B2Gold 2Q Output Doubles; Fekola Produces Above Forecast
Allen Sykora Allen Sykora
Wednesday July 11, 2018 08:28
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B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG; NSX: B2G) reports that
second-quarter gold production was roughly double the same period a
year ago as the company’s new Fekola gold mine in Mali exceeded
Consolidated output was a quarterly record 240,093 ounces, a jump of
98% (or 118,645 ounces) from the year-ago quarter and also
7% (or 16,308 ounces) above budget, B2Gold says.
The company cites “strong performances” by the Fekola mine,
Masbate in the Philippines and Otjikoto in Namibia.
B2Gold also reports consolidated gold revenue of $285 million,
up 73% year-on-year.
The Fekola mine produced 112,644 ounces of gold in the second quarter,
11% (or 11,225 ounces) above budget.
The company says Fekola’s annual production guidance has been revised
higher to be between 420,000 to 430,000 ounces of gold (original
guidance was between 400,000 to 410,000 ounces).
“B2Gold remains well on target to achieve transformational growth in
2018,” the company says.
“For full-year 2018, with the planned first full-year of production
from the Fekola Mine, consolidated gold production is forecast to be
between 920,000 and 960,000 ounces (revised higher from the original
guidance range of between 910,000 and 950,000 ounces).
This represents an increase in annual consolidated gold production of
approximately 300,000 ounces in 2018 from 2017.”
Further, the company’s forecast calls for all-in sustaining costs to
decrease by approximately 6% from 2017.
By Allen Sykora of Kitco News; firstname.lastname@example.org http://www.kitco.com/news/2018-07-11/Gold-Silver-Mining-Daily-News-Briefs.html
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