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B2Gold Strengthens Goose Mine Operations With Crushing Upgrades
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Key Takeaways
B2Gold's mobile crusher is averaging more than 3,000 tons per day at the Goose mine.
Phase 1 upgrades target sustained crushing throughput of 3,200 tons per day.
Exploration drilling at the Back River Gold District totaled 27,493 meters by August-end.
B2Gold Corp. (BTG - Free Report) announced that the newly commissioned mobile crushing plant at its Goose mine has reached total mobile crushing ore throughput exceeding an average of 3,000 tons per day since mid-August, in line with the company’s plan.
Operational Update on BTG’s Goose Mine
The company is currently moving forward with Phase 1 upgrades to the fixed crushing plant, including the addition of a run-of-mine mass-flow bin and apron feeder, a new larger jaw crusher, and a rock breaker. This is expected to reach a sustained average of 3,200 tons per day. Costs for the additional crushing plant were around $16 million, while Phase 1 upgrades are expected to be $11 million.
B2Gold has also scheduled Phase 2 upgrades to the fixed crushing plant for the first half of 2027. The company expects the Phase 2 upgrades to boost average crushing capacity to a design throughput of 4,000 tons per day.
The Goose mine remains on track to achieve an annual production guidance of 170,000-200,000 ounces for 2026. The company expects the third-quarter production to be in line with that reported in the first quarter. Backed by a full quarter of higher tons milled and strong mill feed grade, the fourth-quarter 2026 production levels are expected to be the strongest in the year.
B2Gold’s Back River Gold District Exploration Program Update
The company also announced positive results from its ongoing Back River Gold District exploration drilling program. For 2026, it has set a budget of $51 million for this exploration drilling program. Over half of this funding is allocated to the Goose Mine to infill Inferred Mineral Resources at the Llama deposit and Nuvuyak zone.
The Back River Gold District exploration drilling program completed 27,493 meters of drilling as of August-end. The company has plans to drill more than 35,000 meters in 2026.
BTG’s Q2 Performance
B2Gold reported adjusted earnings of 3 cents per share for the second quarter of 2026, missing the Zacks Consensus Estimate of 7 cents by 57.14%. The bottom line fell 75% from 12 cents in the year-ago quarter. Adjusted earnings included $71 million in realized losses on the company’s gold collars.
B2Gold generated revenues of $789 million in the second quarter of 2026, reflecting a year-over-year increase of 14%. The upside was supported by higher realized gold prices, with the average realized gold price rising to $3,767 per ounce from $3,290 in the prior-year quarter, partly offset by a slight decline in gold ounces sold to 209,537 from 210,384.
The company belongs to the Zacks Mining – Gold industry, along with Royal Gold, Inc. (RGLD - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and Kinross Gold Corporation (KGC - Free Report) . Let us see how BTG’s peers performed in the second quarter of 2026.
Royal Gold reported adjusted earnings of $2.56 per share for the second quarter of 2026, up 41.4% from $1.81 a year ago. The figure missed the Zacks Consensus Estimate of $2.62 by 2.29%. Royal Gold’s revenues surged 114.9% to $450.5 million, aided by higher metal prices, new contributions from Kansanshi and the Sandstorm/Horizon assets, and stronger gold sales at Andacollo and Rainy River. Sales volume rose 56.5% to 100,000 gold-equivalent ounces.
Franco-Nevada reported adjusted earnings of $1.81 per share in the second quarter of 2026, up 46% year over year. However, the bottom line missed the Zacks Consensus Estimate of $1.95. Franco-Nevada’s revenues climbed 57.3% to $581 million, aided by stronger precious metal and oil prices, and higher contributions from several assets. Gold-equivalent ounces sold increased 18.1% to 132,405.
Kinross Gold reported adjusted earnings of 71 cents per share for the second quarter of 2026, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents. Kinross Gold's revenues increased 29.5% year over year to $2.2 billion but missed the consensus estimate of $2.3 billion. Higher realized gold prices supported the sales increase and helped offset lower attributable gold-equivalent production.
