B2Gold Announced Positive Feasibility Study Results for Gramalote Mine

The feasibility study is with an effective date of April 1, 2025.

SEATTLE (Scrap Monster): Positive feasibility study findings for the Gramalote gold mine in Colombia's Department of Antioquia were reported by B2Gold Corp. Within forty-five days, a technical report related to the feasibility study will be prepared.

According to the feasibility study, the gold mine is an open pit with an initial mine life of 11 years and a mill processing life of 13 years. Over the first five years, it anticipates an average grade processed of 1.23 grams per ton of gold, and over the project's duration, it anticipates 0.96 grams per ton. Additionally, it projects an average yearly production of gold of roughly 227,000 ounces for the first five years and 177,000 ounces for the duration of the project.

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The feasibility study forecasts an estimated construction capital cost of $740 million, comprising of $73 million for mining equipment and $81 million for contingency. It must be noted that over 27,000 metres of drilling has been completed at the Gramalote project. A robust amount of engineering studies also have been completed.

The all-in sustaining costs (AISC) over the project’s life is estimated at $985 per gold ounce.

The mine plan and environment permits obtained are for a large-scale project. The medium-scale project contemplated in the feasibility study would require modification to these permits.

The feasibility study is with an effective date of April 1, 2025.