Make Kitco Your Homepage

B2Gold 2Q Output Doubles; Fekola Produces Above Forecast

Kitco News

B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG; NSX: B2G) reports that second-quarter gold production was roughly double the same period a year ago as the company’s new Fekola gold mine in Mali exceeded expectations. Consolidated output was a quarterly record 240,093 ounces, a jump of 98% (or 118,645 ounces) from the year-ago quarter and also 7% (or 16,308 ounces) above budget, B2Gold says. The company cites “strong performances” by the Fekola mine, Masbate in the Philippines and Otjikoto in Namibia. B2Gold also reports consolidated gold revenue of $285 million, up 73% year-on-year. The Fekola mine produced 112,644 ounces of gold in the second quarter, 11% (or 11,225 ounces) above budget. The company says 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). “B2Gold remains well on target to achieve transformational growth in 2018,” the company says. “For full-year 2018, with the planned first full-year of production from the Fekola Mine, consolidated gold production is forecast to be between 920,000 and 960,000 ounces (revised higher from the original guidance range of between 910,000 and 950,000 ounces). This represents an increase in annual consolidated gold production of approximately 300,000 ounces in 2018 from 2017.” Further, the company’s forecast calls for all-in sustaining costs to decrease by approximately 6% from 2017.

By Allen Sykora of Kitco News;


OceanaGold: Second-Quarter Gold Production Rises

Wednesday July 11, 2018 08:27

OceanaGold Corp. (TSX, ASX: OGC) reports that gold production rose in the second quarter. The company lists consolidated output of 142,950 ounces that is up from 125,600 in the first quarter and 124,400 in the same period a year ago. Copper output of 3,919 tonnes was comparable to the first quarter but down from some 4,300 tonnes in the year-ago period. The company last month hiked its 2018 gold-production guidance range to between 500,000 and 540,000 ounces. “Expansion of the process plant at Haile is also progressing well and we expect to complete commissioning of the Pebble Crusher before the end of the month, while at Didipio, production was stronger on the back of continued ramp-up of underground operations and mining of higher grades in the breccia zone,” says Mick Wilkes, president and chief executive officer.

By Allen Sykora of Kitco News;


Mandalay: Output Declines In 2Q But To Pick Up In Next Two Quarters

Wednesday July 11, 2018 08:27

Mandalay Resources Corp. (TSX: MND) reports that output was lower in the second quarter than in the same period a year ago but looks for this to pick up in the next two quarters. The company produced 19,154 ounces of gold and 503 tonnes of antimony, representing 22,348 ounces of gold-equivalent production in the April-June period. In the same quarter a year ago, Mandalay produced 28,219 ounces of gold, 765 tonnes of antimony and 359,457 ounces of silver for 38,491 gold-equivalent ounces. “The second quarter of 2018 was a transitional production and sales quarter for Mandalay as the company began to transition production into the Brunswick Lode at Costerfield,” says Dominic Duffy, president and chief executive officer. “Over the next two quarters, we expect to see production lift at both operations due to the initiation of mining operations at Brunswick, and mining anticipated higher grades at Björkdal. Consequently, the company remains confident that it will reach its 2018 production guidance of 101,000 to 113,000 gold equivalent ounces.”

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

New Mining Page