VANCOUVER – B2Gold produced a record 242,020 oz. of gold in 2018’s third quarter, 78% higher than in the same quarter of the previous year. It attributed its success to strong performances from the Kekola mine in Mali, the Masbate mine in the Philippines, and the Otjikoto mine in Namibia.
The company reported US$324 million in gold revenue, 110% higher than in the same quarter of the previous year. It reduced cash operating costs by 10% to US$504 per oz. and all-in sustaining costs by 19% to US$792 per oz., compared with the same quarter of the previous year.
At the same time the company has increased its 2018 guidance for the Masbate gold mine. B2Gold is now predicting the mine will produce 200,000 to 210,000 oz. of gold in 2018, up from 180,000 to 190,000 oz.
In the first nine months of 2018, the company has produced more than 721,000 oz., an 85% increase over the first nine months of 2017. On the year, it expects to produce as much as 960,000 oz. of gold at cash operating costs as low as US$505 per oz. and all-in sustaining costs as low as US$780 per oz..
While the company increased its 2018 production guidance by 20,000 oz. of gold at both its Fekola and Masbate mines to as much as 430,000 oz. gold and 210,000 oz. gold, it also decreased production guidance by 25,000 oz. gold at its La Libertad mine to as much as 95,000 oz. gold and by 5,000 oz. gold at its El Limon mine to as much as 55,000 oz. It predicts all-in sustaining costs will rise at both La Libertad and El Limon as well.
Shares of B2Gold are trading at $3.48 with a 52-week range of $2.77 to $4.06. The company has a $3.3 billion market capitalization.
This story first appeared on www.NorthernMiner.com.
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