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B2Gold more than doubles net income in second quarter as gold production up 17%

Kitco Media
By Vladimir Basov
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(Kitco News) - B2Gold (TSX: BTO) (NYSE: BTG) yesterday announced total gold production of 262,701 ounces in Q2 2023, up 17% from Q2 2022 (223,623 ounces) and in-line with expectations for the quarter.

The company said its Fekola gold mine in Mali produced 152,427 ounces in the quarter (Q2 2022: 123,066 ounces), benefitting from a favorable mine phasing sequence in the second quarter, with Phase 6 of the Fekola pit providing high-grade ore to the process plant.

Importantly, the company noted that all of its operations are on track to meet or exceed annual production guidance ranges.

B2Gold also reported total consolidated cash operating costs of $667 per gold ounce sold in Q2 2023, down 15% compared to Q2 2022 ($786/oz) and below the annual guidance range.

Total consolidated all-in sustaining costs (AISC) amounted to $1,214 per gold ounce sold in Q2 2023 (Q2 2022: $1,111 per ounces), below the midpoint of the annual guidance range, it added.

The company’s Q2 2023 net income attributable to the shareholders of the company was $80 million or $0.06 per share (Q2 2022: net income attributable to the shareholders of the company of $38 million or $0.04 per share).

B2Gold said it 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.

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 Canada, Mali, Colombia, Finland and Uzbekistan.

SSR Mining increases attributable net income 28% y-o-y to $74.9M in second quarter
Kitco Media

Vladimir Basov

Vladimir (PhD, MEng in Mining) is a professional mining engineer, scientist and analyst that has more than 20 years of practical in-field and research experience. He is particularly interested in collecting, processing baseline data and writing insightful data-driven mining industry analytics, articles, statistical and research reports.

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