p (not that I'm going to). Unusual to be able to offload that much in one go.
Gold is under pressure because bond yields are rising, typical algo trade. Fundamentally yields have a LONG way to go before they are positive in real terms (after real inflation is accounted for) and central banks will step in and buy those bonds with their printed currency before they get too high (you might have heard them talking about "yield curve control" lately) so gold will continue to rise in the medium-long term.
Tester , lets hope so .
Calibre are ramping up pavon to 1000 tonnes pd this year .also
Looking to the future, I am excited about the 30% production growth we expect to deliver in 2021 as we commence first ore deliveries from our Pavon Norte open-pit mine this month. With strong cash flow generation, we will be reinvesting in the business through an increased exploration budget and development of our Panteon and Atravesada underground mines, which are expected to commence ore deliveries before the end of the third quarter of 2021 and 2022, respectively.
In addition, we have started the technical work and expect to commence drilling later this quarter at our now 100%-owned Eastern Borosi Project. While not included as part of our August 2020 multi-year outlook, I believe the Guapinol deposit represents the next opportunity for us to deploy our ‘hub-and- spoke’ operating philosophy to generate significant value for all stakeholders.”
Aisc also includes exploration costs which calibre are investing heavily in for the hub and spoke future . I just think the longer it goes the less incentive for calibre .
seingred totally agree ...calibre also said it processed 8k ounces of artisnal miners gold ...how much of that come from the buisnesses on la india????