VANCOUVER, British Columbia, June 18, 2024 - B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G), a leading gold mining company, is pleased to announce the release of its Preliminary Economic Assessment (PEA) report for the Gramalote gold project. The report, prepared in compliance with National Instrument 43-101 (NI 43-101), reveals promising results that highlight the project’s tremendous potential.
Located in the Department of Antioquia, Colombia, the Gramalote Project holds significant importance for B2Gold as it showcases a robust after-tax Net Present Value (NPV) of $778 million, with an impressive after-tax Internal Rate of Return (IRR) of 20.6%. These figures reflect the project’s strong viability and positive economic outlook.
The PEA report underscores the Gramalote Project’s potential for profitability, and B2Gold is enthusiastic about the future prospects it presents. The Company’s commitment to explore and develop sustainable mining projects is further reinforced by this achievement.
The positive economic assessment of the Gramalote Project can be attributed to several factors, such as its exceptional mineral resource estimates. With indicated resources of 2.35 million ounces of gold and inferred resources of 4.52 million ounces of gold, the project holds significant promise for future production. Additionally, the prospect of an extended mine life, estimated at 14 years, adds further value to the Gramalote Project.
Moreover, the Gramalote Project benefits from strong infrastructure support, including existing roads, water supply, and power availability. This advantageous positioning reduces the project’s operational costs while optimizing efficiencies. B2Gold’s commitment to sustainable mining practices ensures that environmental and community engagement considerations are given top priority.
The positive preliminary economic assessment results further solidify B2Gold’s position as a leader in the mining industry. With a remarkable after-tax NPV and IRR, the Gramalote Project demonstrates the Company’s ability to identify and develop high-quality mining opportunities.
Following the release of the PEA report, B2Gold is primed and motivated to proceed with further exploration and feasibility studies at the Gramalote Project. The Company remains committed to creating value for its shareholders and stakeholders alike, while contributing to the growth and development of the local mining sector in Colombia.
With the Gramalote Project’s economic potential, B2Gold takes a significant step towards establishing itself as a key player in Colombia’s mining landscape. The Company’s dedication to sustainable practices and community development ensures that mining activities are carried out responsibly and ethically.
In conclusion, B2Gold’s positive preliminary economic assessment for the Gramalote gold project showcases the Company’s commitment to sustainable mining practices, as well as its ability to identify and pursue lucrative opportunities. The remarkable NPV and IRR highlight the project’s strong profitability potential, making the Gramalote Project a key focus for B2Gold’s future expansion plans.
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