B2 Gold Corp (BTO)

[NYBob]

B2Gold Reports Rise In 4Q Adjusted Net Income
Allen Sykora
Allen Sykora Wednesday March 13, 2019 09:1

https://www.kitco.com/news/2019-03-13/Gold-Silver-Mining-Daily-News-Briefs.html


B2Gold Corp. (TSX: BTO, NYSE American: BTG; NSX: B2G), benefiting from the first full year of commercial production from its Fekola Mine in Mali, reported that fourth-quarter adjusted net income jumped to $14 million, or a penny per share, from $6 million, also a penny, in the same period a year ago. The company recorded a loss of $50 million, or 6 cents, compared to net income of $34 million, or 3 cents, in the fourth quarter of 2017, mainly as a result of impairment charges and mineral property write-offs. During 2018, B2Gold recorded a net impairment charge of $55 million, mainly for the La Libertad Mine in the third and fourth quarters and the sale of the Mocoa porphyry copper-molybdenum deposit in the second quarter. Fourth-quarter output was 231,687 gold ounces, with 105,280 coming from Fekola. For full-year 2018, adjusted net income was $162 million, or 16 cents, compared to $52 million, or a nickel, in 2017. Net income was $45 million, or 3 cents, compared to $62 million, or 6 cents, for 2017. B2Gold lists consolidated gold production of 953,504 ounces in 2018, near the top end of its revised guidance range. The annual increase was 322,939 ounces, which was 51% more than 2017, making this the 10th consecutive year that B2Gold achieved record production. Consolidated all-in sustaining costs of $758 per ounce were below guidance. The new Fekola mine outperformed expectations, with production of 439,068 ounces, exceeding the upper limit of its already-increased guidance range, the company says. Meanwhile, Fekola’s AISC of $533 per ounce was below guidance. Additionally, the Masbate Mine in the Philippines posted record annual gold production of 216,498 ounces. “Looking forward, B2Gold remains well positioned for continued strong operational and financial performance with production guidance of between 935,000 and 975,000 ounces of gold for 2019 with forecast …AISC of between $835 and $875 per ounce,” the company says.

By Allen Sykora of Kitco News; [e-mail]

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