VANCOUVER, July 13, 2020 /CNW/ – B2Gold Corp. (TSX: BTO) (NYSE: BTG) (NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce its gold production and gold revenue for the second quarter and first half of 2020. All dollar figures are in United States dollars unless otherwise indicated.
2020 Second Quarter Highlights
- Consolidated gold production of 239,574 ounces, above budget by 3% (7,327 ounces) and a significant increase of 15% (30,684 ounces) over the second quarter of 2019 (excluding discontinued operations of El Limon and La Libertad)
- Total gold production of 241,593 ounces (including 2,019 ounces of attributable production from Calibre Mining Corp. (“Calibre”))
- Record quarterly consolidated gold revenue from the Company’s three operating mines of $442 million, a significant increase of 65% ($175 million) over the second quarter of 2019 (excluding discontinued operations)
- No lost time injury (“LTI”) incidents at the Company’s operating mines during the second quarter; the Otjikoto and Masbate Mines continued their remarkable safety performance extending the number of days without a LTI to 826 days (well over 2 years) for Otjikoto and 592 days (well over 1.5 years) for Masbate as at June 30, 2020
- The Fekola Mine continues to operate unimpeded and no operational days have been lost due to the recent political developments and demonstrations in Mali
- On June 12, 2020, the B2Gold Board declared a cash dividend for the second quarter of 2020 of $0.02 per share, paid on July 7, 2020 to shareholders of record as of June 23, 2020
- B2Gold remains well positioned for continued strong operational and financial performance. Total consolidated production guidance remains at between 1,000,000 and 1,055,000 ounces of gold; total consolidated cash operating costs (see “Non-IFRS Measures”) are forecast to be between $415 and $455 per ounce and total consolidated all-in sustaining costs (“AISC”) (see “Non-IFRS Measures”) are forecast to be between $780 and $820 per ounce.
2020 First Half Highlights
- Record half-year consolidated gold production from the Company’s three operating mines of 490,206 ounces, well above budget by 5% (23,483 ounces) and a significant increase of 20% (80,774 ounces) over the first half of 2019 (excluding discontinued operations); with solid performances from all the Company’s operations (all exceeding their targeted production for the first half of the year)
- Total gold production of 506,455 ounces (including 16,249 ounces of attributable production from Calibre)
- Record half-year consolidated gold revenue from the Company’s three operating mines of $822 million, a significant increase of 55% ($291 million) over the first half of 2019 (excluding discontinued operations)
- Based on current assumptions, including a gold price of $1,700 per ounce for the balance of 2020, the Company expects to generate cashflows from operating activities of approximately $850 million in 2020
The Company has…