Calibre Mining Management

Management criteria checks 3/4

Calibre Mining's CEO is Darren Hall, appointed in Feb 2021, has a tenure of 3.75 years. total yearly compensation is $2.15M, comprised of 19.3% salary and 80.7% bonuses, including company stock and options. directly owns 0.32% of the company’s shares, worth €4.55M. The average tenure of the management team and the board of directors is 3.8 years and 5.1 years respectively.

Key information

Darren Hall

Chief executive officer

US$2.1m

Total compensation

CEO salary percentage	19.3%
CEO tenure	3.8yrs
CEO ownership	0.3%
Management average tenure	3.8yrs
Board average tenure	5.1yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Darren Hall's remuneration changed compared to Calibre Mining's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$30m
Jun 30 2024	n/a	n/a	US$53m
Mar 31 2024	n/a	n/a	US$65m
Dec 31 2023	US$2m	US$415k	US$85m
Sep 30 2023	n/a	n/a	US$88m
Jun 30 2023	n/a	n/a	US$66m
Mar 31 2023	n/a	n/a	US$48m
Dec 31 2022	US$2m	US$304k	US$43m
Sep 30 2022	n/a	n/a	US$43m
Jun 30 2022	n/a	n/a	US$57m
Mar 31 2022	n/a	n/a	US$53m
Dec 31 2021	US$2m	US$301k	US$58m
Sep 30 2021	n/a	n/a	US$67m
Jun 30 2021	n/a	n/a	US$85m
Mar 31 2021	n/a	n/a	US$67m
Dec 31 2020	US$989k	US$220k	US$63m
Sep 30 2020	n/a	n/a	US$43m
Jun 30 2020	n/a	n/a	US$9m
Mar 31 2020	n/a	n/a	US$14m
Dec 31 2019	US$862k	US$92k	US$920k

Compensation vs Market: Darren's total compensation ($USD2.15M) is about average for companies of similar size in the German market ($USD1.66M).

Compensation vs Earnings: Darren's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Darren Hall (58 yo)

3.8yrs

Tenure

US$2,147,683

Compensation

Mr. Darren Hall serves as President, Chief Executive Officer and Director at Calibre Mining Corporation since February 26, 2021 and served as Senior Vice President and Chief Operating Officer since October...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Darren Hall	President	3.8yrs	US$2.15m	0.32% € 4.5m
Ryan King	Senior Vice President of Corporate Development & Investor Relations	5.8yrs	US$962.37k	0.084% € 1.2m
Thomas Gallo	Senior Vice President of Strategy & Growth	3.1yrs	US$849.40k	0.031% € 440.7k
David Hendriks	Senior VP of Nicaraguan Operations	1.8yrs	US$849.40k	0.016% € 223.0k
Daniella Dimitrov	Senior VP & CFO	less than a year	no data	0.0080% € 113.5k
David Schummer	Senior VP & Chief Operating Officer	less than a year	no data	no data
William Patterson	Vice President of Technical Services	5.2yrs	US$691.06k	no data
Jason Gregg	Senior Vice President of Human Capital	5yrs	US$636.80k	0.054% € 762.2k
Mark Petersen	Vice President of Exploration	4.9yrs	no data	no data
Petri Salopera	Senior Vice President of Sustainability	3.4yrs	US$734.25k	0.030% € 423.5k
Kristian Dagsaan	Company Secretary	9.3yrs	US$257.21k	0.016% € 220.6k
Kevin Riley	VP of Nevada Operations	no data	no data	0.0038% € 54.2k

3.8yrs

Average Tenure

48.5yo

Average Age

Experienced Management: WCLA's management team is considered experienced (3.8 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Darren Hall	President	3.8yrs	US$2.15m	0.32% € 4.5m
Douglas Forster	Independent Lead Director	20.9yrs	US$200.17k	0.38% € 5.3m
Blayne Johnson	Independent Chairman of the Board	19.5yrs	US$219.04k	0.52% € 7.4m
Edward Farrauto	Independent Director	19.5yrs	US$148.54k	0.15% € 2.2m
John Reynolds	Member of Strategic Advisory Board	6yrs	US$47.50k	no data
Michael Vint	Independent Director	3.4yrs	US$133.45k	0.025% € 348.3k
Audra Walsh	Independent Director	5.1yrs	US$139.11k	0.059% € 839.7k
Leslie Coe	Member of Strategic Advisory Board	5.1yrs	no data	no data
Steve Jensen	Member of Strategic Advisory Board	no data	no data	no data
Paula Caldwell St-Onge	Director	less than a year	no data	no data
Omaya Elguindi	Independent Director	less than a year	no data	0.11% € 1.6m
Sian Tasaka	Director	less than a year	no data	no data

