Calibre’s Valentine project’s costs rise, FY guidance downgraded

Construction of the multi-million-ounce Valentine gold mine, in Newfoundland and Labrador, is progressing well, reaching nearly 81% completion by the end of last month, TSX-listed Calibre Mining president and CEO Darren Hall reported on Friday.

However, he also said that cost pressures had emerged, mainly owing to contractor performance that resulted in increased manpower and associated costs.