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Fekola Complex beats targets, with underground output now seen at 30,000-40,000 ounces.
Otjikoto and Masbate lift 2025 guidance, keeping BTG's total forecast at 970,000-1,075,000 ounces.
B2Gold Corp (BTG - Free Report) has announced that the project commissioning activities at the Goose Mine are near completion. The Goose Mine aims to achieve commercial production in the upcoming weeks by using temporary mobile crushing due to its limited crushing plant capacity in the third quarter of 2025.
B2Gold announced that its Fekola Mine has maintained strong performance in the first half of 2025 and has exceeded the company’s budgeted gold production levels. The Fekola Complex received approval for underground operations and started ore production. BTG expects Fekola Regional's exploitation permit by the end of third-quarter 2025, post which mining will start. The company expects gold production in early 2026, ramping up to 180,000 ounces per year.
The company’s Otjikoto Mine and Masbate Mine have surpassed expectations in the third quarter of 2025.
B2Gold announced that it has approved the Antelope underground deposit development at the Otjikoto Mine. The company reduced estimated pre-production capital costs from the prior stated $129 million to $105 million after a preliminary economic assessment and further optimization work. These investments are set for 2026 and 2027. Once operational, Antelope is expected to boost the Otjikoto Mine's gold production to around 110,000 ounces annually over the life of the mine.
B2Gold’s 2025 Mine Guidance
BTG is trimming its 2025 gold production outlook for the Goose Mine to 80,000-110,000 ounces from the prior stated range of 120,000 to 150,000 ounces. This is mainly due to the crushing plant capacity shortfall faced in the third quarter of 2025. Fourth-quarter gold production from Goose Mine is still expected at 70,000 ounces.
The company continues to expect 250,000 ounces of gold production in 2026 and 330,000 ounces in 2027. B2Gold expects gold production from the Goose Project to be 300,000 ounces per year for the first six years of operation.
B2Gold keeps on expecting the Fekola Complex to produce 515,000 to 550,000 ounces of gold in 2025. However, Fekola Regional gold production is expected to be null in 2025 due to the timing of the Fekola Regional exploitation permit. Fekola underground is expected to produce 30,000 to 40,000 ounces of gold, up from the previously mentioned 25,000 to 35,000 ounces.
Fekola and Cardinal open-pit mining activities are anticipated to generate 485,000 to 510,000 ounces of gold in 2025.
The company anticipates the Otjikoto Mine to produce 185,000 to 205,000 ounces of gold in 2025, up from its previous expectation of 165,000 to 185,000 ounces. Production at Masbate Mine is expected to range between 190,000 and 210,000 ounces. The company previously expected Masbate Mine to produce 170,000 to 190,000 ounces of gold.
B2Gold’s total annual gold production for 2025 is expected to be between 970,000 and 1,075,000 ounces.
BTG Stock’s Price Performance
The company’s shares have rallied 37.7% in the past year compared with the industry’s surge of 73%.
The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating year-over-year growth of 60.1%. The Mosaic Company’s shares jumped 31.5% last year.
The consensus estimate for Agnico Eagle Mines’ 2025 earnings is pegged at $6.94 per share. The estimate indicates year-over-year growth of 64.1%. It has an average trailing four-quarter earnings surprise of 10%. Agnico Eagle Mines’ shares have surged 79.1% in a year.
Carpenter Technology has an average trailing four-quarter earnings surprise of 8.4%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $9.36 per share. Its shares surged 68% in the last year.
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B2Gold Confirms Total 2025 Production Outlook Despite Goose Mine Cut
Key Takeaways
B2Gold Corp (BTG - Free Report) has announced that the project commissioning activities at the Goose Mine are near completion. The Goose Mine aims to achieve commercial production in the upcoming weeks by using temporary mobile crushing due to its limited crushing plant capacity in the third quarter of 2025.
B2Gold announced that its Fekola Mine has maintained strong performance in the first half of 2025 and has exceeded the company’s budgeted gold production levels. The Fekola Complex received approval for underground operations and started ore production. BTG expects Fekola Regional's exploitation permit by the end of third-quarter 2025, post which mining will start. The company expects gold production in early 2026, ramping up to 180,000 ounces per year.
The company’s Otjikoto Mine and Masbate Mine have surpassed expectations in the third quarter of 2025.
B2Gold announced that it has approved the Antelope underground deposit development at the Otjikoto Mine. The company reduced estimated pre-production capital costs from the prior stated $129 million to $105 million after a preliminary economic assessment and further optimization work. These investments are set for 2026 and 2027. Once operational, Antelope is expected to boost the Otjikoto Mine's gold production to around 110,000 ounces annually over the life of the mine.
B2Gold’s 2025 Mine Guidance
BTG is trimming its 2025 gold production outlook for the Goose Mine to 80,000-110,000 ounces from the prior stated range of 120,000 to 150,000 ounces. This is mainly due to the crushing plant capacity shortfall faced in the third quarter of 2025. Fourth-quarter gold production from Goose Mine is still expected at 70,000 ounces.
The company continues to expect 250,000 ounces of gold production in 2026 and 330,000 ounces in 2027. B2Gold expects gold production from the Goose Project to be 300,000 ounces per year for the first six years of operation.
B2Gold keeps on expecting the Fekola Complex to produce 515,000 to 550,000 ounces of gold in 2025. However, Fekola Regional gold production is expected to be null in 2025 due to the timing of the Fekola Regional exploitation permit. Fekola underground is expected to produce 30,000 to 40,000 ounces of gold, up from the previously mentioned 25,000 to 35,000 ounces.
Fekola and Cardinal open-pit mining activities are anticipated to generate 485,000 to 510,000 ounces of gold in 2025.
The company anticipates the Otjikoto Mine to produce 185,000 to 205,000 ounces of gold in 2025, up from its previous expectation of 165,000 to 185,000 ounces. Production at Masbate Mine is expected to range between 190,000 and 210,000 ounces. The company previously expected Masbate Mine to produce 170,000 to 190,000 ounces of gold.
B2Gold’s total annual gold production for 2025 is expected to be between 970,000 and 1,075,000 ounces.
BTG Stock’s Price Performance
The company’s shares have rallied 37.7% in the past year compared with the industry’s surge of 73%.
B2Gold’s Zacks Rank & Stocks to Consider
BTG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the basic materials space are The Mosaic Company (MOS - Free Report) , Agnico Eagle Mines (AEM - Free Report) and Carpenter Technology Corporation (CRS - Free Report) . While MOS and AEM flaunt a Zacks Rank #1 (Strong Buy) each at present, CRS carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for The Mosaic Company’s 2025 earnings is pegged at $3.17 per share, indicating year-over-year growth of 60.1%. The Mosaic Company’s shares jumped 31.5% last year.
The consensus estimate for Agnico Eagle Mines’ 2025 earnings is pegged at $6.94 per share. The estimate indicates year-over-year growth of 64.1%. It has an average trailing four-quarter earnings surprise of 10%. Agnico Eagle Mines’ shares have surged 79.1% in a year.
Carpenter Technology has an average trailing four-quarter earnings surprise of 8.4%. The Zacks Consensus Estimate for CRS’ 2025 earnings is pegged at $9.36 per share. Its shares surged 68% in the last year.