Projects

La Libertad Mine – Nicaragua (1)

Please note that this page is currently being updated. Please click here for B2Gold's most recent news release re: Q4 & Year-End 2017 Production & Revenue & Guidance for 2018.

Open Pit and Underground, 100% B2Gold Ownership

Property Location and Access:

La Libertad Mine is located in La Libertad–Santo Domingo Region of the Department of Chontales in Central Nicaragua. The mine is situated approximately 110 kilometres (“km”) due east of Managua, the capital city of Nicaragua and 32 km northeast of Juigalpa, the capital city of the Department of Chontales. Road access from Managua is initially along a 201-km paved road to Juigalpa, then via a paved stone road for 30 km to the town of La Libertad, and another 5 km along an unsurfaced road to the mine.

Third Quarter (“Q3”) 2017:

La Libertad Mine produced 16,487 ounces of gold in the third quarter of 2017 (Q3 2016 – 37,261 ounces), approximately in-line with revised guidance (but lower than originally budgeted as gold production at La Libertad was negatively impacted by permitting delays for new mining areas).

As previously released, the Company has changed its planned sequencing for bringing the Jabali Antenna Pit into the mine plan (originally forecast to enter production in the third quarter of 2017). With strong support from the Nicaraguan government, the Company is now focused on bringing the San Juan and San Diego open pits into production in the second half of 2017, ahead of the Jabali Antenna Pit. In September 2017, the San Juan mining permit was received, and it is anticipated that the San Diego mining permit will also be received by early December (following public consultation). Mining has already commenced in the San Juan Pit and is expected to commence in the San Diego Pit upon receipt of its permit. The Company has also made significant progress in resettlement and permitting activities at the high-grade Jabali Antenna Pit and is expecting to receive its permit in time to start production from the pit in the third quarter of 2018. 

La Libertad’s third quarter cash costs, on a per ounce basis, were impacted by the lower than planned production with cash operating costs(2) of $788 per ounce (Q3 2016 – $637 per ounce) and all-in sustaining costs (“AISC”)(2) of $1,187 per ounce (Q3 2016 – $788 per ounce).

Year-to-date (“YTD”)(3) 2017:

Year-to-date gold production at La Libertad was 67,641 ounces (YTD 2016 – 97,266 ounces), approximately in-line with reforecast but 18,679 ounces lower than (original) budget.      

Year-to-date, La Libertad’s cash operating costs were $780 per ounce (YTD 2016 – $658 per ounce) and AISC were $1,019 per ounce (YTD 2016 – $913 per ounce). 

La Libertad

2017 & 2018 Guidance:

For full-year 2017, La Libertad’s production is expected to be at the low end of its revised production guidance range of between 90,000 to 100,000 ounces of gold (original guidance was 110,000 to 120,000 ounces) and to be at the upper end of its cash operating costs (of between $795 to $835 per ounce) and AISC (of between $1,075 and $1,115 per ounce) guidance ranges. Inclusion of the newly permitted open pits is expected to increase gold production in the fourth quarter of 2017, resulting in total 2017 production near the lower end of revised guidance.

With the permitting of Jabali Antenna (currently scheduled for Q2 2018) gold production for 2018 is expected to reach original 2017 guidance, up to 120,000 ounces. The Company has a successful track record of converting its mineral resources to reserves. Permitting and development of San Juan, San Diego and Jabali Antenna permits, combined with successful conversion of underground resources to reserves at Mojon and Jabali, have the potential to extend the life of mine at La Libertad for an additional two years (past 2018). Mineral resources that are not mineral reserves do not have demonstrated economic viability. In addition, exploration continues at La Libertad for additional open pit or underground mineral targets.

Recent News Releases:

Please click here for the full news release “B2Gold Reports Strong Third Quarter 2017 Results; New Fekola Mine Achieves First Gold Pour on October 7, 2017, and Gold Production of 40,286 Ounces to October 31 during Ramp-up Phase; Commercial Production at Fekola Anticipated by End of November,” dated November 7, 2017.

La Libertad

Click here for details on La Libertad “Exploration” section

Footnotes (Click to expand)

  1. The disclosure contains forward-looking statements. Refer to the Legal section of the website (click here) for caution regarding forward-looking statements and the basis for presentation of Mineral Reserves, Mineral Resources and other technical disclosures
  2. Refer to “Non-IFRS measures” in B2Gold’s most recently filed Management’s Discussion and Analysis (“MD&A”). Click here for MD&A
  3. First nine months of 2017

Certain portions of the information provided herein are derived from and based on the technical report entitled “NI 43-101 Technical Report, La Libertad Mine, La Libertad Region, Nicaragua” dated March 27, 2015, prepared by Donald E. Hulse, P.E. William J. Crowl, MMSA and Dr. Deepak Malhotra, RM SME and from our most recently filed Annual Information Form (“AIF”) – click here for AIF, and are based on the assumptions, qualifications and procedures set out therein. For a more detailed overview of La Libertad Mine, please refer to the documents noted above, which are available on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov

La Libertad

Note: For more details on B2Gold’s La Libertad Mine, click here for the Company’s Annual Information Form 2017 and click here for the Company's most recent Management’s Discussion and Analysis (these are also available on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov).

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