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Mining News August 04, 2022 07:05:26 PM

B2Gold Corp. Total Gold Output Exceeded Budget in Q2

Paul Ploumis
ScrapMonster Author
The total gold production of 223,623 ounces in Q2 this year was slightly above budget by 1%.

B2Gold Corp. Total Gold Output Exceeded Budget in Q2

SEATTLE (Scrap Monster): B2Gold Corporation announced its operational and financial results for the second quarter and first half of 2022.

The total gold production of 223,623 ounces in Q2 this year was slightly above budget by 1%, whereas the consolidated gold production of 208,858 ounces from its three operating mines was in line with budget. The quarter witnessed consolidated gold revenue of $382 million on sales of 205,300 ounces at an average realized gold price of $1,861 per ounce. Meantime, the Fekola, Mali mill throughput hit a quarterly record of 2.42 million tonnes, said the company press release.

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B2Gold Corp. reported net income attributable to the shareholders of $38 million or $0.04 per share and adjusted net income of $45 million or $0.04 per share. The company remained in a strong net positive cash position, thus paying a second quarter dividend of $0.04 per common share.

Based on the strong operational and financial results during the first half of the year, the company announced that it is on track to meet its annual gold production guidance for 2022 of between 990,000 and 1,050,000 ounces. Furthermore, it also kept its total consolidated costs guidance ranges for full-year 2022 unchanged. However, the total consolidated cash operating costs are expected to be at the upper end of the original guidance range of between $620 and $660 per ounce.

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