B2Gold Confirms Total 2025 Production Outlook Despite Goose Mine Cut

Core Insights - B2Gold Corp (BTG) is nearing the completion of project commissioning activities at the Goose Mine, aiming for commercial production in the upcoming weeks despite limited crushing plant capacity [1] - The Fekola Mine has exceeded budgeted gold production levels in the first half of 2025, with underground operations approved and ore production commenced [2] - The Otjikoto Mine and Masbate Mine have surpassed expectations in the third quarter of 2025 [3] Production Updates - The Antelope underground deposit development at the Otjikoto Mine has been approved, with pre-production capital costs reduced from $129 million to $105 million [4] - The 2025 gold production outlook for the Goose Mine has been trimmed to 80,000-110,000 ounces due to crushing plant capacity issues, with fourth-quarter production still expected at 70,000 ounces [5] - B2Gold anticipates gold production of 250,000 ounces in 2026 and 330,000 ounces in 2027, with the Goose Project expected to produce 300,000 ounces annually for the first six years [6] Fekola Complex Performance - The Fekola Complex is expected to produce 515,000 to 550,000 ounces of gold in 2025, with underground production projected at 30,000 to 40,000 ounces, an increase from previous estimates [7] - Open-pit mining activities at Fekola and Cardinal are anticipated to generate 485,000 to 510,000 ounces of gold in 2025 [7] Otjikoto and Masbate Mines - The Otjikoto Mine's production forecast has been raised to 185,000 to 205,000 ounces for 2025, while the Masbate Mine is expected to produce between 190,000 and 210,000 ounces [8] - B2Gold's total annual gold production for 2025 is projected to be between 970,000 and 1,075,000 ounces [8] Stock Performance - B2Gold's shares have increased by 37.7% over the past year, compared to a 73% rise in the industry [9]