B2Gold delivers above budget Q1 2021 production despite expected decline
(Kitco News) - B2Gold (TSX: BTO) announced Thursday that the company’s total Q1 2021 gold production of 220,644 ounces (including 15,001 ounces of attributable production from Calibre Mining) was 17% lower than in Q1 2020 (264,862 ounces) and 9% (18,542 ounces) above budget.
B2Gold’s consolidated gold production of 205,643 ounces (excluding its attributable share in Calibre) from the company's three operating mines was 18% lower than in Q1 2020 (250,632 ounces) and 9% (17,291 ounces) above budget.
The company said that as expected, compared to the first quarter of 2020, its total consolidated gold production was lower by 17% (44,218 ounces), due to planned significant waste stripping campaigns at both the Fekola and Otjikoto mines, scheduled for the first half of 2021. Gold production is expected to significantly increase in the second half of 2021.
B2Gold noted it remains well positioned for continued strong operational and financial performance with total gold production guidance of between 970,000 - 1,030,000 ounces (including 50,000 – 60,000 attributable ounces projected from Calibre) with total consolidated all-in sustaining costs of between $870 - $910 per ounce.
Based on current assumptions, including a gold price of $1,800 per ounce, the company expects to generate cashflows from operating activities of approximately $630 million for the full-year 2021.
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines and numerous exploration and development projects in various countries including Mali and Colombia.