Caliber Mining Corp (OTCMKTS:CXBMF) Stock Falls 11% in a Week: What’s The Buzz?

Caliber Mining Corp (OTCMKTS:CXBMF) is down 11% in a week. The company has announced its operational and financial results for the third quarter and nine months ending September 30, 2021.

Market Stats

On Wednesday, CXBMF stock  decreased marginally at $1.16 with more than 107k, compared to its average volume of 71k shares. The stock has moved within a range of $1.0894 – 1.1800 after opening the trade at $1.16.

Earnings Review

Gold production during the quarter was 44,579 pounces, with 44,579 gold ounces sales generating $79.2 million in revenue at $1,781 per gold ounce. In addition, the company reported a net income of $15 million or $0.04 per share. Calibre Mining delivered 843 tonnes per day of ore to the Libertad mill from Pavon Norte mine representing a 53% QoQ increase.

Also, during the quarter, Calibre Mining advanced the high-grade resource Eastern Borosi Project that includes reporting high-grade intercepts so far. It completed infill drilling and commenced discovery drilling and resource expansion. In addition, Calibre completed environmental baseline research as well as community engagement focusing on permittable products for submission in Q1 2022 for underground and open-pit operations. Therefore in the coming weeks, investors should keep an eye on CXBMF.

Key Quote

Darren Hall, President and Chief Executive Officer of Calibre, stated: “The Calibre team delivered another solid quarter of production demonstrating the quality and reliability of our assets as we continue to deliver strong operating cash flows by executing on our hub-and-spoke operating strategy. The ramp up at Pavon Norte exceeded expectations by achieving haulage rates of 1,000 tonnes per day from Pavon Norte to the Libertad mill, three months ahead of schedule. In addition, we recently commenced a multi-rig exploration drill program at Pavon Central where we see excellent potential to expand resources and make discoveries along this emerging district.

Traders Corner

CXBMF stock is trading below the 20-Day and 50-Day Moving averages of $1.23 and $1.20 respectively. Moreover, the stock is trading below 200-Day moving average of $1.37. The stock is up 12% in the past month.