5.1yrs

Average Tenure

65yo

Average Age

Experienced Board: WCLA's board of directors are considered experienced (5.1 years average tenure).

Calibre Mining Management

Management criteria checks 3/4

Key information

Recent management updates

Calibre Mining Corp. Announces the Appointment of David Schummer as Senior Vice President and Chief Operating Officer

Calibre Mining Corp. Appoints Sian Tasaka to the Board of Directors

High number of new directors

Calibre Mining Corp. Appoints Paula Caldwell St-Onge to the Board of Directors

Calibre Mining Corp. Appoints Daniella Dimitrov as Chief Financial Officer, Effective June 25, 2024

Calibre Mining Corp. Approves Appointment of Omaya Elguindi as Director

Recent updates

New major risk - Earnings quality

Third quarter 2024 earnings released: EPS: US$0.001 (vs US$0.051 in 3Q 2023)

Calibre Mining Corp. Updates Consolidated Production Guidance for the Full Year 2024

Calibre Mining Corp. Announces the Appointment of David Schummer as Senior Vice President and Chief Operating Officer

Investor sentiment improves as stock rises 20%

Now 31% overvalued after recent price rise

Calibre Mining Corp Announces Drill Results from the 2024 Exploration Program Within the Limon Mine Complex, in Nicaragua

Calibre Mining Corp. Announces Partial Ore Control Reverse Circulation Infill Drill Results from the Marathon Pit

Calibre Mining Corp. Announces Additional, Near Surface, Resource Expansion Drill Results from Its Exploration Programs At the Pan Heap Leach Gold Mine

Investor sentiment improves as stock rises 16%

Calibre Mining Corp. Continues to Intercept High-Grade Gold Mineralization At Its Eastern Borosi Mine Complex

New minor risk - Profit margin trend

Now 23% overvalued

Calibre Mining Corp. Appoints Sian Tasaka to the Board of Directors

Calibre Mining Corp. to Commence an Expanded 100,000 Metre Resource Expansion and Discovery Drill Program Across Its Flagship Valentine Gold Mine Property

Calibre Mining Corp. to Report Q2, 2024 Results on Aug 12, 2024

Calibre Mining Corp. Receives Environmental Approval for Development and Operation of the Volcan Gold Deposit located in the Libertad Mine Complex

High number of new directors

Calibre Mining Corp. Appoints Paula Caldwell St-Onge to the Board of Directors

Calibre Mining Corp. Appoints Daniella Dimitrov as Chief Financial Officer, Effective June 25, 2024

Calibre Mining Corp. Approves Appointment of Omaya Elguindi as Director

Calibre Continues to Discover Additional Gold Mineralization At the Valentine Gold Mine Demonstrating Upside Potential

Calibre Mining Corp. Announces Resignation of David Splett as Chief Financial Officer, Effective July 31, 2024

First quarter 2024 earnings released: US$0.006 loss per share (vs US$0.036 profit in 1Q 2023)

Calibre Mining Corp. has completed a Follow-on Equity Offering in the amount of CAD 100.128 million.

Calibre Mining Corp. Announce Drill Results from its 2023 Resource Conversion and Expansion Program at its Eastern Borosi Mine Complex

Calibre Mining Corp. to Report Q1, 2024 Results on May 14, 2024

Calibre Mining Corp. Announces 2024 Exploration Program and Review of the Exploration Potential At the Valentine Gold Mine

Calibre Mining Corp., Annual General Meeting, Jun 12, 2024

Calibre Mining Corp. has filed a Follow-on Equity Offering in the amount of CAD 100.128 million.

Calibre Mining Corp. has filed a Follow-on Equity Offering in the amount of CAD 100.128 million.

