B2Gold 3Q sales 208K ounces of Gold
B2Gold announces its operational and financial results for the third quarter (3Q) and first nine months (9M) of 2019. 3Q 2019 record quarterly consolidated gold production of 258K ounces, including El Limon and La Libertad, well-above budget by 7% (15,807 ounces) and 7% (16,160 ounces) over the same period last year with solid performances from all of the Company's operations.
Consolidated gold revenues from continuing operations of $311 million on sales of 208,900 ounces; consolidated gold revenues of $382 million on sales of 256,670 ounces, including gold sales from El Limon and La Libertad.
Consolidated cash operating costs from continuing operations of $443 per ounce produced ($433 per ounce sold), well-below budget by $47 per ounce (10%); including El Limon and La Libertad, consolidated cash operating costs of $507 per ounce produced ($507 per ounce sold), below budget by $36 per ounce (7%).
On October 15, 2019, B2Gold and Calibre completed an agreement for B2Gold to restructure its interests in, and for Calibre to acquire, El Limon and La Libertad gold mines for aggregate consideration of $100 million.
Looking at 2019 First Nine Months (9M) & that record year-to-date consolidated gold production of 735,079 ounces (including El Limon and La Libertad), 7% (45,705 ounces) above budget and 2% (13,262 ounces) over the same period last year.
Consolidated gold revenues from continuing operations of $842 million on sales of 616,000 ounces consolidated gold revenues of $994 million on sales of 725,028 ounces, including gold sales from El Limon and La Libertad. Consolidated cash flow provided by operating activities of $347 million.
Debt repayments totaling $100 million on the outstanding balance of the Company's revolving credit facility (RCF) with a further $100 million expected to be repaid in the fourth quarter of 2019, which will leave an estimated drawn balance on the RCF of $200 million at December 31, 2019, and an estimated available balance of $400 million.
For full-year 2019, the Company forecasts consolidated gold production to come in towards the midpoint of its previously stated guidance range of between 935,000 and 975,000 ounces, with cash operating costs forecast to be at or below the lower end of the Company's $520 and $560 per ounce guidance range and AISC to be within the Company's $835 and $875 per ounce guidance range.
