Majority of B2Gold’s mines outperform guidance in strong first quarter – by Nadine James (MiningWeekly.com – April 18,2019)

https://m.miningweekly.com/

SX-listed B2Gold exceeded its first-quarter production and sales guidance by 6%, producing 230 859 oz and selling 232 076 oz of gold.

The Fekola, Masbate, Otjikoto and El Limon mines all exceeded their targeted production, with the Mali-based Fekola and the Philippines-based Masbate mines, having produced 6% and 15% above guidance, respectively.

The consolidated gold revenue of $302-million generated for the sale of 232 076 oz of gold at an average price of $1 300/oz was lower than the $344-million in revenue generated from the sale of 259 837 oz at an average price of $1 325/oz in the first quarter of 2018.

B2Gold explained that the year-on-year dip in first-quarter revenue related mainly to the timing of gold shipments, as last year’s first quarter benefitted from the additional sale of about 20 000 oz generated from the net drawdown of gold inventories that built up in late 2017.

Given the quarter’s gold production outperformance at Fekola and Masbate, B2Gold anticipates full-year consolidated gold production in the range of 935 000 oz to 975 000 oz, with cash operating costs forecast to be between $520/oz and $560/oz and all-in sustaining costs (AISC) forecast at between $835/oz and $875/oz.

For the rest of this article: https://m.miningweekly.com/article/ajority-of-b2golds-mines-outperform-guidance-in-strong-first-quarter-2019-04-18/rep_id:3861

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