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B2Gold's (BTG) Goose Project Set for Mill Completion in 2025
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B2Gold Corp. (BTG - Free Report) announced that the Goose Project in Nunavut, Canada, is on track for mill completion in the first quarter of 2025. BTG is focusing on constructing camps, placing generators and building construction workshops.
The company updated that underground mining has reached 1,500 meters of horizontal development. The initial ventilation raise is expected to reach the surface soon.
The Goose Project has scheduled mine design with the intention of backfilling the crown pillar before the completion of the Umwelt open pit. This is projected to contribute 150,000 ounces of gold production to the life of the mine plan.
B2Gold increased its cost estimates for accelerating underground mining by C$90 million ($69 million). This will likely increase annual gold production over the first five years of the mine plan to more than 300,000 ounces per year.
B2Gold will undertake a build-up of working capital over the next 24 months in order to materially de-risk the execution of the production ramp-up phase.
Goose Project is located in BTG's 100% owned Back River Gold District in Canada. B2Gold acquired the Back River Gold District in April 2023 when it obtained Sabina Gold & Silver.
Price Performance
In the past year, B2Gold’s shares have lost 2.7% against the industry’s growth of 5%.
L.B. Foster has an average trailing four-quarter earnings surprise of 140.5%. The Zacks Consensus Estimate for FSTR’s fiscal 2023 earnings is pegged at 53 cents per share. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. Its shares have gained 5.4% in the last year.
Orla Mining has an average trailing four-quarter earnings surprise of 85.4%. The Zacks Consensus Estimate for ORLA’s 2023 earnings is pegged at 15 cents per share. The consensus estimate for 2023 earnings has moved 87.5% north over the past 60 days. ORLA’s shares have gained 30.9% in the last year.
The Zacks Consensus Estimate for Gold Fields’ fiscal 2023 earnings per share is pegged at $1.01. Earnings estimates have moved 6.3% north in the past 60 days. GFI’s shares have gained 49.4% in the past year.
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B2Gold's (BTG) Goose Project Set for Mill Completion in 2025
B2Gold Corp. (BTG - Free Report) announced that the Goose Project in Nunavut, Canada, is on track for mill completion in the first quarter of 2025. BTG is focusing on constructing camps, placing generators and building construction workshops.
The company updated that underground mining has reached 1,500 meters of horizontal development. The initial ventilation raise is expected to reach the surface soon.
The Goose Project has scheduled mine design with the intention of backfilling the crown pillar before the completion of the Umwelt open pit. This is projected to contribute 150,000 ounces of gold production to the life of the mine plan.
B2Gold increased its cost estimates for accelerating underground mining by C$90 million ($69 million). This will likely increase annual gold production over the first five years of the mine plan to more than 300,000 ounces per year.
B2Gold will undertake a build-up of working capital over the next 24 months in order to materially de-risk the execution of the production ramp-up phase.
Goose Project is located in BTG's 100% owned Back River Gold District in Canada. B2Gold acquired the Back River Gold District in April 2023 when it obtained Sabina Gold & Silver.
Price Performance
In the past year, B2Gold’s shares have lost 2.7% against the industry’s growth of 5%.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
B2Gold currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are L.B. Foster Company (FSTR - Free Report) , Orla Mining Ltd. (ORLA - Free Report) and Gold Fields Limited (GFI - Free Report) . FSTR and ORLA flaunt a Zacks Rank #1 (Strong Buy) at present, and GFI has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
L.B. Foster has an average trailing four-quarter earnings surprise of 140.5%. The Zacks Consensus Estimate for FSTR’s fiscal 2023 earnings is pegged at 53 cents per share. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. Its shares have gained 5.4% in the last year.
Orla Mining has an average trailing four-quarter earnings surprise of 85.4%. The Zacks Consensus Estimate for ORLA’s 2023 earnings is pegged at 15 cents per share. The consensus estimate for 2023 earnings has moved 87.5% north over the past 60 days. ORLA’s shares have gained 30.9% in the last year.
The Zacks Consensus Estimate for Gold Fields’ fiscal 2023 earnings per share is pegged at $1.01. Earnings estimates have moved 6.3% north in the past 60 days. GFI’s shares have gained 49.4% in the past year.