B2Gold Announces Positive Feasibility Study Results for the Gramalote Project

Core Insights - B2Gold Corp. announced positive results from the Feasibility Study (FS) on its Gramalote gold project in Colombia, indicating strong project economics with significant after-tax NPV and IRR at varying gold prices [1][5][14] Feasibility Study Highlights - The Gramalote Project has an initial life of mine of 11 years, with an average processed gold grade of 1.23 g/t over the first five years and a life of project average grade of 0.96 g/t [5][9] - Estimated gold production is approximately 2.3 million ounces, with an average annual production of 227,000 ounces in the first five years and 177,000 ounces over the life of the project [5][9] - The all-in sustaining costs (AISC) are projected at $985 per gold ounce over the life of the project [5][9] Economic Metrics - At a gold price of $2,500 per ounce, the after-tax NPV is $941 million with an IRR of 22.4%, and a payback period of 3.4 years [1][14] - At the current spot gold price of approximately $3,300 per ounce, the after-tax NPV increases to $1,716 million with an IRR of 33.5%, and a payback period of 2.4 years [1][14] Project Development and Community Support - The Gramalote Project benefits from strong local community and government support, which is crucial for its development [5][6] - The project has undergone extensive drilling and engineering studies, significantly reducing risks associated with future development [4][5] Construction and Capital Costs - The estimated construction capital cost for the project is $740 million, which includes costs for mining equipment and contingencies [5][11] - The project is designed to process up to 6.0 million tonnes per annum, with a mining operation capable of moving approximately 97,000 tonnes per day [7][9] Next Steps - B2Gold plans to advance resettlement programs and work on health, safety, and environmental projects while modifying the existing permits to reflect the new project scale [24][25] - The company anticipates that the permit modification process will take approximately 12 to 18 months [5][25]