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Philippines
Masbate Mine

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 Location:
350 SE from Manila, Philippines

  Regional Office:
3rd Floor, Corinthian Plaza 121 Paseo de Roxas cor. Gamboa and Legaspi Sts. Legaspi Village
Makati
Philippines
1229
Phone  ...  Subscription required
Fax(632)-811-3463
WebsiteWeb
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  • Overview
  • Owners
  • Geology
  • Mining
  • Processing
  • Production
  • Reserves
  • Costs & Financials
  • Fleet
  • Personnel
  • Filings & News

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Overview

StageProduction
Mine TypeOpen Pit
Commodities
  • Gold
Mining Method
  • Truck & Shovel / Loader
Production Start...
Mine Life2031


Owners

Source: p. 36
CompanyInterestOwnership
B2Gold Corp. 40 % Indirect
Zoom Mineral Holdings Inc. 60 % Indirect
B2Gold holds its project interest through indirectly-owned subsidiaries. B2Gold has a 40% interest in Filminera and a 100% interest in Philippine Gold Processing & Refining Corporation (“PGPRC”). The remaining 60% interest in Filminera is held by a Philippines-registered company, Zoom Mineral Holdings Inc. (“Zoom”). Filminera owns the majority of the Masbate Gold Project tenements and is responsible for the mining, environmental, social and community relations on the Masbate Gold Project site. PGPRC developed and owns the process plant on the island of Masbate and is responsible for the sale of all gold.

Contractors

Subscription required - Subscription is required.


Deposit Type

  • Breccia pipe / Stockwork
  • Epithermal


Summary:

Masbate is considered to be an example of a low sulphidation epithermal deposit. The Masbate gold deposits that are currently being mined are centred on a 5 km to 7 km wide northwest- to southeast- oriented mineralised volcanic block which is bounded by two interpreted north-west trending fault zones. The mineralizing system being exploited in the open pit operations has a strike length of about 10 km, from Balete in the south to Pajo in the north. Mineralization has been tested to about 400 m depth.

The principal host rock to the gold mineralisation is a fractured andesitic–dacitic, tuffaceous agglomerate. Mineralisation occurs within quartz veins and associated altered and quartz-stockwork wall rocks and breccias. Gold is typically hosted in grey to white crystalline to chalcedonic quartz and is frequently associated with pyrite, marcasite, and minor amounts of chalcopyrite and sphalerite. HG veins are generally narrow (<1 m) but some may reach 20 m in width; sheeted stockwork zones can be up to 75 m in width.


Mining Methods

  • Truck & Shovel / Loader


Summary:

The mine is a conventional open pit operation. Mineral Reserve mining activities are expected to end in 2025 while Mineral Reserve stockpile processing is expected to continue into early 2031. The mine plan assumes that all necessary permits will be granted in support of the mining operations, and that all the required surface rights can be obtained. The open pit mining sequence involves: GC drilling; drill and blast operations; and excavation and hauling of materials to the process plant ROM pad, temporary LG ore stockpiles or WRSF. Mining operations are conducted under an owner-operator model, and activities are scheduled on a 24-hour, seven days per week basis.

An average of 34 Mtpa of ore and waste will be mined from seven different open pits. Production in 2021 was mostly from the Main Vein and Montana pits. The primary ore sources in 2022 will also be from the Main Vein and Montana pits and low-grade stockpiles.

The mining and support equipment fleet was expanded in 2017 and is currently capable of annual total movement of 35 Mtpa, to meet the rate proposed in the LoM plan.


Crushing and Grinding
Source: Subscription required

- subscription is required.


Processing

Flow Sheet: Subscription required

Summary:

- subscription is required.

^ Guidance / Forecast.

Production:

CommodityUnits2022202120202019201820172016
Gold oz  ......  Subscription required ^  ......  Subscription required  ......  Subscription required  ......  Subscription required216,498202,468206,224
All production numbers are expressed as metal in doré. ^ Guidance / Forecast.
Subscription required - Subscription is required.

Operational Metrics:

Metrics202220212020201920182017
Tonnes milled  ......  Subscription required  ......  Subscription required  ......  Subscription required7,996,990 t6,962,262 t6,963,073 t
Annual mining capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required35 Mt35 Mt35 Mt
Plant annual capacity  ......  Subscription required  ......  Subscription required  ......  Subscription required8 Mt6.5 Mt
^ Guidance / Forecast.
Subscription required - Subscription is required.

Reserves at December 31, 2021:
Reserves are reported at cut-off grades that range from 0.36 – 0.38 g/t Au.
Mineral Resources are reported at an average cut-off grade of 0.34 g/t Au.

CategoryTonnage CommodityGradeContained Metal
Probable 73,500 kt Gold 0.8 g/t 1,890 koz
Indicated 126,500 kt Gold 0.78 g/t 3,180 koz
Inferred 27,800 kt Gold 0.77 g/t 690 koz

Commodity Production Costs:

CommodityUnits202220212020201920182017
Cash costs Gold USD  ......  Subscription required&nbs  ......  Subscription required  ......  Subscription required  ......  Subscription required 548 / oz   543 / oz  
Cash costs (sold) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 541 / oz  
Total cash costs (sold) Gold USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 619 / oz  
Total cash costs Gold USD 629 / oz   600 / oz  
All-in sustaining costs (sold) Gold USD  ......  Subscription required&nbs  ......  Subscription required  ......  Subscription required  ......  Subscription required 731 / oz  
All-in sustaining costs (AISC) Gold USD 744 / oz   843 / oz  
^ Guidance / Forecast.
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Operating Costs:

Units2016
OP mining costs ($/t mined) USD 1.34
Processing costs ($/t milled) USD  ......  Subscription required
Subscription required - Subscription is required.

Financials:

Units2022202120202019201820172016
Capital expenditures (planned) M USD  ......  Subscription required
Capital expenditures M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 47.9   52.6   31.9  
Revenue M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 283.4   247.6   255.6  
After-tax Income M USD  ......  Subscription required  ......  Subscription required  ......  Subscription required 62.2   70.2   96.2  
Subscription required - Subscription is required



Heavy Mobile Equipment as of September 30, 2016:
HME TypeModelSizeQuantity
Crane 55 t ....................... Subscription required
Dozer ....................... Subscription required ....................... Subscription required
Dozer ....................... Subscription required ....................... Subscription required
Drill ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Excavator ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Grader ....................... Subscription required ....................... Subscription required
Loader ....................... Subscription required ....................... Subscription required
Loader (FEL) ....................... Subscription required ....................... Subscription required
Loader (FEL) ....................... Subscription required ....................... Subscription required
Loader (FEL) ....................... Subscription required ....................... Subscription required
Truck (haul) ....................... Subscription required ....................... Subscription required
Truck (water) ....................... Subscription required ....................... Subscription required
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Apr 11, 2022
....................... Subscription required ....................... Subscription required Subscription required Apr 11, 2022
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Corporate Filings & Presentations:

DocumentYear
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2021
................................... Subscription required 2020
................................... Subscription required 2020
................................... Subscription required 2019
................................... Subscription required 2019
................................... Subscription required 2019
Annual Information Form 2018
Management Discussion & Analysis 2018
Annual Information Form 2017
Financial Review 2017
Management Discussion & Analysis 2017
Annual Information Form 2016
Financial Review 2016
Management Discussion & Analysis 2016
Technical Report 2016
Other 2013
Technical Report 2011
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