Financial Wire

B2Gold Provides Operational Update Related to Fire at Goose Mine, Lowers Q2 Output Forecast

-- B2Gold (BTO.TO) late on Sunday provided an update on the near-term operational plan related to a fire in certain areas of the crushing circuit at the Goose Mine that occurred April 16.

The Goose Mine has mobile crushers on site, and the preliminary operational plan is to utilize these to feed crushed ore directly to the fine ore stockpile. Additional temporary crushing capacity has been sourced and will be transported to site in the second quarter.

A preliminary revised mill processing plan has been developed for the second quarter based on the use of mobile crushers while repairs to the affected crushing circuit are completed.

The repairs are expected to be completed in the third quarter and are estimated to cost about C$10 million. The crushing circuit will be able to operate at an average daily capacity of about 3,200 tonnes per day by the end of the third quarter.

Gold production is expected to continue at a reduced level than previously anticipated in the second quarter. B2Gold lowered its second-quarter gold production forecast to 18,000 to 20,000 ounces, a reduction of about 10,000 ounces from the previous forecast.

The company reiterated full-year 2026 gold production guidance for the Goose Mine of 170,000 to 230,000 ounces. The impact of lower availability of crushed ore as a result of the fire is expected to be limited to the second quarter of 2026.

The company's initial assessment was that the fire damage was localized to the crushing circuit area. There was no damage or impact to the mill or power facility.

No injuries were reported and no medical treatment was required.

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