WS Investor
15 Sep 2025, 20:28
B2Gold reaffirmed 2025 consolidated production guidance at 970k–1,075k oz. The Goose Mine (Nunavut) hit first pour June 30 and is nearing commercial production using supplemental mobile crushing; 2025 Goose guidance is trimmed to 80k–110k oz (Q4 ~70k oz), with longer-term forecasts unchanged (~250k oz in 2026; ~330k oz in 2027; ~300k oz/yr 2026–2031). Optimization studies (incl. flotation/concentrate leach and adding a SAG to lift capacity to ~6,000 tpd) are due late 2025.
Fekola (Mali) remains ahead of plan; underground stoping began after late-July approval and is now expected to contribute 30k–40k oz in 2025, with the complex still guided at 515k–550k oz (no 2025 output from Fekola Regional; first gold early 2026, ramping to ~180k oz/yr 2026–2030). Otjikoto (Namibia) guidance rises to 185k–205k oz and B2Gold approved the Antelope underground with reduced pre-prod capex (~$105M), targeting ~110k oz/yr over its life. Masbate (Philippines) guidance increases to 190k–210k oz on stronger throughput.
Fekola (Mali) remains ahead of plan; underground stoping began after late-July approval and is now expected to contribute 30k–40k oz in 2025, with the complex still guided at 515k–550k oz (no 2025 output from Fekola Regional; first gold early 2026, ramping to ~180k oz/yr 2026–2030). Otjikoto (Namibia) guidance rises to 185k–205k oz and B2Gold approved the Antelope underground with reduced pre-prod capex (~$105M), targeting ~110k oz/yr over its life. Masbate (Philippines) guidance increases to 190k–210k oz on stronger throughput.