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VANCOUVER - B2Gold Corp. (TSX:BTO, NYSE AMERICAN: BTG, NSX: B2G), a $4.7 billion market cap gold producer with a 2.26% dividend yield, announced Monday it has achieved its first gold pour at the Goose Mine in Nunavut, marking the company’s entry into Canadian gold production. According to InvestingPro analysis, the company appears undervalued at its current price of $3.64.
The Goose Mine, part of the Back River Gold District, becomes B2Gold’s fourth producing mine globally and its first operating asset in Canada. First ore was introduced to the processing facilities on June 24, with the mill running at approximately 50% of nameplate capacity during this initial phase.
"The Goose Mine has achieved its inaugural gold pour, a true milestone for our staff and our partners who have worked tirelessly to reach this achievement," said Clive Johnson, President and CEO of B2Gold in the press release.
The company expects to reach commercial production in the third quarter of 2025, with gold production for the year estimated between 120,000 and 150,000 ounces. B2Gold projects average annual gold production of approximately 300,000 ounces per year for the initial six years of operations (2026-2031) based on existing mineral reserves. InvestingPro data shows promising prospects, with analysts forecasting 55% revenue growth for 2025. Get access to 7 more exclusive ProTips and detailed financial metrics with an InvestingPro subscription.
B2Gold has allocated $32 million of its $61 million corporate exploration budget for 2025 to the Back River Gold District, where the company reports significant exploration potential remains.
The company acknowledged its partnership with the Kitikmeot Inuit Association, which it described as playing a critical role in the development of the mine.
B2Gold forecasts total consolidated gold production across all its operations to be between 970,000 and 1,075,000 ounces in 2025. The company maintains a moderate debt level with a debt-to-equity ratio of 0.14, positioning it well for this expansion phase. Discover more detailed financial metrics and expert analysis at InvestingPro.
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