B2Gold hits record gold output in 2018 thanks to new Mali mine - Cecilia Jamasmie | about 4 hours ago |
B2Gold hits record gold output in 2018 thanks to new Mali mine
Fekola is located near Mali’s border with Senegal, and about 520 km from the country’s capital, Bamako. (Image courtesy of B2Gold Corp.)
Mid-tier Canadian miner B2Gold (TSX:BTO)(NYSE: BTG) reported Wednesday record gold production in 2018 of 953,504 ounces, a figure the company says was near the top end of the revised guidance of between 920,000 and 960,000 ounces.
This is the 10th consecutive year the Vancouver-based miner achieves record annual production, with output this time climbing 51% thanks to the contribution of its 80%-owned Fekola mine in southwestern Mali.
This is the 10th consecutive year the Vancouver-based miner achieves record annual production, with output this time climbing 51%. Full-year consolidated gold revenue totalled $1.2 billion ore 92% more than in 2017, marking a new company record.
In its first full year of commercial production, Fekola exceeded expectations, as it produced 439,068 ounces, while B2Gold expected a maximum of 430,000 ounces.
The company’s Masbate mine in the Philippines also topped guidance, achieving record yearly gold production of 216,498 ounces.
B2Gold’s other African asset, the Otjikoto in Namibia, produced 167,346 ounces, reaching the mid-point of its production guidance range.
For 2019, the miner forecasts gold production of between 935,000 and 975,000 ounces at all-in sustaining costs estimated at between $835 and $875 per ounce.
The company noted it planned a year of aggressive exploration, with a budget of approximately $43 million, from which almost half will be spent in Mali, Burkina Faso and Ghana.
B2Gold: Fekola Mine Seems To Be Firing On All Cylinders Nov. 26, 2018 4:40 AM ET | About: B2Gold Corp. (BTG) Aitezaz Khan (534 followers)
Summary BTG has delivered strong financial and operational performance during Q3.
Analysts' opinion and the technical chart also suggest more upside to the stock.
A positive development in the Fekola mine indicates a potential increase in shareholder value.
Increased FCFs are a support for the expansion of other mining properties.
Thesis: During Q3 2018, B2Gold Corporation (BTG) reported revenue of ~$324 MM and EPS of $0.05 in line with guidance. BTG's Q4 revenue witnessed a healthy ~110% increase Y/Y. On the operational side, the company reported record production of ~242 Koz (read: thousands of ounces) of gold that was ~78% in excess of the gold production reported in Q3 2017. These favourable numbers indicate that BTG is on track to improve its financial and operational performance in the coming quarters.
Figure-1 (Source: FinancialsTrend)
In this article, I have briefly discussed the operational and financial performance during Q3 and the significant developments on BTG's major mining operations. The article discusses the resource potential of BTG's recently acquired flagship asset in Mali, namely the FM (read: Fekola mine). The FM has surprised us in terms of exploration results, gold production, and low-cost mining. With support from gold prices and positive production results from BTG's other mining assets, I see a great opportunity for BTG to witness share price growth, going forward.
Financial and operational performance at a glance: During Q3, revenue stood at $324 MM (Q3 2017: $154 MM) from the sale of ~269,000 oz of gold (Q3 2017: 122,000 oz). The company produced ~242,000 oz and had to sell some of its existing gold inventories to pay the convertible notes on October 1st. The sales were partially affected by a decline in the average price of gold. In Q3 2018, BTG realized an average price of ~$1,206/oz of gold that was substantially lower than the average price realized in Q3 2017 (~$1,267/oz).
Guest(s): Clive Johnson President & CEO, B2Gold It could potentially be “dangerous” to rely on higher gold prices to be profitable as a miner, said Clive Johnson, CEO of B2Gold. “I’ve never been a gold bug, I’ve never believed that gold has to go higher, because I think that as a CEO of a gold mining company that would be a dangerous thing, because you could potentially do a deal that wasn’t great because you’re thinking gold’s going to save your butt by going higher,” Johnson told Kitco News on the sidelines of the BMO Global Metals & Mining Conference. (show less)
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.
B2Gold outlines preliminary plans for $901m mine with AngloGold in Colombia 21ST JANUARY 2020
BY: MARIAAN WEBB CREAMER MEDIA SENIOR RESEARCHER AND DEPUTY EDITOR ONLINE
Canadian miner B2Gold has published a preliminary economic assessment (PEA) for its Gramalote joint venture (JV) with South Africa’s AngloGold Ashanti in Colombia, outlining plans for an openpit mine that will yield 3.85-million ounces over its 13.6-year mine life.
The PEA is based on a yearly processing rate of 11-million tons, with an average life-of-mine (LoM) gold recovery of 94.3%.
B2Gold Donates 1,000 Ounces of Gold to Conservation Initiative to Protect Endangered Black Rhino in Southern Africa :-)) T.BTO | 2 hours ago VANCOUVER, Feb. 18, 2020 /CNW/
B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) ("B2Gold" or the "Company") is pleased to announce a ground-breaking donation of 1,000 ounces of gold, with a value of approximately US$1.5 million, to support black rhino conservation and the communities that protect them in Namibia, Southern Africa.
