Shares of B2Gold, a Canadian gold mining company, experienced a significant decline of up to 6.5 percent on Monday, following an announcement regarding reduced production guidance for its latest mining venture in northern Canada.
The Vancouver-based company confirmed its overall 2025 production target, aiming for a total output between 970,000 and 1,075,000 ounces of gold from its diverse portfolio of mines, which are primarily situated in West Africa and the Philippines. However, the update about the Goose Mine, which began production earlier this month, has raised concerns among investors.
B2Gold started operating the Goose Mine in Nunavut, with expectations of a nine-year production lifecycle, projected to yield approximately 300,000 ounces of gold in 2026. Despite this optimistic outlook, the company announced a revision in its production estimates for the Goose Mine itself, lowering its forecast from a range of 120,000 to 150,000 ounces down to between 80,000 and 110,000 ounces. The revision was attributed to a recent “capacity shortfall” at the mine’s crushing plant.
Despite this setback, B2Gold emphasized that the Goose Mine remains on schedule for commercial production in the coming weeks and is anticipated to yield strong production numbers in the fourth quarter of 2025.
On the Toronto Stock Exchange, shares of B2Gold were reported down 3.22 percent, trading at $6.02 as of 11:16 a.m. ET. The stock, however, has seen a remarkable increase of over 70 percent year-to-date, benefiting from a broader rally in gold and related equities.
