B2 Gold Corp (BTO)

[NYBob]

B2Gold Corp. Reports Record 2016 Gold Production; Fekola Project Mine Construction Ahead of Schedule and
Now on Target for an October 2017 Production Start -

http://www.b2gold.com/news/2017/index.php?&content_id=334

Vancouver, British Columbia--(Newsfile Corp. - February 5, 2017) - B2Gold Corp. (TSX: BTO) (NYSE MKT: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce fourth quarter and full-year 2016 gold production and revenue as well as production and cash cost guidance for 2017. All dollar figures are in United States dollars unless otherwise indicated.

2016 Fourth Quarter Highlights

Consolidated gold production of 140,651 ounces, 7% (or 9,182 ounces) greater than the same period in 2015
Gold revenue of $181.2 million on record sales of 151,524 ounces at an average price of $1,196 per ounce, an increase in revenue of 30% (or $42.2 million) over the same period in 2015
Fekola project mine construction is ahead of schedule for an October 2017 production start and remains on budget
2016 Full-Year Highlights
Record annual consolidated gold production of 550,423 ounces of gold, achieving revised production guidance (of 535,000 to 575,000 ounces) and surpassing initial guidance (of 510,000 to 550,000 ounces)
Masbate Mine achieved record annual gold production of 206,224 ounces, 17% (or 30,421 ounces) higher than 2015
Otjikoto Mine achieved record annual gold production of 166,285 ounces, 14% (or 20,562 ounces) higher than 2015
Record annual consolidated gold revenue of $683.3 million on record sales of 548,281 ounces at an average price of $1,246 per ounce
Full-year consolidated cash operating costs are expected to be near the low end of the reduced cost guidance range of between $500 and $535 per ounce (initial guidance range was between $560 and $595 per ounce)
Full-year AISC are expected to be near the low end of the reduced guidance range of between $780 and $810 per ounce (initial guidance range was between $895 and $925 per ounce)
Signed a Euro 71.4 million Equipment Facility with Caterpillar Financial SARL for the Fekola project (funding subject to satisfaction of conditions precedent)
Additional positive exploration drill results reported for the Company's Mali and Burkina Faso greenfield targets
2017 outlook provides for forecast annual consolidated gold production of between 545,000 and 595,000 ounces, forecast cash operating costs of between $610 and $650 per ounce and forecast AISC of between $940 and $970 per ounce (including expected Fekola pre-commercial production of between 45,000 and 55,000 ounces)
2018 outlook provides for very strong production growth, with the planned first full-year of production from the Fekola project, consolidated annual gold production is expected to increase significantly and be between 900,000 and 950,000 ounces with cash operating costs and AISC expected to approximate the Company's 2016 revised cost guidance ranges (of $500 to $535 per ounce for cash operating costs and $780 to $810 per ounce for AISC)
2016 Operating Results

http://www.b2gold.com/news/2017/index.php?&content_id=334

- God Bless -