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B2Gold has sold down its stake in Nicaragua producer Calibre Mining to less than 10%, citing market conditions and corporate strategy.
Calibre is developing the Valentine gold project in Newfoundland, which produces 45,000 oz. a year in Nevada and operates the Limon Norte open-pit mine complex about 120 km north of Nicaragua’s capital, Managua. The company has maintained this year’s output guidance of 275,000-300,000 oz. even after a partial wall collapse at Limon weakened production this month.
B2Gold said Thursday its Springbok zone at the Antelope deposit near the Otjikoto mine in Namibia holds enough gold to start a PEA there. Mining it could start in 2026, it said.
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