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B2Gold Strengthens Goose Mine Operations With Crushing Upgrades
Key Takeaways
B2Gold Corp. (BTG - Free Report) announced that the newly commissioned mobile crushing plant at its Goose mine has reached total mobile crushing ore throughput exceeding an average of 3,000 tons per day since mid-August, in line with the company’s plan.
Operational Update on BTG’s Goose Mine
The company is currently moving forward with Phase 1 upgrades to the fixed crushing plant, including the addition of a run-of-mine mass-flow bin and apron feeder, a new larger jaw crusher, and a rock breaker. This is expected to reach a sustained average of 3,200 tons per day. Costs for the additional crushing plant were around $16 million, while Phase 1 upgrades are expected to be $11 million.
B2Gold has also scheduled Phase 2 upgrades to the fixed crushing plant for the first half of 2027. The company expects the Phase 2 upgrades to boost average crushing capacity to a design throughput of 4,000 tons per day.
The Goose mine remains on track to achieve an annual production guidance of 170,000-200,000 ounces for 2026. The company expects the third-quarter production to be in line with that reported in the first quarter. Backed by a full quarter of higher tons milled and strong mill feed grade, the fourth-quarter 2026 production levels are expected to be the strongest in the year.
B2Gold’s Back River Gold District Exploration Program Update
The company also announced positive results from its ongoing Back River Gold District exploration drilling program. For 2026, it has set a budget of $51 million for this exploration drilling program. Over half of this funding is allocated to the Goose Mine to infill Inferred Mineral Resources at the Llama deposit and Nuvuyak zone.
The Back River Gold District exploration drilling program completed 27,493 meters of drilling as of August-end. The company has plans to drill more than 35,000 meters in 2026.
BTG’s Q2 Performance
B2Gold reported adjusted earnings of 3 cents per share for the second quarter of 2026, missing the Zacks Consensus Estimate of 7 cents by 57.14%. The bottom line fell 75% from 12 cents in the year-ago quarter. Adjusted earnings included $71 million in realized losses on the company’s gold collars.
B2Gold generated revenues of $789 million in the second quarter of 2026, reflecting a year-over-year increase of 14%. The upside was supported by higher realized gold prices, with the average realized gold price rising to $3,767 per ounce from $3,290 in the prior-year quarter, partly offset by a slight decline in gold ounces sold to 209,537 from 210,384.
The company belongs to the Zacks Mining – Gold industry, along with Royal Gold, Inc. (RGLD - Free Report) , Franco-Nevada Corporation (FNV - Free Report) and Kinross Gold Corporation (KGC - Free Report) . Let us see how BTG’s peers performed in the second quarter of 2026.
Royal Gold reported adjusted earnings of $2.56 per share for the second quarter of 2026, up 41.4% from $1.81 a year ago. The figure missed the Zacks Consensus Estimate of $2.62 by 2.29%. Royal Gold’s revenues surged 114.9% to $450.5 million, aided by higher metal prices, new contributions from Kansanshi and the Sandstorm/Horizon assets, and stronger gold sales at Andacollo and Rainy River. Sales volume rose 56.5% to 100,000 gold-equivalent ounces.
Franco-Nevada reported adjusted earnings of $1.81 per share in the second quarter of 2026, up 46% year over year. However, the bottom line missed the Zacks Consensus Estimate of $1.95. Franco-Nevada’s revenues climbed 57.3% to $581 million, aided by stronger precious metal and oil prices, and higher contributions from several assets. Gold-equivalent ounces sold increased 18.1% to 132,405.
Kinross Gold reported adjusted earnings of 71 cents per share for the second quarter of 2026, up 61.4% from 44 cents in the year-ago quarter. The bottom line beat the Zacks Consensus Estimate of 66 cents. Kinross Gold's revenues increased 29.5% year over year to $2.2 billion but missed the consensus estimate of $2.3 billion. Higher realized gold prices supported the sales increase and helped offset lower attributable gold-equivalent production.