B2Gold promises positive outcome for Antelope

B2Gold Corporation. has announced positive preliminary results from an economic assessment of the Antelope deposit, located near its Otjikoto gold mine in Namibia.
The assessment suggests a significant boost to the mine’s production profile and underscores the potential for continued growth.  
The Antelope deposit, situated approximately 4 kilometres southwest of the existing.
Otjikoto open pit, comprises the Springbok and Oryx Zones, with a possible third
structure, Impala, under consideration pending further drilling. The preliminary economic assessment (PEA) indicates a robust underground mining operation with an initial lifespan of approximately five years.  
Key highlights of the PEA include an average gold grade of 5.75 grammes per tonne, yielding approximately 327,000 ounces of gold over the mine's life, with an average recovery rate of 95%. The project is projected to produce an average of 65,000 ounces of gold annually. Combined with existing low-grade stockpiles, the Otjikoto mine is expected to produce an average of 110,000 ounces of gold annually from 2029 to 2032.
The project boasts strong financial prospects, with an after-tax net present value (NPV) of approximately N$2.4 billion at a 5% discount rate and an after-tax internal rate of return (IRR) of 35%. The estimated pre-production capital cost is N$2.4 billion, with a payback period of just 1.3 years. The life-of-mine after-tax free cash flow is projected at N$3.4 billion, based on a gold price of N$44,650 per ounce.  
B2Gold emphasized the project's potential to leverage existing infrastructure and expertise from the nearby Wolfshag underground mine. The company highlighted that permitting and environmental processes are well-understood, as the Antelope deposit falls within the existing mining license area.  
Exploration efforts will continue in 2025, with a N$140 million budget allocated for drilling at Otjikoto, focusing on expanding the Antelope deposit. Approximately 44,000 metres of drilling are planned, including infill drilling to refine the high-grade mineralization in the Springbok Zone and explore potential extensions of the deposit.
The PEA, effective January 15, 2025, considers an underground mining operation with a processing rate of up to 1,400 tonnes per day. 
The mined ore will be transported to the existing Otjikoto processing plant. The assessment is based on an inferred mineral resource estimate for the Antelope deposit of 1.75 million tonnes grading 6.91 g/t gold, for a total of 390,000 ounces of gold.  
B2Gold's announcement signals a promising future for the Otjikoto mine and reinforces Namibia's position as a key player in the global gold mining industry.