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B2Gold: Record 2018 Gold Output Near Top Of Guidance Range

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B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) reports record annual gold production of 953,504 ounces in 2018, which the company says was near the top end of the revised guidance range of between 920,000 and 960,000 ounces. This was the 10th straight year B2Gold achieved record annual output, with production this time jumping 51% with the addition of the new Fekola Mine in Mali. Annual revenue jumped 92% to a record $1.2 billion. The Fekola Mine, in its first full year of commercial production, continued to “significantly outperform expectations,” B2Gold says, listing output of 439,068 ounces that exceeded the upper limit of the increased guidance range of between 420,000 and 430,000 ounces. The Masbate Mine in the Philippines also topped guidance and achieved record annual gold production of 216,498 ounces. In the fourth quarter, B2Gold's consolidated production was 231,687 ounces, slightly exceeding reforecast production. The company listed 2019 guidance of between 935,000 and 975,000 ounces of gold, with all-in sustaining costs estimated at between $835 and $875 per ounce.

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

 

Centerra Beats 2018 Gold, Copper Production Guidance

Wednesday January 16, 2019 08:52

Centerra Gold Inc. (TSX: CG) says it exceeded 2018 gold-production guidance of 665,000 to 705,000 ounces, achieving consolidated output of 729,556 ounces. This includes 534,563 ounces of gold from the Kumtor Mine in the Kyrgyz Republic and 194,993 ounces from the Mount Milligan Mine in British Columbia. Mount Milligan also provided 47.1 million pounds of copper, achieving the upper end of its guidance range of 40 million to 47 million pounds. For the fourth quarter, Centerra’s gold output totaled 288,367 ounces, while Mount Milligan produced 11.8 million pounds of copper. “For 2019, we are estimating consolidated gold production to be in the range of 690,000 to 740,000 ounces and 65 million to 75 million pounds of payable copper production from Mount Milligan,” says Scott Perry, president and chief executive officer. “The guidance assumes reduced mill throughput for the first quarter of 2019 at Mount Milligan to properly manage its water balance until the spring melt runoff.”

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

 

Detour Gold: 2018 Output Above Midpoint of Guidance Range

Wednesday January 16, 2019 08:52

Detour Gold Corp. (TSX: DGC), which operates the Detour Lake Mine in Ontario, says gold output of 621,128 ounces last year was above the mid-point of the annual guidance. Further, production of 158,200 ounces in the fourth quarter was a quarterly record. Frazer Bourchier, chief operating officer, says this was the third straight quarter with record tones mined and gold produced. Bill Williams, interim chief executive officer, adds: “These recent results provide confirmation that the operational changes made throughout the year have had a positive impact.”

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

 

SSR Mining: Output At All Operations Tops Revised Guidance

Wednesday January 16, 2019 08:52

SSR Mining Inc. (NASDAQ, TSX: SSRM) reports production of 345,000 gold-equivalent ounces in 2018 and over 88,000 gold-equivalent ounces in the fourth quarter, topping revised annual guidance at all three of its operations. Annual output at the Marigold and Seabee mines were at or near records, the company says. The company describes a strong finish to the year at Marigold, with annual production of 205,160 ounces of gold in 2018, including October-December output of 54,306 ounces that pushed the mine above the upper end of its guidance range. Seabee produced a record 95,602 ounces. Meanwhile, the ramp-up continues at Puna, with this operation also topping guidance with silver production of 3.7 million ounces. Commercial production at the Chinchillas mine occurred in December and the company produced 1.2 million ounces of silver in the fourth quarter, a 79% increase over the third quarter. “In the year ahead, we are forecasting production growth to nearly 400,000 gold-equivalent ounces, with Seabee and Marigold continuing to deliver to plan and Puna ramping-up to steady-state operations,” says Paul Benson, president and chief executive officer.

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.

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