B2Gold: Study Suggests Longer Mine Life At El Limon
B2Gold Corp.(TSX: BTO, NYSE American: BTG, NSX: B2G) says an expansion study points to alonger life for the El Limon Mine in Nicaragua, and the company also renewed atwo-year collective bargaining agreement with labor unions. The study evaluatedthe life-of-mine options for combining the remaining underground inferred mineralresources with the new El Limon central zone open-pit inferred mineralresource, B2Gold explains. “The results of this study recommend the expansionof the existing plant from 485,000 tonnes per annum to 600,000 tpa and additionof a third stage of milling to achieve a fine grind,” B2Gold says. “The resultwould be a much longer mine life with significantly higher gold production andlower cash operating costs and all-in sustaining costs. The third stage ofmilling also allows for the reprocessing of old tailings at the end of the minelife.” The company estimates that the mine life can be extended over 10 years.B2Gold estimates an increase in average annual gold production to approximately75,000 ounces during roughly 10 years of mining. In addition, production wouldaverage over 18,000 ounces of gold per year for 11-plus years when subsequentlyprocessing tailings. B2Gold now projects total gold production of approximately985,000 ounces of gold over 21-plus years.
By Allen Sykoraof Kitco News; asykora@kitco.com
Iamgold: StudyPoints To Improved Economics For Boto Project
Tuesday October 23, 2018 08:55
Iamgold Corp. (TSX: IMG; NYSE: IAG) says it will apply for a mining concession in the fourthquarter after a feasibility study for its Boto gold project in Senegal, WestAfrica. The company says the study suggests a low cost of production and longoperating life. Proven and probable reserves increased by 0.51 million ouncesto 1.93 million ounces grading 1.71 grams of gold per tonne, compared to thepre-feasibility study. Indicatedresources were put at 2.49 million ounces grading 1.61 g/t. The mine life wasprojected at 12.8 years with mill throughput of 2.75 million tonnes annually.The company says the study points to average annual production of 140,000ounces, with an average of 160,000 during the first six years. Life-of-minecash costs were put at $714 an ounce and all-in sustaining costs at $753.Initial capital expenditures are projected at $254 million. “Boto Gold hasevolved from a grassroots exploration discovery to a robust development projectwith nearly 2 million ounces in reserves,” says Steve Letwin, president andchief executive officer. He later adds, “This is a solid, low-cost projectwhich is expected to deliver 140,000 ounces annually, on average, for nearly 13years. While a final investment decision is yet to be made, and there is stillpermitting work to be done, we’re looking at a high-value project....”
By Allen SykoraFor Kitco News
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asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication. |