B2Gold Reinforced 2023 Gold Output Guidance

SEATTLE (Scrap Monster): B2Gold Corp. announced operational and financial results for the third quarter of 2023.

According to the company, its total gold production in Q3 this year was 242,838 ounces. The attributable production from Calibre Mining Corp. totalled 17,786 ounces. The production from the Masbate mine in the Philippines and Otjikoto mine in Namibia exceeded expectations. However, Fekola mine in Mali recorded lower than expected production during the quarter.

ALSO READ: B2Gold Hunting for More Assets After Sabina Gold Deal

All of its operations are on track to meet or exceed annual production guidance, the press release said. The company foresees full year 2023 gold production to range between 1,000,000 and 1,080,000 ounces. The full year 2023 AISC forecast is expected to be at the lower end of the guidance range.

B2Gold reported net loss attributable to shareholders of $43 million in Q3 this year. The cash flow provided by operating activities prior to working capital adjustments was $191 million. As at the end of the third quarter, the company had cash and cash equivalents of $310 million and working capital of $383 million.

The Goose Project construction is on budget and on track to pour its first gold in the initial quarter of 2025.