Calibre Mining Corp. Announces Stepped Down of Matthew Manson as Director

Investor sentiment improves as stock rises 19%

Calibre Mining Corp. Announces Drill Results from Its 2023 Exploration and Infill Drill Program At the Volcan Gold Deposit

Full year 2023 earnings released: EPS: US$0.19 (vs US$0.097 in FY 2022)

Calibre's Ore Control Drilling Intersects High-Grade Gold Outside of Reported Mineral Reserves Adding Additional Tonnes At the Valentine Gold Mine, Canada

Calibre Mining Corp. Reports Positive Drill Results One Kilometre Southwest of Valentine Gold Mine Resources

Calibre Mining Corp. Continues to Intercept Bonanza Grade Drill Results Along the Multi-Kilometre Panteon Vtem Gold Corridor At the Limon Mine Complex

New major risk - Shareholder dilution

Calibre Mining Corp. (TSX:CXB) completed the acquisition of remaining 85.8% stake in Marathon Gold Corporation (TSX:MOZ).

Calibre Mining Corp. to Report Q4, 2023 Results on Feb 20, 2024

Calibre Mining Corp. Provides Consolidated Production and Sales Guidance for the Year 2024

New major risk - Revenue and earnings growth

Calibre Mining Corp. (TSX:CXB) entered into a definitive arrangement agreement to acquire Marathon Gold Corporation (TSX:MOZ) for approximately CAD 340 million.

Third quarter 2023 earnings released: EPS: US$0.051 (vs US$0.004 in 3Q 2022)

Calibre Mining Corp. Provides Consolidated Production Guidance for the Full Year 2023

Calibre Intercepts High-Grade Gold Below the Jabali Mine and Resource and Identifies Three Additional Gold Targets All Within 10 Km of the Libertad Mill

New minor risk - Shareholder dilution

Investor sentiment improves as stock rises 22%

President recently bought €65k worth of stock

Calibre Mining Corp. Delineates Another New Open Pit Gold Deposit Located 5 Km from the Libertad Mill

Calibre Mining Corp. Announces Results from Its Resource Expansion and Infill Drilling Program At the High-Grade Atravesada Underground Deposit Located Within the Limon Mine Complex

Independent Director recently sold €252k worth of stock

Calibre Mining Corp. to Report Q3, 2023 Results on Nov 07, 2023

Second quarter 2023 earnings released: EPS: US$0.073 (vs US$0.034 in 2Q 2022)

Calibre Mining Corp. Reports Additional Near Surface, Resource Expansion, Drill Results At Its Pan Gold Mine in Nevada

Calibre Mining Corp.'S 2023 Exploration Drill Program Along the Panteon Vtem Corridor Yields Multiple New Exciting High-Grade Discoveries in Untapped Regions; Additional Drilling Intersects 15.64 G/T Gold over 2.5 Metres and 31.30 G/T Gold over 1.4 Metres

Investor sentiment improves as stock rises 16%

Calibre Mining Corp. Provides Production Guidance for the Full Year 2023

Calibre Mining Corp. Reports Positive Higher-Grade Near Surface Drilling at its Pan Gold Mine, Nevada

Calibre Mining Corp. to Report Q2, 2023 Results on Aug 09, 2023

Calibre Mining Corp. Commences Ore Deliveries from Eastern Borosi Open Pit Mine to Libertad Mill

Calibre Reports High-Grade Drill Results from its Talavera Deposit Within the Limon Mine Complex; Initial Results Include 15.46 g/t Gold over 6.7 Metres and 10.58 g/t Gold over 7.9 Metres

Calibre Mining Corp. Announces Initial High-Grade Drill Results At Its Eastern Borosi Mine Complex

First quarter 2023 earnings released: EPS: US$0.036 (vs US$0.026 in 1Q 2022)

Investor sentiment improves as stock rises 18%

Full year 2022 earnings released: EPS: US$0.097 (vs US$0.17 in FY 2021)

Calibre Mining Corp. Announces Results of its Updated Mineral Resources and Mineral Reserves for its Nicaragua and Nevada Properties as of December 31, 2022

Calibre Mining Corp. Outlines 2023 Multi-Rig Gold Discovery and Resource Expansion Drill Programs in Nevada and Nicaragua