B2Gold (BTO.TO, NYSEMKT:BTG) announced the production has resumed at their Masbate gold mine in the Philippines as of last Saturday. The company halted the production approximately three weeks ago after B2Gold discovered (minor) leaks in the process plant tailings line. According to the company, less than 100 cubic metres were spilled but captured in an emergency pond.
As the company had to suspend its production for about two weeks, the Q2 production numbers will obviously be affected. B2Gold has updated its production guidance and now expects to produce approximately 7,000 ounces less than forecasted. According to the company, the FY 2012 production will remain unaffected, and Masbate should produce between 175,000 and 185,000 ounces of gold this year.
> Click here to read the press release
Disclosure: The author holds no position in B2Gold. Please see our disclaimer for current positions.
