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Friday, May 24, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Mining

Calibre Mining honoured for outstanding safety practices at Valentine gold mine

The John T. Ryan National Safety Trophy for Select Mines was presented by the Canadian Institute for Mining, Metallurgy and Petroleum

Calibre Mining awarded for outstanding safety practices at Newfoundland's Valentine gold mine
Recent construction underway at the Valentine gold project. Photo: Calibre Mining

Calibre Mining Corp (TSX: CXB) (OTCQX: CXBMF) was recognized this week for exemplary safety at Newfoundland’s Valentine gold operation throughout last year. The company reported zero injuries.

The Canadian Institute for Mining, Metallurgy and Petroleum (CIM) just presented Calibre with its 2023 John T. Ryan National Safety Trophy for Select Mines. It is given to companies that help improve the mining industry’s safety record.

The CIM is a leading non-profit technical society dedicated to the domestic minerals and materials industries. Ryan, who passed away in 1941, is known for his instrumental role in establishing coal mine safety practices during the early 20th century.

“Well done!” Calibre President Darren Hall said. “Achieving zero injuries requires a comprehensive approach that encompasses stringent safety protocols, training programs and constant vigilance.”

Mosaic Co. (NYSE: MOS), which was honoured for safety at its Belle Plaine potash mine in Saskatchewan; and the North American Construction Group, recognized for outstanding safety practices at its Syncrude Aurora mine in Alberta, were the other recipients.

Read more: Calibre Mining pulls high value gold and silver in Nicaragua

Read more: Calibre Mining remains on track to deliver on its 2024 guidance of between 275-300K ounces

Calibre to provide update on Valentine

The gold producer will host a conference call on May 15 to discuss its ongoing progress in Newfoundland and first-quarter financial results. Initial gold production at Valentine is expected before July next year.

Once that has been achieved, the mine will produce about 195,000 gold ounces annually for 12 years. It will employ over 500 people.

Calibre expects to generate between 275,000 to 300,000 ounces this year from its producing assets in Nicaragua and Nevada. About C$27.5 million will be spent on exploration throughout 2024.

The company closed a C$115 million private placement last month to help fund its activities. As of April, Calibre had a cash balance of C$86 million.

 

Calibre Mining is a sponsor of Mugglehead news coverage 

 

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