Business
B2Gold Reports 2016 Fourth Quarter and Full-Year Results
Vancouver, British Columbia--(Newsfile Corp. - March 16, 2017) - B2Gold Corp.  (TSX: BTO)...
About this update from B2gold Corp.
[{"type":"text","content":"\nB2Gold Reports 2016 Fourth Quarter and Full-Year ResultsAchieves 2016 Record Gold Production, Record Low Cash Operating Costs & Record Operating Cash Flow; Outlook Provides for Very Strong Gold Production Growth Profile by 2018Vancouver, British Columbia--(Newsfile Corp. - March 16, 2017) - B2Gold Corp.  (TSX: BTO) (NYSE MKT: BTG) (NSX: B2G) (\"B2Gold\" or the \"Company\") is pleased to announce its operational and financial results for the fourth quarter and year-end December 31, 2016. The Company previously released its gold production and gold revenue for the fourth quarter and full-year 2016, as well as its production and cash cost guidance for 2017 (see news release dated 02/05/17). All dollar figures are in United States dollars unless otherwise indicated.2016 Fourth Quarter HighlightsConsolidated gold production of 140,651 ounces, 7% (or 9,182 ounces) greater than the same period in 2015 Consolidated gold revenue of $181.2 million on record sales of 151,524 ounces at an average price of $1,196 per ounce, an increase in revenue of 30% (or $42.2 million) over the same period in 2015Consolidated cash operating costs (see \"Non-IFRS Measures\") of $546 per ounce (Q4 2015 - $527 per ounce) and consolidated AISC (see \"Non-IFRS Measures\") of $877 per ounce (Q4 2015 - $807)Cash flow from operating activities of $82.3 million ($0.09 per share), an increase of $33.8 million (or 70%) compared with the fourth quarter of 2015Strong cash position of $144.7 million at year-end Fekola Project mine construction is 3 months ahead of schedule for an anticipated October 1, 2017 production start and remains on budget Subsequent to December 31, 2016, on March 14, 2017, the Company received a binding letter of commitment from the Canadian Imperial Bank of Commerce to participate in the Company's revolving credit facility, thereby increasing the aggregate amount of the facility from $350 million to $425 million 2016 Full-Year HighlightsRecord annual consolidated gold production of 550,423 ounces of gold, achieving revised production guidance (of 535,000 to 575,000 ounces) and surpassing initial guidance (of 510,000 to 550,000 ounces) Masbate Mine achieved record annual gold production of 206,224 ounces, 17% (or 30,421 ounces) higher than 2015Otjikoto Mine achieved record annual gold production of 166,285 ounces, 14% (or 20,562 ounces) h...