B2Gold Corp. Q1 Consolidated Gold Output Exceeded Budget

SEATTLE (Scrap Monster): Vancouver, B.C.-based B2Gold Corp. announced gold production and gold revenue for Q1 2021.

The company reported total gold production of 220,644 ounces during the quarter. The consolidated gold production in the first quarter of 2021 was 220,644 ounces, which exceeded the budget by almost 9%. All of the company’s three operating mines reported solid performance, all exceeding their budgeted production for the quarter.

The Fekola Mine in Mali produced 125,088 ounces of gold, 7% above budget, mainly aided by recent mill expansion project. The Masbate Mine in the Philippines also had a strong start to the year with first quarter gold production of 57,513 ounces, exceeding budgeted production by 14%. The Otjikoto Mine in Namibia produced 23,042 ounces of gold, 11% above budget.

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The consolidated gold revenue for the quarter stood at $362 million on sales of 202,330 ounces at an average price of $1,791 per ounce.

For the full-year 2021, B2 Gold expects continued strong operational and financial performance, well on track to meet annual gold production guidance of 970,000- 1,030,000 ounces. It forecasts total consolidated cash operating costs of between $500 and $540 per ounce and total consolidated all-in sustaining costs of between $870 and $910 per ounce. It expects to generate cashflows from operating activities of approximately $630 million.