Michael McCrae Michael McCrae
Tuesday May 05, 2020 20:32
Kitco NewsShare this article:
B2Gold (TSX:BTO) said today it had record quarterly total gold production of 264,862 ounces in Q1.
Revenue was up 44% to $380 million, also a record.
The quarterly consolidated cash flow provided by operating activities from the company's three operating mines was $216 million, also a record. Cash-flow was up $130 million or 151% over the first quarter of 2019.
The jump in gold production over the first quarter of 2019 was driven by the Fekola Mine in Mali, which had a strong start to the year with record quarterly gold production of 164,011 ounces, well-above budget by 9% (14,011 ounces) and 49% (53,662 ounces) higher compared to the first quarter of 2019. Fekola's significant increase in gold production over the first quarter of 2019 was mainly due to expansion of the Fekola mining fleet and optimization of the pit designs and mine plan for 2020, which have provided access to higher grade portions of the Fekola deposit earlier than anticipated in previous mine plans.
Consolidated all-in-sustaining-costs for the first quarter of 2020 were $695 per ounce sold, $110 lower than AISC in the first quarter of 2019. The favourable budget variance resulted from lower-than-budgeted cash operating costs and lower-than-budgeted sustaining capital and exploration expenditures (mainly due to timing and expected to be incurred later in 2020).
At the end of the first quarter of 2020, B2Gold's Calibre announced the temporary suspension of its Nicaraguan operations due to COVID-19. B2Gold has a 34% share of Calibre's production.
The company said it doesn't anticipate any other work stoppages due to COVID-19.
https://www.kitco.com/news/2020-05-05/B2Gold-touts-record-revenue-cashflow-gold-production.html
By Michael McCrae
For Kitco News
Follow michaelmccrae
Contact mmccrae@kitco.com
www.kitco.com
Recent BTG News
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 09/13/2024 02:29:07 PM
- B2Gold Announces Goose Project Update; Project Construction and Development on Track for First Gold Production in Q2 2025; Total Construction and Mine Development Cash Expenditure Estimate Before First Gold Production Revised to Reflect Current Timeline • GlobeNewswire Inc. • 09/13/2024 12:40:40 AM
- B2Gold Reaches Agreement on Terms with Mali Government Relating to the Framework for the Fekola Complex; Approvals for Fekola Regional and Fekola Underground to be Expedited • GlobeNewswire Inc. • 09/11/2024 11:45:14 PM
- Sweetgreen Rises 22% on Raised Forecasts, Doximity Jumps 30%, Rocket Lab Soars 14% on 71% Revenue Growth, and More • IH Market News • 08/09/2024 09:48:54 AM
- B2Gold Reports Q2 2024 Results and Updated 2024 Guidance • GlobeNewswire Inc. • 08/08/2024 11:00:03 PM
- U.S. Index Futures Drop, Signaling Ongoing Market Volatility; Oil Prices Stall • IH Market News • 08/08/2024 09:55:44 AM
- B2Gold Second Quarter 2024 Financial Results – Conference Call Details • GlobeNewswire Inc. • 07/23/2024 11:00:49 PM
- B2Gold Announces Voting Results from its 2024 Annual General and Special Meeting • GlobeNewswire Inc. • 06/22/2024 12:00:04 AM
- B2Gold Announces Sale of C$139 Million of Calibre Mining Shares • GlobeNewswire Inc. • 06/21/2024 10:30:48 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/20/2024 03:55:19 PM
- B2Gold Announces Initial Inferred Mineral Resource Estimate for the Springbok Zone of the Antelope Deposit at the Otjikoto Mine in Namibia • GlobeNewswire Inc. • 06/20/2024 11:30:19 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/20/2024 11:00:13 AM
- B2Gold Announces Positive Preliminary Economic Assessment Results for the Gramalote Project; After-Tax NPV (5%) of $778 Million with an After-Tax IRR of 20.6% • GlobeNewswire Inc. • 06/19/2024 02:30:13 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/06/2024 03:31:40 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/06/2024 03:20:08 PM
- B2Gold 2024 Annual General and Special Meeting: Leading Independent Proxy Advisory Firms, Glass Lewis and ISS, Recommend Shareholders Vote FOR All Proposed Items • GlobeNewswire Inc. • 06/06/2024 12:00:56 PM
- B2Gold and Sandbox Royalties Partner to Create Versamet Royalties; B2Gold Receives $90 Million Equity Interest in Versamet • GlobeNewswire Inc. • 06/06/2024 11:00:37 AM
- B2Gold Releases its Eighth Annual Responsible Mining Report and its Third Annual Climate Strategy Report • GlobeNewswire Inc. • 06/03/2024 09:45:11 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/13/2024 08:30:55 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/08/2024 01:55:14 PM
- B2Gold Reports Q1 2024 Results; Cash Operating Costs and All-In Sustaining Costs Below 2024 Annual Guidance Ranges; Update on Goose Project Following Successful Completion of 2024 Winter Ice Road Campaign • GlobeNewswire Inc. • 05/07/2024 10:20:00 PM
- B2Gold First Quarter 2024 Financial Results – Conference Call Details • GlobeNewswire Inc. • 04/15/2024 09:30:01 PM
- B2Gold Files Form 40-F and Supporting Documentation • GlobeNewswire Inc. • 03/15/2024 02:00:42 AM
- B2Gold Reports Strong Q4 and Full Year 2023 Results; Achieved 2023 Total Gold Production and Consolidated Cost Guidance; Q1 2024 Dividend of US$0.04 per Share Declared • GlobeNewswire Inc. • 02/21/2024 10:59:19 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/16/2024 11:02:00 AM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM