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B2Gold Reports 1Q Adjusted Profit; Output Above Budget

Kitco News

B2Gold Corp. (TSX: BTO; NYSE MKT: BTG; NSX: B2G) reports a small uptick in adjusted first-quarter net income, with gold output ahead of expectations. Adjusted earnings were $19.4 million, or 2 cents per share, compared to $18.9 million, also 2 cents, in the prior-year quarter. The company generated a net loss of $4.6 million, or a penny per share, compared to net income of $6.7 million, or 1 cent, in the same quarter last year. Consolidated gold production of 132,736 ounces was 6% (7,955 ounces) above budget and 4% (4,892 ounces) higher than the same period in 2016. Consolidated all-in sustaining costs of $889 per ounce were $262 per ounce, or 23%, below budget. B2Gold says it is on track to meet its 2017 annual guidance of between 545,000 to 595,000 ounces of gold production. Fekola mine construction remains three months ahead of schedule for an anticipated Oct. 1 production start, with the project also on budget. In 2018, with the planned first full-year of production from Fekola, the company projects consolidated gold production will increase significantly to between 900,000 and 950,000 ounces.

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

 

Richmont Mines Records Profit In First Quarter

Thursday May 4, 2017 09:30

Richmont Mines Inc. (TSX, NYSE: RIC) reports first-quarter earnings of earnings of C$5.5 million, or US$4.1. In Canadian dollar terms, earnings were 9 cents per share, compared to 15 cents in the same period a year ago. In U.S. dollar terms, earnings per share were 7 cents, compared to 11 cents a year ago. Company-wide production was 29,401 ounces of gold, down from 32,369 in the same period of 2016. “The ongoing transformation of the Island Gold Mine continues to advance and we remain on schedule to release our expansion case preliminary economic assessment in the second quarter, which will support our overall objective of positioning the Island Gold Mine as one of the lowest-cost underground gold producers in the Americas," says Renaud Adams, chief executive officer.

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

 

Alamos Reports Rise In 1Q Output; Earnings Per Share Zero Cents

Thursday May 4, 2017 09:30
 
Alamos Gold Inc. (TSX, NYSE: AGI) reports first-quarter net earnings of $0.1 million, or zero cents per share, which includes an unrealized foreign-exchange gain of $5.9 million. Earnings in the same period a year ago were $9.7 million. Alamos says it generated cash flow from operating activities, before changes in working capital, of $34.2 million, or 12 cents per share. The company reports gold output of 96,200 ounces, up from 94,632 in the same period of 2016. "We had a solid start to the year operationally and with stronger production and lower costs expected through the rest of 2017, we are on track to achieve full-year guidance across all metrics. We expect this to drive significant free cash flow growth from our operations, especially in the second half of 2017 as we benefit from higher throughput rates at Young-Davidson and initial production from La Yaqui," says John A. McCluskey, president and chief executive officer. Gold production is expected to range between 400,000 to 430,000 ounces at all-in sustaining costs of $940 per ounce in 2017. The company declared a semi-annual dividend of a penny per share. Construction of La Yaqui Phase I continues, with initial production on track for the second half of 2017.

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