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B2Gold reports gold production decline in Q2, says on track to meet or exceed annual guidance

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(Kitco News) - B2Gold (TSX: BTO) announced yesterday that its total gold production in Q2 2021 of 211,612 ounces was lower by 12% (29,981 ounces) compared to Q2 2020, which was expected due to planned significant waste stripping campaigns at both the Fekola and Otjikoto mines which were largely completed in the first half of 2021.

However, the company said that the total gold production (including attributable ounces from Calibre) was well above budget by 5% (10,269 ounces), and consolidated gold production of 197,380 ounces from the company's three operating mines was well above budget by 5% (9,787 ounces).

According to a press-release, the Fekola mine in Mali continued its strong operational performance through the second quarter of 2021, producing 113,611 ounces of gold, 3% (3,611 ounces) above budget.

The Masbate mine in the Philippines also continued its strong operational performance with second quarter 2021 gold production of 56,878 ounces, well above budget by 8% (4,390 ounces), as processed grade (8% above budget) and recoveries (10% above budget) both exceeded budget which more than offset lower than budgeted throughput (8% below budget).

The Otjikoto mine in Namibia performed well during the second quarter of 2021, producing 26,891 ounces of gold, well above budget by 7% (1,786 ounces), mainly due to higher than budgeted processed grade (5% above budget) as the grade of ore sourced from the medium grade stockpile was slightly higher than anticipated during the second quarter.

The company added that gold production is expected to significantly increase in the second half of 2021, when mining at Fekola reaches the higher-grade zones of the Fekola Pit and mining at Otjikoto reaches the higher-grade zone at the base of the Wolfshag Pit.

For full-year 2021, the company said it remains on track to meet or exceed the upper end of its total gold production forecast range of between 970,000 - 1,030,000 ounces with total consolidated cash operating costs forecast to be between $500 - $540 per ounce and total consolidated AISC forecast to be between $870 - $910 per ounce.

B2Gold is 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, Colombia, Burkina Faso, Finland and Uzbekistan.

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