Canadian Mining Journal

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GOLD: Fekola mine pushes B2Gold to record quarter



The new Fekola open pit mine and mill has a guidance between 420,000 and 430,000 oz. of gold for 2018. (Image: B2Gold Corp.)

VANCOUVER – B2Gold Corp. concluded a record breaking half year, thanks to production from the new low cost Fekola gold mine in Mali. The mine came on stream in November last year and has performed above expectations ever since.

Total gold output in the second quarter of the year was 240,093 oz., almost double  compared to the same quarter a year earlier. Gold revenue was 73% higher than Q2 a year earlier year at US$285 million. Consolidated cash costs were US$474 per ounce, 15% below budget and 25% lower than Q2 2017. All-in sustaining costs US$721 per ounce 17% below budget and 26% lower than Q2 2017.

Similar results were seen in the first half of 2018 – production up, revenue up, and costs down.

B2Gold has revised its guidance for 2018, what it calls a year of “transformational growth.” Gold output is expected to be between 920,000 and 960,000 oz., up 10,000 oz. Cash costs are expected between $505 and $550 per ounce, and AISC will be between US$780 and US$830 per ounce.

With the Fekola mine in full production, the company is concentrating on regional exploration as well as infill drilling below the mine’s reserve boundary. The probable reserve at Fekola is 38.7 million tonnes grading 2.35 g/t gold and containing 2.9 million oz. of gold. Contained gold at other mines – Masbate in the Philippines, Otjikoto in Namibia, as well as La Libertad and El Limon in Nicaragua – puts the total for all properties at more than 6.5 million oz.

Learn more about all of these gold operations at www.B2Gold.com.