Followers | 63 |
Posts | 8502 |
Boards Moderated | 0 |
Alias Born | 01/10/2014 |
Tuesday, January 28, 2020 2:54:04 PM
B2Gold Corp BTG reported positive results from the updated Preliminary Economic Assessment (PEA) for the Gramalote Ridge Project. This Colombia-based Gramalote project is a joint venture between B2Gold and AngloGold Ashanti Ltd. AU.
The PEA was conducted to evaluate Gramalote’s potential for recovery of gold from an open-pit mining operation that will move up to 143,000 tons per day (tpd), with a 30,137 tpd processing plant. The PEA is primarily based on production from the Gramalote Ridge deposit. Per the PEA, the Mineral Resource estimate for Gramalote Ridge includes Indicated Mineral Resources of 70,110,000 tons grading 0.92 g/t (gold grade) for a total of 2,070,000 ounces of gold and Inferred Mineral Resources of 79,030,000 tons grading 0.79 g/t gold for a total gold of 2,010,000 ounces.
Additional drilling at Gramalote Ridge is complete and a new Mineral Resource model has been developed. The updated Mineral Resource has facilitated efficient mine optimization, while significantly improving project economics by utilizing high-quality ore. The overall gold grade for the PEA stands at 0.85 g/t, which is significantly higher than previous studies on the project.
B2Gold expects Gramalote has the potential to become a large, low-cost open-pit gold mine, subject to completion of the ongoing infill drilling. Results of a final feasibility study expected to be completed by the end of this year. The project has some key infrastructure advantages, including reliable water supply as it is situated in a high rainfall region. It also adjacent to a national highway which connects to a major river with port facilities. The project is also close to the national electricity grid with low-cost power and skilled labor within Colombia.
Moreover, Gramalote is expected to benefit from few major operational advantages like metallurgical characteristics of the ore, resulting in high recovery rates at low processing costs, relatively low strip ratio in the mine and ability to process higher grade ore in the initial years of the mine life with improved project economics.
B2Gold and AngloGold have agreed to a budget of up to $37 million for the feasibility study on the Gramalote Project through the end of 2020. B2Gold is currently completing 42,500 metres of infill drilling at Gramalote Ridge, in order to convert the existing Inferred Mineral Resources to the Indicated category, as well as 7,645 metres of geotechnical drilling for site infrastructure. B2Gold currently expects to complete the entire drilling process by the end of this May.
B2Gold and AngloGold have agreed to amend the shareholding percentage and management structure of their Gramalote gold JV project. B2Gold will solely fund the project expenditures of $13.9 million to raise its ownership to 50% from its current rate of 48.3% and assume the position of manager of the Gramalote JV Project. Each company will now own half of the project.
Backed by solid gold production in 2019 and rising gold prices, the company has issued gold production guidance between 1,000,000 ounces and 1,055,000 ounces for 2020. The current-year consolidated cash costs are also expected to be lower than 2019. For 2020, B2Gold expects to generate cashflows from operating activities of roughly $700 million factoring a gold price of $1,500 per ounce.
The company will continue to focus on maximizing profitable production from its mines, expansion of the Fekola Mine throughput, and exploration and development of the existing projects while reducing debt levels.
Share Price Performance
In the past six months, shares of B2Gold have appreciated 30.4%, outperforming the Zacks Investment Research
https://www.barchart.com/story/stocks/quotes/BTG/overview/4264256/b2gold-reports-upbeat-results-for-gramalote-jv-eyes-growth
“Believing in negative thoughts is the single greatest obstruction to success.”
Charles F. Glassman
Statements made are only my opinion. Do your own DD in order to make your own investment decisions.
