Nicaragua: Gold Mine Doubles Profits

The Canadian company B2Gold, which operates the Limon and La Libertad mining projects in Nicaragua, has announced higher revenues and production.

Friday, November 11, 2011

In the third quarter of 2011, the company’s gold mines produced a total of 34,303 ounces of gold and generated revenues of $50.5 million. This represents a 13% increase in production and a 26% increase in revenue, compared with the same period in 2010.

During the third quarter of 2010, the average price per ounce was $1,244, while in the same period of 2011 it rose to $1,701 per ounce.

In terms of profits, the company reported $18.3 million; double that of the third quarter last year.



More on this topic

B2Gold purchases 100% of two Nicaraguan operations

April 2012

The Canadian mining company buys 40% of shares from joint venture partner Radius Inc. for $20,08 million, and takes total control of Trebol and El Pavon gold mining sites in Nicaragua.

B2Gold Corp. and Radius Gold Inc. announced on April 9 the signing of a binding letter agreement pursuant to which B2Gold has agreed, among other things, to acquire a 100% interest in the Trebol and El Pavon gold properties in Nicaragua in consideration of C$20 million, payable in common shares of B2Gold at a price per share equal to the volume weighted average price of B2Gold’s common shares on the Toronto Stock Exchange (“TSX”) for the ten trading days immediately preceding the date of the letter agreement.

Nicaraguan Gold Mine Production Increases

December 2010

"La Libertad" gold mine, owned by B2Gold Corp, could increase its production and operating life.

The company announced the results of exploratory drilling, which indicates the possibility of increasing current production, which stands at 80.000-90.000 ounces of gold annually.

Nicaragua: Orosi Mine Commences Gold Production

January 2010

The Orosi Mine, owned by Canadian corporation B2Gold Corp., commenced gold and silver production.

According to a press release issued by the company, the first dore bar was produced on January 5th, 2010.

B2Gold expects to produce approximately 80,000 to 90,000 ounces of gold per year at an estimated average operating cash cost of approximately $465 per ounce with an initial seven year mine life.

Nicaragua: Orosi Gold Mine 95% Ready

November 2009

Its owner, Canadian company B2Gold, estimates 2010 production in 120.000-130.000 gold ounces for its two mines in the country.

In a press release, B2Gold announced that mining project Orosi is 95% ready, could begin operations in November, and has had a construction cost of $62 million.

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