The Limon Mine is located in northwestern Nicaragua approximately 100 kilometres north of Managua and 20 kilometres from the Pan-American Highway.
B2Gold holds a 95% interest in the Limon Mine, with the remaining 5% being held by Inversiones Mineras S.A., a holding company representing unionized mine workers in Nicaragua. The Limon Mine concession includes numerous epithermal gold-quartz veins and has been in operation as an underground and open pit gold mine since 1941. To date the Limon Mine has produced approximately three million ounces of gold.
In 2011, the Limon Mine accomplished its best year of gold production since 2004. The mine produced 45,037 ounces of gold from ore extracted from both open pits and underground with cash operating costs averaging $678 per ounce. The improved production from the mine was due to operational improvements
The Limon Mine is projected to produce approximately 48,000 to 50,000 ounces of gold in 2012, an increase from 2011 production of 45,037 ounces of gold. Operating cash costs for 2012 are projected at approximately $700 to $725 per ounce of gold.
Exploration continues at El Limon with two drill rigs exploring both near surface and underground targets with the goal of increasing the five year mine life and testing higher grade targets.
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