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 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).
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