B2Gold Corp. Hints at Delayed Start of Goose Gold Mine Project

SEATTLE (Scrap Monster): Vancouver, B.C.-based B2Gold Corp. declared operational and financial results for the first quarter of 2024. 

The company announced that its Goose open pit and underground project in Nunavut is currently running slightly behind schedule and that the first gold from the gold mine project has now been delayed from Q1 to the second quarter of 2025. The delay is mainly attributed to constraints in equipment availability, unforeseen bad weather conditions and prioritization of critical path construction activities.

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The gold production during the quarter totalled 225,716 ounces, which was very much in line with expectations. The company reported total consolidated cash operating costs of $734 per gold ounce produced in Q1 2024. B2 Gold reported total consolidated all-in sustaining costs of $1,345 per gold ounce sold during the quarter.

The attributable net income for the quarter stood at $0.03 per share, whereas the adjusted attributable net income was $0.06 per share. The company reported operating cash flow before working capital adjustments of $200 million during the quarter. B2 Gold’s financial position and liquidity remained strong at the end of the quarter. The company declared dividend of $0.04 per share for Q2 this year.