Guest Contributor | Feb 15, 2019 | 0
B2Gold’s second quarter gold production doubles to 240,000 ounces
Mining company, B2Gold owners of the Otjikoto Mine reported continued strong second quarter and first- half 2018 gold production this week in information disseminated through SENS
According to the announcement with the new large, low-cost Fekola Mine in Mali now in full production consolidated gold production in the second quarter of 2018 was a quarterly record of 240,093 ounces, a significant increase of 98% above budget.
“In its second full-quarter of commercial operations, the new Fekola Mine continued to operate above plan, producing 112,644 ounces of gold in the second quarter of 2018, 11% (or 11,225 ounces) above budget. Based on Fekola´s strong year-to-date performance, the Company has revised Fekola´s annual 2018 production guidance range higher to be between 420,000 to 430,000 ounces of gold (original
guidance range was between 400,000 to 410,000 ounces),” the satement said.
The Otjikoto Mine in Namibia and the Masbate Mine also had another solid quarter with both mines exceeding their targeted production levels for the quarter, the company added.
B2Gold remains well on target to achieve transformational growth in 2018. For full-year 2018, with the planned first full-year of production from the Fekola Mine, consolidated gold production is forecast to be between 920,000 and 960,000 ounces.
This represents an increase in annual consolidated gold production of approximately 300,000 ounces in 2018 from 2017, they added
The company´s forecast consolidated cash operating costs are expected to remain low in 2018 and be between US$505 and US$550 per ounce and AISC are expected to decrease by approximately 6% from 2017 and be between US$780 and US$830 per ounce.