B2Gold: Study Suggests Longer Mine Life At El Limon
B2Gold Corp. (TSX: BTO, NYSE American: BTG, NSX: B2G) says an expansion study points to a longer life for the El Limon Mine in Nicaragua, and the company also renewed a two-year collective bargaining agreement with labor unions. The study evaluated the life-of-mine options for combining the remaining underground inferred mineral resources with the new El Limon central zone open-pit inferred mineral resource, B2Gold explains. “The results of this study recommend the expansion of the existing plant from 485,000 tonnes per annum to 600,000 tpa and addition of a third stage of milling to achieve a fine grind,” B2Gold says. “The result would be a much longer mine life with significantly higher gold production and lower cash operating costs and all-in sustaining costs. The third stage of milling also allows for the reprocessing of old tailings at the end of the mine life.” The company estimates that the mine life can be extended over 10 years. B2Gold estimates an increase in average annual gold production to approximately 75,000 ounces during roughly 10 years of mining. In addition, production would average over 18,000 ounces of gold per year for 11-plus years when subsequently processing tailings. B2Gold now projects total gold production of approximately 985,000 ounces of gold over 21-plus years.
By Allen Sykora of Kitco News; email@example.com
Iamgold: Study Points 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 fourth quarter after a feasibility study for its Boto gold project in Senegal, West Africa. The company says the study suggests a low cost of production and long operating life. Proven and probable reserves increased by 0.51 million ounces to 1.93 million ounces grading 1.71 grams of gold per tonne, compared to the pre-feasibility study. Indicated resources were put at 2.49 million ounces grading 1.61 g/t. The mine life was projected at 12.8 years with mill throughput of 2.75 million tonnes annually. The company says the study points to average annual production of 140,000 ounces, with an average of 160,000 during the first six years. Life-of-mine cash costs were put at $714 an ounce and all-in sustaining costs at $753. Initial capital expenditures are projected at $254 million. “Boto Gold has evolved from a grassroots exploration discovery to a robust development project with nearly 2 million ounces in reserves,” says Steve Letwin, president and chief executive officer. He later adds, “This is a solid, low-cost project which is expected to deliver 140,000 ounces annually, on average, for nearly 13 years. While a final investment decision is yet to be made, and there is still permitting work to be done, we’re looking at a high-value project….”