B2Gold trims Goose output guidance, but reaffirms 2025 group forecast
Canadian gold miner B2Gold has lowered its 2025 output forecast for the Goose mine, in Nunavut, owing to crushing plant constraints, but reaffirmed its consolidated production guidance of 970 000 oz to 1.075-million ounces for the year.
The Goose mine, which achieved first gold on June 30, remains on track for commercial production in the coming weeks. However, the company now expects the operation to produce 80 000 oz to 110 000 oz this year, down from its original guidance of 120 000 oz to 150 000 oz. Output in the fourth quarter is expected to align with earlier estimates of about 70 000 oz.
B2Gold said supplemental mobile crushing capacity would allow the Goose mill to run at its 4 000 t/d design rate, while permanent circuit optimisations are being implemented. Longer-term guidance for Goose remains unchanged, with production forecast at about 250 000 oz in 2026 and averaging 300 000 oz/y for the first six years of operation.
At the Fekola complex, in Mali, production has continued to outperform expectations. Underground mining approvals were received in July, with initial stope ore grades reconciling positively against the resource model. Fekola is expected to deliver between 515 000 oz and 550 000 oz this year, in line with guidance, with underground output revised up to 30 000 oz to 40 000 oz. The Fekola Regional permit is expected before quarter-end, paving the way for first gold in early 2026.
In Namibia, Otjikoto has also exceeded expectations, prompting B2Gold to lift its 2025 guidance to 185 000 oz to 205 000 oz, from 165 000 oz to 185 000 oz. The company has approved development of the Antelope underground deposit, with first production targeted for 2027.
The Masbate mine, in the Philippines, continues to benefit from higher-than-expected throughput, leading to an upgraded guidance of 190 000 oz to 210 000 oz for 2025, compared with 170 000 oz to 190 000 oz previously.
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