Today, the northwest of Namibia is home to the last and largest free-roaming population of black rhinos in the world. Their home is an area of 25,000 square kilometers, with no national park status, few roads and no control over who comes in or out. The recovery of this population of black rhino is due to the dedication of the organizations and communities that have committed themselves to the protection of black rhinos in northwestern Namibia. A rhino-based economy has developed in Namibia's northwest, with rhino tracking central to tourism development that in turn provides jobs, income and hope for the future for Namibians.
The Rhino Gold Bar initiative was recently launched at two separate events attended by high-level government officials and conservationists in Windhoek, Namibia and in Cape Town, South Africa, at the Indaba mining conference. In making the announcement, Clive Johnson, President and CEO of B2Gold, outlined the Company's goal of redefining conservation financing stating, "The donation represents the first time that gold, a natural resource from the ground, is being used to provide sustainable funding to community-backed initiatives for the protection of the iconic black rhino, a critically-endangered global treasure."
The 1,000 ounces of gold was produced at B2Gold's Otjikoto gold mine located in Namibia. With this donation, 1,000 limited-edition Rhino Gold Bars in varying sizes will be produced and available for sale to the public. On the reverse of the Rhino Gold Bar, a black rhino mother and calf is represented, symbols of hope for the future of the species. The obverse shows the Namib desert, an evocative and recognizable image strongly associated with Namibia.
The Rhino Gold Bars are available for purchase through a third-party at the spot price of gold on the date of sale plus a 15% conservation premium, and will be available in 500 gram, 1 ounce and ½ ounce denominations. The proceeds from the sale of the Rhino Gold Bars will be managed by B2Gold and an Advisory Committee, which includes representatives from Save the Rhino Trust Namibia, Integrated Rural Development and Nature Conservation, Namibia Chamber of Environment, and the Namibia Ministry of Environment and Tourism. The conservation premium will be used to fund the production of a follow-up range of gold bars or coins, which will be distinctly different from the first 1,000 Rhino Gold Bars, ensuring that this ground-breaking initiative remains self-sustaining. A portion of the proceeds will be invested to provide long-term sustainable financing for black rhino conservation, while significant funding will be applied immediately to conservation actions in the field, including support for patrols, intelligence activities, and to support rural communities for whom the protection of rhinos is their birthright.
B2Gold is a responsible mining company that demonstrates leadership by going beyond industry standards and continuing to raise the bar on its own performance. The Company's principles of fairness, respect, transparency and accountability are part of the Company's corporate culture and are applied globally across its Corporate Social Investment projects. Not only is the Company committed to minimizing the impact on the land in areas where it operates, it also invests in projects that have nothing to do with mining and everything to do with the protection of the planet and the quality of life for future generations.
For more information on the Rhino Gold Bar and how to purchase, please view the information package on B2Gold's website at www.b2gold.com or by sending an email to rhino@b2gold.com.
About B2Gold Corp.
B2Gold is a low-cost, international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, and numerous exploration and development projects in various countries. In 2020, B2Gold forecasts consolidated gold production of between 1,000,000 and 1,055,000 ounces.
On Behalf of B2GOLD CORP. "Clive T. Johnson" President & Chief Executive Officer
For more information on B2Gold, please visit the Company website at www.b2gold.com or contact:
Ian MacLean
Katie Bromley
Vice President, Investor Relations
Manager, Investor Relations & Public Relations
+1 604-681-8371
+1 604-681-8371
imaclean@b2gold.com
kbromley@b2gold.com
The Toronto Stock Exchange and the NYSE American LLC neither approve nor disapprove the information contained in this news release.
This news release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable Canadian and United States securities legislation, including statements regarding the availability of the Rhino Gold Bars for purchase and the management of the proceeds from the sale of the Rhino Gold Bars. All statements in this news release that address events or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, although not always, identified by words such as "expect", "plan", "anticipate", "believe" and similar expressions or their negative connotations, or that events or conditions "will", "would", "may", "could", "should" or "might" occur. All such forward-looking statements are based on the opinions and estimates of management as of the date such statements are made. Forward-looking statements necessarily involve assumptions, risks and uncertainties, certain of which are beyond B2Gold's control, including those identified and as described in more detail under the heading "Risk Factors" in B2Gold's most recent Annual Information Form, the Company's current Form 40-F Annual Report and B2Gold's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which may be viewed at www.sedar.com and www.sec.gov, respectively. There can be no assurance that such statements will prove to be accurate, and actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements. The Company does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law.
B2Gold Corp (BTG) Ex-Dividend Date Scheduled for September 21, 2020 CONTRIBUTOR Nasdaq.com PUBLISHED SEP 18, 2020 9:00AM EDT
B2Gold Corp (BTG) will begin trading ex-dividend on September 21, 2020. A cash dividend payment of $0.04 per share is scheduled to be paid on September 30, 2020. Shareholders who purchased BTG prior to the ex-dividend date are eligible for the cash dividend payment. This represents an 100% increase over prior dividend payment. At the current stock price of $6.97, the dividend yield is 2.3%.
The previous trading day's last sale of BTG was $6.97, representing a -7.68% decrease from the 52 week high of $7.55 and a 222.69% increase over the 52 week low of $2.16.
BTG is a part of the Basic Industries sector, which includes companies such as BHP Group Limited (BHP) and Rio Tinto Plc (RIO). BTG's current earnings per share, an indicator of a company's profitability, is $.41.
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