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B2Gold Reports Rise In 4Q Adjusted Net Income

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B2Gold Corp. (TSX: BTO, NYSE American: BTG; NSX: B2G), benefiting from the first full year of commercial production from its Fekola Mine in Mali, reported that fourth-quarter adjusted net income jumped to $14 million, or a penny per share, from $6 million, also a penny, in the same period a year ago. The company recorded a loss of $50 million, or 6 cents, compared to net income of $34 million, or 3 cents, in the fourth quarter of 2017, mainly as a result of impairment charges and mineral property write-offs. During 2018, B2Gold recorded a net impairment charge of $55 million, mainly for the La Libertad Mine in the third and fourth quarters and the sale of the Mocoa porphyry copper-molybdenum deposit in the second quarter. Fourth-quarter output was 231,687 gold ounces, with 105,280 coming from Fekola. For full-year 2018, adjusted net income was $162 million, or 16 cents, compared to $52 million, or a nickel, in 2017.  Net income was $45 million, or 3 cents, compared to $62 million, or 6 cents, for 2017. B2Gold lists consolidated gold production of 953,504 ounces in 2018, near the top end of its revised guidance range. The annual increase was 322,939 ounces, which was 51% more than 2017, making this the 10th consecutive year that B2Gold achieved record production. Consolidated all-in sustaining costs of $758 per ounce were below guidance. The new Fekola mine outperformed expectations, with production of 439,068 ounces, exceeding the upper limit of its already-increased guidance range, the company says. Meanwhile, Fekola’s AISC of $533 per ounce was below guidance. Additionally, the Masbate Mine in the Philippines posted record annual gold production of 216,498 ounces. “Looking forward, B2Gold remains well positioned for continued strong operational and financial performance with production guidance of between 935,000 and 975,000 ounces of gold for 2019 with forecast …AISC of between $835 and $875 per ounce,” the company says.

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

 

Equinox Anticipates Big Jump In 2019 Gold Output

Wednesday March 13, 2019 08:28

Equinox Gold Corp. (TSXV: EQX) became a producer in 2018 following the October purchase of the Mesquite gold mine and looks for a huge jump in output during 2019, the company says. After the acquisition, Mesquite produced 25,601 ounces of gold. Meanwhile, the company says its Aurizona mine is nearly completed with more than 750,000 tonnes of ore stockpiled. “Equinox Gold’s primary objective for 2018 was to transform from a developer to a gold producer,” says Christian Milau, chief executive officer. “The Mesquite acquisition accelerated that transition, bringing immediate production and cash flow and significantly increasing the company’s production profile for 2019 and beyond. With first gold pour at Aurizona expected in the next few weeks, Equinox Gold expects to produce more than 230,000 ounces of gold in 2019 and will continue to grow its production profile with Castle Mountain development, exploration success and strategic acquisitions.”

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

 

Alio Gold Reports 4Q Net Loss

Wednesday March 13, 2019 08:28

Alio Gold Inc. (TSX, NYSE American: ALO) lists a net loss of $16.8 million or 20 cents a share, for the fourth quarter, compared with a net loss of $2.9 million, or 6 cents in the same period a year ago. The number of gold ounces sold rose to 21,985 from 16,067. For full-year 2018, Alio lists a net loss of $14 million, or 21 cents a share, compared to a 2017 profit of $11.9 million, or 30 cents. The number of gold ounces sold dipped slightly to 82,598 from 83,211.

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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