B2Gold Reports Record Third Quarter 2018 Gold Production; Quarterly Gold Production Increase of 78% to 242,000 oz as Gold Revenues Increase by 110% ($170 M) to $324 M Over the Same Period in 2017 Vancouver, British Columbia--(Newsfile Corp. - October 11, 2018) -
B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce its gold production and gold revenue for the third quarter and first nine months of 2018. All dollar figures are in United States dollars unless otherwise indicated.
Submitted by cpowell on 03:56PM ET Wednesday, January 16, 2019. Section: Daily Dispatches By Henry Sanderson and Neil Hume Financial Times, London Monday, January 15, 2019
If gold is anything to go by, investors are increasingly anxious about the state of the world.
Volatile equity markets and fears of a global economic slowdown have helped gold rally 10 per cent from its August lows, putting it among the best performing metals over that period.
It is a sharp contrast to much of the past two years, when rising US interest rates, a strong dollar, and buoyant equity markets hurt gold bugs and the shares of miners such as Barrick Gold, Newmont Mining and Goldcorp. And when there was a correction in US stocks in early 2018, the gold price failed to benefit.
Almost a year on, the big question is whether 2019 could prove a profitable year to own gold, which is typically bought as hedge or haven by investors. The amount of physical gold in exchange traded funds has risen to 71.9 million ounces, close to the record high of 72 million touched in May 2018.
"We havent seen flows like this since the first half of 2016, when the gold market really took off," says Joe Foster, a portfolio manager at VanEck in New York.
"There seems to be a change in sentiment and investor psychology. People are waking up to the fact that we are late in the economic cycle and we could be ending it in the next year or two. That brings more risk into the system. That's why gold is moving up." ...
Some investors believe rising concerns over US debt levels could sharpen golds allure, according to John Hathaway, a senior portfolio manager at Tocqueville Asset Management in New York.
Last week Fitch Ratings warned that a continued government shutdown in the US could lead to a credit downgrade on the countrys debt, which is rated AAA by the agency.
"The US is beginning to sport a debt-to-GDP ratio worthy of any banana republic," says Mr Hathaway. "We believe that exposure to gold is both timely and potentially rewarding."
Higher levels of debt will also make it hard for the Fed to raise rates and tighten monetary policy, adds Trey Reik, a senior portfolio manager at Sprott Asset Management in Connecticut.
"I do think the dollar is in the midst of a long-term weakening," he says. "You cannot raise rates with that much debt in the system without causing economic collapse."
The buying of gold by central banks is also at its highest level since 2015, as many authorities remain keen to diversify away from the dollar. ...
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
B2Gold’s beats first quarter production targets MINING.com Editor | about 9 hours ago |
B2Gold’s Masbate gold mine in the Phillippines. Image by B2Gold.
B2Gold’s (TSX: BTO NSX: B2G) stock was up over 2% Wednesday afternoon after reporting strong results on both its gold production and gold sales for the first quarter of 2019.
Consolidated gold production was 230,859 ounces, 6% (12,704) ounces above target. Gold production from B2Gold’s Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, the company reported.
The Fekola Mine in Mali and the Masbate Mine in the Philippines both achieved above targeted production for the quarter.
For the first quarter of 2019, the Fekola Mine produced 110,349 ounces of gold, above budget by 6% (6,724 ounces), and the Masbate Mine produced 57,481 ounces of gold, above target by 15% (7,490 ounces). Compared to the prior-year quarter, gold production was slightly lower, by 8,825 ounces.
Consolidated gold revenue dropped in the first quarter of 2019 from the same quarter last year. Revenue was $302 million on sales of 232,076 ounces at an average price of $1,300 per ounce compared to $344 million on sales of 259,837 ounces at an average price of $1,325 per ounce in the first quarter of 2018.
Gold sales of 232,076 ounces in the first quarter of 2019 were 6% (13,564 ounces) above budget. Compared to the prior-year quarter, the decrease in revenue related mainly to the timing of gold shipments.
At market close Wednesday, B2Gold’s shares were up 2.25%, trading at C$3.63 on the TSX. The company has a C$3.64B market capitalization.
Gold$1,271.28-0.58% Silver$14.95-0.60% More in markets
Well-supported explorer Aurion Resources (TSX: AU) says B2Gold has exercised its option to acquire a 51% interest in a 25,000ha joint venture in Finland, which includes the Kutuvuoma and Ahvenjarvi projects.
B2Gold exercises option on Aurion projects B2Gold is taking a 51% stake in Aurion’s Kutuvuoma and Ahvenjarvi gold projects in Finland
Finance > M-a 22 August 2019 CommentsShare Aurion said B2Gold had spent more than C$5 million (US$3.7 million) on exploration since the 2016 agreement, paid $50,000 in cash and issued 550,000 shares.
News 
Market Data 
Discover 
