Calibre Mining (TSX: CXB) has obtained approval to expand the Valentine Gold Mine from Canada’s federal government, despite the project not yet being in production. The company has seen the government approve the environmental assessment for the Berry Deposit, which will be the third open pit at the project.
“With this approval and the recent issuance of Provincial mining and surface leases for Berry and associated infrastructure, we now have the major approvals required for the three-pit mine plan included in the 2022 Feasibility Study,” commented Darren Hall, CEO of Calibre Mining.
The Valentine Gold project is currently 77% completed, with engineering said to be sitting at 98% complete. The company is currently estimating that it will delivery its first gold in the second quarter of 2025.
The project is slated to be Atlantic Canada’s largest open pit mine, with the feasibility study outlining an operation that will produce 195,000 ounces of gold per year at an all in sustaining cost of $1,007 per ounce.
Calibre Mining last traded at $2.05 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
