Make Kitco Your Homepage

B2Gold Reports Higher-Than-Projected 3Q Production

Kitco News

B2Gold Corp. (TSX: BTO; NYSE: BTG; NSX: B2G) reports gold production in the third quarter was 135,628 ounces, including 6,340 ounces of pre-commercial production from the newly constructed Fekola Mine in Mali. Consolidated output exceeded the original budget by 2% (or 2,254 ounces) and reforecast production by 15% (or 17,372 ounces). “The better-than-budgeted and reforecast consolidated gold production reflects the continued very strong operational performances of both the Masbate Mine in the Philippines and Otjikoto Mine in Namibia as well as the successful early start-up of the Fekola Mine in September,” the company says. The Fekola mill is expected to ramp up to commercial production by the end of the fourth quarter. B2Gold says it is on track to meet the high end of its revised annual consolidated production guidance range of between 530,000 and 570,000 ounces of gold at all-in sustaining costs of between $940 and $970 per ounce. Consolidated gold revenue in the third quarter was $154.1 million on sales of 121,597 ounces at an average price of $1,267 per ounce, compared to $193 million on sales of 145,029 ounces at an average price of $1,331 per ounce in the third quarter of 2016. The 20%, or $38.9 million, decrease in revenue was mainly due to a 16% decrease in sales volume due to the timing of gold shipments and lower production, and a 5% decrease in the average realized gold price, B2Gold says.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Wesdome On Track To Meet 2017 Output Guidance

Friday October 13, 2017 08:29

Wesdome Gold Mines Ltd. (TSX: WDO) reports third-quarter gold production of 15,493 ounces. Duncan Middlemiss, president and chief executive officer, says the company is on track to meet its 2017 guidance range of 52,000 to 58,000 ounces of gold.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News