Miner logged a pre-tax loss for the period of £352,553, compared to a £602,678 loss a year before, as administrative expenses almost halved.
Nicaragua Mining News
Average annual gold output would increase to more than 550,000 ounces in the five-year period 2020 – 2024, and over 400,000 ounces during the remaining seven years.
Consolidated gold production was 230,859 ounces, 6% (12,704) ounces above budget.
Test at the company's 100%-owned La India gold project in Nicaragua confirmed 95.4% gold recovery from two samples in laboratory conditions.
It could take the Malian mine gold output to 7.5-million tonnes a year from the current 6-million tonnes.
The company has started the permitting process for two high-grade satellite feeder pits that could increase production at its La India gold project in Nicaragua by 50% to 120,000 ounces a year.
The mineral resource update totalled 9.85 million tonnes at 3.6 grams per tonne of gold for 1.14 million of indicate ounces, a surge of 57,000 ounces from the previous update.
For 2019, the Canadian miner forecasts gold production of between 935,000 and 975,000 ounces at all-in sustaining costs estimated at between $835 and $875 per ounce.
Nicaragua’s Ministry of Energy and Mines granted the company the Las Cruces concession, expanding its La India project package by 45% to 455.6 km2.
The company extended known targets and discovered new high-grade vein systems at its La India gold project in Nicaragua.
Golden Reign acquired all of Marlin’s shares.
The expansion is seen as a step in the right direction for BTO to hit its long-term 1 million oz. per year target.
Despite the political unrest in the Central American country, Condor has received an environmental permit for the development of a processing plant and associated mine site infrastructure at La India gold project.
Shares jumped after the company said it had submitted additional technical studies to environmental and natural resources authority for permitting approval at its La India project.
The plant is expected to improve B2Gold’s economic returns, reduce impacts on the environment and become a potential funding source for community development.
The Nicaragua-focused miner has not generated any revenue in the past two years, but narrowed pre-tax loss to £3 million in 2017 from £7.7 million a year earlier.
Company's technical team believes the La India project is both technically viable and economically attractive with a redesigned open pit that does not require community resettlement.
Proceeds from the private placement and financing will be used for exploration and development of the junior miner’s projects in Colombia and Nicaragua.
To date, the company has invested $45 million in Nicaragua, completed over 70,000 meters of drilling on its flagship La India asset, and produced two PEAs and a PFS.
The cooperation agreement aims at identifying and exploring gold and copper targets in the areas covered by both companies’ existing licenses
Last year, the nation produced over 267,000 ounces of gold, significantly more than the 109,200 ounces it generated in 2006.
B2Gold’s stock has gained almost 229% so far this year.
Deadly clashes as police try to clear access to B2Gold's El Limon mine on day nine of blockade.
The security guard, a long-time employee at the Masbate gold project, was killed by a fellow guard on Saturday, following an argument between the two.
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