BofA lowered the firm’s price target on B2Gold (BTG) to C$3.30 from C$4 and keeps an Underperform rating on the shares after the company provided an updated life of mine plan and updated reserve and resource estimate for its Goose gold project in Canada. Mineral reserves by contained gold declined by 31%, reducing the reserve life to 9 years from 15, and unit costs increased substantially, says the firm, which updates its model for the new Goose plan and reduce its net asset value estimate by 19%.
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Read More on BTG:
- B2Gold Updates Goose Project Plan with Enhanced Gold Production Outlook
- B2Gold announces updated mineral reserve life of Mine Plan for Goose project
- B2Gold price target raised to $3.60 from $3.30 at CIBC
- B2Gold Completes Major Solar Expansion at Fekola Mine
- Unusually active option classes on open March 18th
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