Business
B2Gold Reports Positive Second Quarter & First-Half 2018 Results; Strong Growth in Gold Production/Revenues and Operating Cash Flows; Significant Beat Against Budget for Cash Operating Costs and AISC
Vancouver, British Columbia--(Newsfile Corp. - August 7, 2018) - B2Gold Corp. (TSX: BTO) (NYSE...
About this update from B2gold Corp.
[{"type":"text","content":"B2Gold Reports Positive Second Quarter & First-Half 2018 Results; Strong Growth in Gold Production/Revenues and Operating Cash Flows; Significant Beat Against Budget for Cash Operating Costs and AISCVancouver, British Columbia--(Newsfile Corp. - August 7, 2018) - B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (\"B2Gold\" or the \"Company\") is pleased to announce its operational and financial results for the second quarter and first-half 2018. The Company previously released its gold production and revenues for the second quarter of 2018 (see news release dated 07/11/18). All dollar figures are in United States dollars unless otherwise indicated.2018 Second Quarter HighlightsRecord quarterly consolidated gold production of 240,093 ounces, a significant increase of 98% (118,645 ounces) over the same period last year and 7% (16,308 ounces) above budget, due to the continued strong performances of the Fekola Mine in Mali, the Masbate Mine in the Philippines and the Otjikoto Mine in NamibiaConsolidated gold revenue of $285 million, a significant increase of 73% ($121 million) over the same period last year Consolidated cash operating costs (see \"Non-IFRS Measures\") of $474 per ounce, well below budget by $86 per ounce (15%) and $157 per ounce (25%) lower than the prior-year quarter Consolidated all-in sustaining costs (\"AISC\") (see \"Non-IFRS Measures\") of $721 per ounce, significantly below budget by $146 per ounce (17%) and $253 per ounce (26%) lower than the prior-year quarter Consolidated cash flows from operating activities of $86 million ($0.09 per share), significantly increasing by $38 million (79%) from $48 million ($0.05 per share) in the prior-year quarter Net income of $21 million ($0.02 per share) and adjusted net income (see \"Non-IFRS Measures\") of $46 million ($0.05 per share) Fekola Mine continued to operate above plan, producing 112,644 ounces of gold in the quarter, 11% (11,225 ounces) above budget, at cash operating costs of $318 per ounce and AISC of $445 per ounceBased on Fekola's strong year-to-date performance, Fekola's annual production guidance was revised higher to be between 420,000 to 430,000 ounces of gold (original guidance was between 400,000 to 410,000 ounces)Masbate Mine continued its remarkable safety performance, extending the number of days without a Lost-Time-Injury to 989 days at...