B2Gold Corp. (TSX:BTO) has released a revised life-of-mine plan for its Goose project in Nunavut, Canada, confirming its previous timeline and cost projections but reducing its high-confidence resource estimate. The update, which reflects a stricter resource model, led to a nearly 10% drop in B2Gold’s stock price this week.
The Goose project is B2Gold’s first development in the Back River gold district, an 80-kilometer belt containing 11 mineral claim blocks. The company expects to pour its first gold from the site in the second quarter of 2025, with commercial production ramping up in the following quarter.
According to the newly released technical report, the Goose project contains 11.3 million tonnes of gold reserves with an average grade of 6.82 grams per tonne (g/t), amounting to a total of 2.48 million ounces. This reserve base is projected to support nine years of continuous gold production, with an annual output of…
