RE:January 2015 cost @$612USD per
Here you go! And yes...a brilliant release. Too bad that those in the know are (too?) focused on Nicaragua: Mr. Clive Johnson reports B2GOLD CORP. ANNOUNCES COMMERCIAL GOLD PRODUCTION AHEAD OF SCHEDULE AT OTJIKOTO GOLD MINE, NAMIBIA B2Gold Corp.'s new Otjikoto gold mine in Namibia achieved commercial production, ahead of schedule, on Feb. 28, 2015. The ramp-up of production continues well ahead of budget. The open-pit Otjikoto gold mine poured first gold on Dec. 11, 2014, one week ahead of schedule. In January, 2015, the project continued its strong ramp-up to commercial production ahead of schedule and produced 8,587 ounces against a budget of 8,267 ounces. Better-than-budgeted performance was attributed to additional mill availability (89.6 per cent versus budget of 70 per cent) and better-than-anticipated throughput (34 per cent above budget). February, 2015, also saw gold production ahead of budget (10,228 ounces produced versus 8,863 ounces budgeted). This was a product of better grade than January at 1.57 grams per tonne (versus budget of 1.71 grams per tonne), better mill recoveries at 97.82 per cent (versus budget of 96.17 per cent) and better mill availability at 91.7 per cent for the month (versus budget of 82 per cent). Based on the performance of the mill, and the fact that the company met commercial production criteria of 30 consecutive days of mill throughput of 65 per cent of faceplate capacity by Feb. 28, 2015, the Otjikoto gold project is declaring commercial production as of that date. Operating cash costs for the month of January were $612 (U.S.) per ounce versus a budget of $705 (U.S.) per ounce. For 2015, Otjikoto is expected to produce between 140,000 to 150,000 ounces of gold at a cash operating cost of approximately $500 to $525 per ounce and all-in sustaining costs of approximately $700 per ounce. The company expects annual gold production to increase to approximately 200,000 ounces in 2016 and 2017. Expansion of the Otjikoto mill from 2.5 million tonnes per year to three million tonnes per year continues on schedule, with the installation of the first additional leach tank to be completed during the first quarter of 2015. Major additional work that must be completed includes installation of a second leach tank, construction of a pebble crusher, and associated piping and pumping components. It is anticipated that this work will be completed by Aug. 31, 2015. This will support additional throughput initially from the Otjikoto mine and subsequently from the fully permitted Wolfshag deposit, which is located immediately adjacent to the main, Otjikoto deposit. The project continued the excellent health and safety record with no lost-time accidents for the months of January and February, 2015. The company would like to thank the B2Gold construction team for its outstanding work in constructing the Otjikoto mine and mill facilities on budget and ahead of schedule. The high quality of construction has resulted in the rapid ramping up of production at Otjikoto. The B2Gold construction team has commenced road and site construction preparation at the company's next planned mine, the recently acquired Fekola project in Mali. The company will release the results of the feasibility study at Fekola in June, 2015. Based on current assumptions, the Fekola mine has the potential to produce approximately 300,000 ounces of gold per year commencing in early 2018.