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Saturday, Jun 15, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Gold

Calibre Mining added to VanEck Gold ETF

The VanEck Gold Miners ETF is a financial product designed to track the performance of companies involved in gold mining

Calibre Mining added to VanEck Gold ETF
Valentine Gold Property in February. Image via Calibre Mining.

Calibre Mining Corp. (TSX: CXB) (OTCQX: CXBMF) has been added to the VanEck Vectors Gold Miners ETF (NYSE: GDX).

The company announced its addition to fund on Monday, but it’s actually been trading on the GDX index since Friday.

The VanEck Gold Miners ETF is a financial product designed to track the performance of companies involved in gold mining. It provides investors with exposure to a basket of gold mining companies rather than investing directly in physical gold.

This inclusion typically occurs because the company meets certain criteria set by the ETF issuer, such as market capitalization, liquidity, and involvement in gold mining activities. Being added to the VanEck Gold Miners ETF can potentially increase the company’s visibility and attract more investors seeking exposure to the gold mining industry.

The recent addition to the ETF is a positive consequence of some of Calibre’s recent developments. Namely, last year’s acquisition of Marathon Gold, and it’s top tier Valentine Gold property in Newfoundland and Labrador.

The company also appointed Jason Cyr as vice president of operations for Canada and André Morneau as process manager for the Valentine Gold Mine in Newfoundland and Labrador.

Cyr brings over 20 years of experience in operations and project development within the mining industry. Before joining Calibre, he acted as the General Manager of Barrick Gold Corp’s (NYSE: GOLD) (TSX: ABX) Hemlo Operation and assumed significant leadership roles at SSR Mining Company’s (TSX: SSRM) (NASDAQ: SSRM) (ASX: SSR)  Seabee Gold Operation, Rio Grande Mining Company in Texas, USA, and Liberty Mines Inc. in Timmins, ON, Canada.

Read more: Calibre Mining walks in lockstep with World Gold Council’s responsible mining principles

Read more: Mineral reserves at Calibre Mining’s flagship Nicaragua asset grow by 36%

Both appointees bring over two decades of experience

Cyr’s achievements encompass overseeing the construction and operation of processing plants and mines through collaboration with various stakeholders. He earned a Diploma in Mining Engineering Tech from Haileybury School of Mines in Ontario.

“We continue to strengthen the team as we focus on operational readiness in preparation for first gold in H1 2025 at the Valentine Gold Mine,” said Darren Hall, president and CEO of Calibre.

“Having worked extensively in North America, Jason brings a wealth of leadership and operational expertise to the business. André’s extensive processing leadership roles will be invaluable in optimizing our plant operations. I look forward to the contributions of both Jason and André in their new roles.”

Additionally, Morneau is an experienced professional Chemical Engineer with over 25 years in the mining industry.

He has excelled in managing production, metallurgy, maintenance, and overall operations in iron, gold, lead, and copper mines and smelters throughout his career.

Known for his success in operations and budget management, project execution, and a strong focus on health, safety, and environmental compliance, Morneau has led teams, implemented change management initiatives, and achieved notable increases in production efficiency and gold recovery.

Before joining Calibre, Morneau functioned as the Manager of Concentrator and Surface Services at Nemaska Lithium and occupied senior leadership roles with extensive experience in gold mining, particularly in carbon-in-leach operations within Canada and West Africa. He earned a Bachelor of Chemical Engineering from the University of Sherbrooke, Quebec.

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 Calibre Mining is a sponsor of Mugglehead news coverage

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