Mining News
B2Gold achieves gold production and cost guidance in 2022, reports net income of $287 million
(Kitco News) - B2Gold (TSX: BTO, NYSE: BTG) reported yesterday that its total gold production in 2022 was 1,027,874 ounces, near the mid-point of the annual guidance range of between 990,000 and 1,050,000 ounces, the seventh consecutive year of meeting or exceeding annual production guidance.
The company’s full year 2022 total consolidated cash operating costs were $660 per gold ounce produced, at the top end of the annual guidance range of between $620 and $660 per gold ounce.
Full year 2022 total consolidated all-in sustaining costs were $1,033 per gold ounce sold, near the mid-point of the annual guidance range of between $1,010 and $1,050 per gold ounce.
For the full year 2022, the company’s consolidated gold revenue was $1,733 million (2021 – revenue of $1,762 million) on sales of 969,155 ounces at an average realized gold price of $1,788 per ounce. B2Gold also reported net income for the period of $287 million (2021 – net income of $461 million).
On February 22, 2023, B2Gold's Board of Directors declared a cash dividend for the first quarter of 2023 of $0.04 per common share (or an expected $0.16 per share on an annualized basis), payable on March 17, 2023 to shareholders of record as of March 8, 2023.
B2Gold said it continues to maintain a strong financial position and liquidity, adding that at December 31, 2022, the company had cash and cash equivalents of $652 million compared to cash and cash equivalents of $673 million at December 31, 2021.
B2Gold expects to continue its strong operational performance in 2023 with total gold production forecast to be between 1,000,000 and 1,080,000 ounces (including 60,000 to 70,000 attributable ounces from Calibre).
The company's total consolidated cash operating costs for the year (including estimated attributable results for Calibre) are forecast to be between $670 and $730 per ounce and total consolidated all-in sustaining (including estimated attributable results for Calibre) are forecast to be between $1,195 and $1,255 per ounce.
B2Gold is an 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, Finland and Uzbekistan.
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