“B2Gold remains a supportive shareholder of Calibre and does not currently plan to make any additional changes to its interest,” the company said in a release. “Investment considerations including price, market conditions, capital allocation priorities and corporate strategy” influenced the decision, it said.
Calibre is developing the Valentine gold project in Newfoundland, produces 45,000 oz. a year in Nevada and operates the Limon Norte open-pit mine complex about 120 km north of Nicaragua’s capital, Managua. The company has maintained this year’s output guidance of 275,000-300,000 oz. even after a partial wall collapse at Limon weakened production this month.
Shares in Calibre Mining fell nearly 4% on Friday morning to C$1.79 apiece in Toronto, valuing the company at C$1.4 billion. They’ve traded in a 52-week range of C$1.16 to C$2.34.
Gramalote
Vancouver-based B2Gold said this week its Gramalote gold project in…
