B2Gold revenues increase to $285 Million
According to B2Gold Corp. its quarterly consolidated gold production of 240,093 ounces, a significant increase of 98% (or 118,645 ounces) over the same period last year and 7% (or 16,308 ounces) above budget, due to the continued strong performances of the Fekola Mine in Mali, Masbate Mine in the Philippines and the Otjikoto Mine in Namibia
Consolidated gold revenue of $285 million, a significant increase of 73% (or $121 million) over the same period last year. Fekola Mine continued to operate above plan, producing 112,644 ounces of gold in the quarter, 11% (or 11,225 ounces) above budget, based on Fekola’s strong year-to-date performance, Fekola’s annual production guidance has been revised higher to be between 420,000 to 430,000 ounces of gold (original guidance was between 400,000 to 410,000 ounces).
Masbate Mine continued its remarkable safety performance, extending the number of days without a Lost-Time-Injury to 989 days at the end of the second quarter of 2018. The 2018 Mali exploration budget has been increased by $4 million (from $15 million to $19 million), based on good drill results to date, to accelerate the current Fekola North Extension zone drill program.
In the row, H1 2018 consolidated gold production of 479,777 ounces, 7% (or 32,560 ounces) above budget and 89% (or 225,593 ounces) higher than the first-half of 2017. Record consolidated first-half gold revenue of $629 million on record sales of 480,575 ounces at an average price of $1,309 per ounce.
B2Gold is well on target to achieve transformational growth in 2018 and has revised its annual gold production guidance higher to between 920,000 and 960,000 ounces (original guidance was between 910,000 and 950,000 ounces) in 2018.
