B2Gold Lowers Q2 Gold Production Outlook at Goose Mine Following Fire

MT Newswires Live04-20

B2Gold (BTG) said late Sunday it now expects Q2 gold production at the Goose Mine of 18,000 to 20,000 ounces, compared with the prior estimate of 29,000 ounces, due to a fire in parts of the crushing circuit last Thursday.

The company said the fire caused no injuries and did not damage the mill or power facility. B2Gold expects gold production to continue in the near term, but at reduced levels due to lower throughput rates of crushed ore.

B2Gold said it has developed a preliminary processing plan for the quarter and expects repairs to be completed in Q3 at an estimated cost of about 10 million Canadian dollars ($7.3 million).

B2Gold said it plans to use mobile crushers to feed crushed ore to the fine ore stockpile and has sourced additional temporary crushing capacity that will be transported to the site in Q2.

The company expects the crushing circuit to reach an average capacity of about 3,200 tonnes per day by the end of Q3.

Shares of B2Gold were down more than 3% in Monday pre-bell activity.

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