Recent BTG News
- B2Gold First Quarter 2024 Financial Results – Conference Call Details • GlobeNewswire Inc. • 04/15/2024 09:30:01 PM
- B2Gold Files Form 40-F and Supporting Documentation • GlobeNewswire Inc. • 03/15/2024 02:00:42 AM
- B2Gold Reports Strong Q4 and Full Year 2023 Results; Achieved 2023 Total Gold Production and Consolidated Cost Guidance; Q1 2024 Dividend of US$0.04 per Share Declared • GlobeNewswire Inc. • 02/21/2024 10:59:19 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/16/2024 11:02:00 AM
- B2Gold Reports Three Fatalities from Off-Site Incident in Mali • GlobeNewswire Inc. • 02/16/2024 05:36:59 AM
- B2Gold Fourth Quarter and Full Year 2023 Financial Results – Conference Call Details • GlobeNewswire Inc. • 02/14/2024 01:00:59 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/31/2024 03:54:34 PM
- B2Gold Announces Positive Exploration Drilling Results from the Antelope Deposit at the Otjikoto Mine in Namibia, Highlighting the Potential to Expand Underground Gold Production through the Early 2030’s • GlobeNewswire Inc. • 01/31/2024 01:00:25 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 01/24/2024 03:06:29 PM
- B2Gold Announces Total Gold Production for Q4 2023 of 288,665 oz; Total Gold Production for 2023 of 1,061,060 oz, Achieving Upper Half of 2023 Guidance; 2024 Guidance, Preliminary 2025 Production Outlook and Gold Prepay Arrangement • GlobeNewswire Inc. • 01/24/2024 01:00:16 AM
- B2Gold Declares Fourth Quarter 2023 Dividend of $0.04 per Share • GlobeNewswire Inc. • 11/22/2023 10:30:10 PM
- B2Gold Announces Positive Exploration Drilling Results from its Inaugural Drilling Campaign at the Back River Gold District in Nunavut and Provides an Update on Construction and Mining at the Goose Project • GlobeNewswire Inc. • 11/22/2023 12:10:56 AM
- B2Gold Reports Q3 2023 Results; 2023 Total Gold Production Guidance Reiterated; Full-Year Cash Operating Costs Forecast to be Below Guidance Range and Full-Year All-In Sustaining Costs Forecast to be at the Low End of Guidance Range • GlobeNewswire Inc. • 11/08/2023 11:45:36 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 10/12/2023 09:19:06 PM
- B2Gold Third Quarter 2023 Financial Results – Conference Call Details • GlobeNewswire Inc. • 10/12/2023 09:00:52 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/18/2023 03:44:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/18/2023 03:33:12 PM
- B2Gold Provides Construction Update for the Goose Project in Nunavut, Canada; Construction on Budget and on Track to Pour First Gold in Q1 2025 • GlobeNewswire Inc. • 09/18/2023 11:00:36 AM
- B2Gold to Consolidate Gramalote Project by Acquiring AngloGold Ashanti’s 50% Stake • GlobeNewswire Inc. • 09/18/2023 07:05:05 AM
- B2Gold Declares Third Quarter 2023 Dividend of $0.04 per Share • GlobeNewswire Inc. • 09/05/2023 09:30:00 PM
- Form F-3D - Registration of securities pursuant to dividend or interest reinvestment plans • Edgar (US Regulatory) • 09/01/2023 06:06:50 PM
- Form RW - Registration Withdrawal Request • Edgar (US Regulatory) • 08/31/2023 07:20:01 PM
- B2Gold Announces Dividend Reinvestment Plan • GlobeNewswire Inc. • 08/28/2023 09:40:05 PM
- Form F-3 - Registration statement by foreign private issuers • Edgar (US Regulatory) • 08/28/2023 09:19:39 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 08/03/2023 08:48:41 PM
Bantec Reports an Over 50 Percent Increase in Sales and Profits in Q1 2024 from Q1 2023 • BANT • Apr 25, 2024 10:00 AM
Cannabix's Breath Logix Alcohol Device Delivers Positive Impact to Private Monitoring Agency in Montana, USA • BLO • Apr 25, 2024 8:52 AM
Kona Gold Beverages, Inc. Announces Name Change to NuVibe, Inc. and Initiation of Ticker Symbol Application Process • KGKG • Apr 25, 2024 8:30 AM
Axis Technologies Group and Carbonis Forge Ahead with New Digital Carbon Credit Technology • AXTG • Apr 24, 2024 3:00 AM
North Bay Resources Announces Successful Equipment Test at Bishop Gold Mill, Inyo County, California • NBRI • Apr 23, 2024 9:41 AM
Epazz, Inc.: CryObo, Inc. solar Bitcoin operations will issue tokens • EPAZ • Apr 23, 2024 9:20 AM