B2Gold Corp. (
TSX: T.BTO,
Stock Forum) rose 4.9% to $2.14 Wednesday in active trading of 3.4 million shares after the company said it has secured a new US$350 million revolving credit facility.
Proceeds from the loan will be used to repay the company’s existing $200 million revolving credit facility,
B2Gold said in a press release.
The company also said its believes that closing of the new revolving credit facility, coupled with anticipated operating cashflows from its existing mine operations will provide the company with adequate resources both to maintain its operations and fund construction of the Fekola Project in Mali, West Africa.
Based on current assumptions, the Fekola Project should produce in excess of 300,000 ounces of gold per year, with the first full year of production projected in 2018. A final feasibility study for the project is expected to be released in June, 2015.
With Fekola on line B2Gold is expected to produce approximately 900,000 ounces of gold in 2018.