Yes looks like a resource number that is decent but no so good...

Yes looks like a resource number that is decent but no so good that it could support a project on its own. Maybe they have some lower cost sweet spots at the rest of Kiaka that they could mine and combine to get an economic project up but I just can't see it. Keep in mind that B2Gold are on the cusp of 'major' producer status with almost 1Moz production forecast in 2018. The bigger you get the more it takes to excite the market, so I very much doubt B2 will want a 100-150kozpa standalone project.

If however they were to combine with WAF's assets with Toega then you get to a reserve likely exceeding 3Moz at low production costs. Then they could build a bigger mill or extend the mine life out to 12-15 years. A bigger mill of say 3.5 Mtpa would be more useful for processing additional district exploration ounces , or when the rest of Kiaka becomes economic, assuming rising gold prices in the future.