Calibre Mining Corp. (OTC: CXBMF) Could Benefit From A Potentially New Global Currency

A potentially massive development in international finance is just weeks away.

This August, South Africa will host Brazil, Russia, India, China, and South Africa, otherwise known as BRICS, where a new gold-backed currency will be unveiled, with the potential to reshape global payments with sights set on de-dollarization. 

According to a tweet from Thorsten Polleit, chief economist at Degussa, “At first glance, a new transaction unit, backed by gold, sounds like good money – and it could be, first and foremost, a major challenge to the US dollar's hegemony.”

Not only could the proposed currency strengthen financial sovereignty, it could also help reduce overreliance on existing monetary systems, and provide another means of conducting global trade. Also, the fact that BRICS is considering gold should be enough of an incentive for central banks, and investors to accumulate gold. 

After all, if gold’s role as a global alternative currency is set to increase, so will its price. 

Any potential rise in the price of gold could provide a significant boost for gold exploration companies, such as Calibre Mining Corp. CXB CXBMF.

Calibre Mining Corp. CXB CXBMF is a promising Canadian-listed, Americas focused, growing mid-tier gold producer with a strong pipeline of development and exploration opportunities across Nevada and Washington in the USA, and Nicaragua. 

With a diverse portfolio of assets – including three operating mines in Nicaragua and Nevada – the company just delivered a record full-year gold production of 221,999 ounces in 2022 and projects for 20% production growth – to 250,000-275,000 ounces – in 2023. Calibre Mining Corp. also announced record consolidated quarterly gold production of 68,776 ounces, an increase of 15% year over year.

In addition, Calibre saw Nicaragua gold production of 58,392 ounces and Nevada gold production of 10,384 ounces. The company recorded consolidated YTD gold production of 134,526 ounces, which was an increase of 20% year over year.

Even better, the company announced assay results from the 2023, near-mine discovery, delineation, and resource expansion drill program at its 100% owned Pan Mine, located on the prolific Battle Mountain – Eureka gold trend, Nevada. 

Results at the Palomino target located immediately south of the open pit operation indicate higher grades than demonstrated at the Pan mine in the current Mineral Resource. The potential exists now to materially increase resource ounces, grade, and confidence south of the Pan mine. The Palomino deposit remains open to the southeast and at shallow depths. 

Calibre Mining has a Strong Portfolio of Producing Assets

In Western Nicaragua, the company as an extensive ongoing exploration program focused on resource expansion, infill and discovery. Currently Calibre has three rigs operating within the Limon mineral concessions testing on strike extensions. 

In Central Nicaragua, the La Libertad exploitation concession covers an area of 10,937.08 ha and was granted by Ministerial Decree for a 40-year term in 1994. The La Libertad processing plant can treat approximately 2.25 million tonnes per annum (tpa), and current gold recoveries are approximately 94% to 95% for a blend of spent ore and run of mine (ROM) ore. 

In Northwest Nicaragua, the Pavon property is located within the Natividad and Las Brisas exploration concessions totaling 31.5km located approximately 300 kms on paved highways from the Libertad processing facility. The Pavon project represents a newly emerging gold district in Nicaragua in a region that has remained largely underexplored by modern methods. 

In Northeastern Nicaragua, Calibre controls an undivided 100% interest in the Eastern Borosi Gold-Silver Property, located in the northeastern Nicaraguan low-sulphidation, epithermal district that hosts numerous high-grade, gold-silver vein systems.

In Nevada, the Pan Mine is a Carlin-style, open-pit, heap-leach mine in east-central Nevada, approximately 28 km southeast of the town of Eureka, on the prolific Battle-Mountain – Eureka gold trend. Previous operators spent approximately $1.5 million over the past four years on exploration, this presents a significant opportunity for Calibre to ramp up generative and regional exploration but also follow up on numerous targets surrounding the North and South pits that have limited drilling. 

Learn more about Calibre Mining here.

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This post was authored by an external contributor and does not represent Benzinga's opinions and has not been edited for content. This contains sponsored content and is for informational purposes only and not intended to be investing advice.