Nicaragua: Gold Mine Doubles Profits

In the third quarter of 2011, the company’s gold mines produced a total of 34,303 ounces of gold and generated revenues of $50.5 million. This represents a 13% increase in production and a 26% increase in revenue, compared with the same period in 2010.

During the third quarter of 2010, the average price per ounce was $1,244, while in the same period of 2011 it rose to $1,701 per ounce.

In terms of profits, the company reported $18.3 million; double that of the third quarter last year.

Source: ibtimes.com

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Nicaraguan Gold Mine Production Increases

December 2010

"La Libertad" gold mine, owned by B2Gold Corp, could increase its production and operating life.

The company announced the results of exploratory drilling, which indicates the possibility of increasing current production, which stands at 80.000-90.000 ounces of gold annually.

Nicaragua: Orosi Mine Commences Gold Production

January 2010

The Orosi Mine, owned by Canadian corporation B2Gold Corp., commenced gold and silver production.

According to a press release issued by the company, the first dore bar was produced on January 5th, 2010.

B2Gold expects to produce approximately 80,000 to 90,000 ounces of gold per year at an estimated average operating cash cost of approximately $465 per ounce with an initial seven year mine life.

B2Gold purchases 100% of two Nicaraguan operations

April 2012

The Canadian mining company buys 40% of shares from joint venture partner Radius Inc. for $20,08 million, and takes total control of Trebol and El Pavon gold mining sites in Nicaragua.

B2Gold Corp. and Radius Gold Inc. announced on April 9 the signing of a binding letter agreement pursuant to which B2Gold has agreed, among other things, to acquire a 100% interest in the Trebol and El Pavon gold properties in Nicaragua in consideration of C$20 million, payable in common shares of B2Gold at a price per share equal to the volume weighted average price of B2Gold’s common shares on the Toronto Stock Exchange (“TSX”) for the ten trading days immediately preceding the date of the letter agreement.

B2Gold Bets on Gold in Nicaragua

March 2012

The Canadian mining company will invest $100 million in the country in 2012 to expand its two gold mines.

B2Gold is the largest mining operation in Nicaragua, and owns La Libertad mine and 95% of the Limon mine, respectively producing about 90,000 and 40,000 ounces of gold annually. Together, the two mines are expected to generate $140 million in cash this year, 40% more than in 2011.