Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (154682)	6/25/2023 4:14:00 AM
From: Goose94	Read Replies (2) \| Respond to of 202706

B2Gold (BTO-T) Goose mine in the Back River area of Nunavut "remains on schedule for mill completion" in the first quarter of 2025. The project is now expected to cost $800-million, "in line with B2Gold expectations," says Mr. Johnson, although he quickly goes on to add another $90-million to the tab to cover accelerated underground mining. That brings the bill to $890-million, handily above the $610-million estimate that Sabina Gold & Silver Corp. touted at feasibility in 2021, and above the $740-million estimate that Sabina last promoted prior to B2Gold's acquisition of Sabina two months ago. Mr. Johnson and his crew took that latter estimate, pared away $70-million in savings they thought they could achieve, then added $130-million to cover "additional equipment, steel and tankage," as well as inflationary pressures on the cost of fuel and consumables. And so, although $340-million has already been spent, B2Gold is still looking at a $550-million tab to complete the build. The mine, according to the feasibility study, is to run at 3,000 tonnes per day as a combined open-pit and underground operation, although an expansion to 4,000 tonnes per day is contemplated. The reserve, 18.7 million tonnes grading nearly six grams of gold per tonne diluted -- about 3.59 million ounces -- is sufficient to support a 15-year operation and good enough for an internal rate of 27.7 per cent after taxes. Business Reporter