Goose Mine

B2Gold (BTG) updated operations across its mines, reaffirming its 2025 gold production guidance of 970,000-1,075,000 ounces. The Goose Mine achieved first gold pour, but crushing plant issues led to reduced 2025 guidance. Otjikoto and Masbate mines are outperforming, increasing their production outlooks. Fekola underground operations commenced, with positive results. The Antelope underground project at Otjikoto was approved with reduced capital costs. Fekola Regional’s exploitation permit is expected soon, projecting 180,000 ounces annually from 2026-2030.

B2Gold (BTG) reported strong Q2 2025 results, exceeding gold production expectations at 229,454 ounces. Cash operating costs were $745/oz, and a $0.02/share dividend was declared. Key achievements include the first gold pour at Goose Mine, positive Gramalote Project study ($941M NPV), Fekola underground mining approval, and Fekola’s 4 millionth ounce milestone achieved. A working capital deficit of $19M was noted, addressed post-quarter with credit facility drawdowns. 2025 production guidance remains at 970,000-1,075,000 ounces.