In a dramatic twist, shares of Canadian gold producer B2Gold plunged by 6.5% on Monday following a sobering update regarding its operations in the far north of Canada.

The Vancouver-based company announced a revision to its production expectations for the newly launched Goose Mine in Nunavut, impacting its outlook for 2025.

Production Guidance Slashed!

B2Gold reiterated its overall ambitions to produce between 970,000 and 1,075,000 ounces of gold across all its mines. However, the Goose Mine, which just started production earlier this month, will see its output estimates slashed from an anticipated 120,000 to 150,000 ounces down to a more conservative 80,000 to 110,000 ounces.

The company pointed to a recent "capacity shortfall" at the Goose Mine’s crushing plant as the culprit behind this significant downgrade.

Positive Outlook Amidst Challenges

Despite the setback, B2Gold remains optimistic. They affirmed that the mine is on track to achieve commercial production in the coming weeks and predict robust gold production to pick up by Q4 of 2025.

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