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B2Gold Announces Results from Otjikoto Project Feasibility Study

B2Gold Corp. (BTO.TO) announced "robust" results from the Feasibility Study and commencement of construction at the Otjikoto gold project in Namibia.

The mine plan is based on probable mineral reserves of 29.4 million tonnes at a grade of 1.42 g/t containing 1,341,000 ounces of gold at a stripping ratio of 5.59:1 to be mined over an initial 12 year period. All necessary government permits and licences have been received. Construction has commenced and is scheduled for completion in the fourth quarter of 2014 when mill production will begin.

The current average annual production for the first five years is approximately 141,000 ounces of gold per year at an average operating cash cost of $525 per ounce and for the life of mine, approximately 112,000 ounces of gold per year at an average operating cash cost of $689 per ounce.

BTO shares gained 11 cents to $3.76 on volume of 3.25 million.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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