Business
B2Gold Reports Strong First Quarter 2018 Results; Significant Beat Against Budget for Cash Operating Costs and AISC and Dramatic Increase in Cash Flows from Operating Activities to $147 Million
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2018) - B2Gold Corp. (TSX: BTO) (NYSE AM...
About this update from B2gold Corp.
[{"type":"text","content":"B2Gold Reports Strong First Quarter 2018 Results; Significant Beat Against Budget for Cash Operating Costs and AISC and Dramatic Increase in Cash Flows from Operating Activities to $147 MillionRecord Quarterly Gold Production of 240,000 ounces and Record Quarterly Revenues of $344 MillionVancouver, British Columbia--(Newsfile Corp. - May 9, 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 first quarter of 2018. The Company previously released its gold production and gold revenue for the first quarter of 2018 (see news release dated 04/11/18). All dollar figures are in United States dollars unless otherwise indicated.2018 First Quarter HighlightsRecord quarterly consolidated (commercial) gold production of 239,684 ounces, a significant increase of 81% (106,948 ounces) over the same period last year and 7% (16,252 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 NamibiaRecord quarterly consolidated gold revenue of $344 million, a significant increase of 135% ($198 million) over the same period last year Fekola Mine continued to operate above plan since achieving commercial production on November 30, 2017, producing 114,142 ounces of gold in the quarter, 11% (11,228 ounces) above budgetConsolidated cash operating costs (see \"Non-IFRS Measures\") of $481 per ounce, well below budget by $67 per ounce (12%) and $83 per ounce (15%) lower than the prior-year quarter Consolidated all-in sustaining costs (\"AISC\") (see \"Non-IFRS Measures\") of $750 per ounce, significantly below budget by $147 per ounce (16%) and $139 per ounce (16%) lower than the prior-year quarter Consolidated cash flows from operating activities of $147 million ($0.15 per share), significantly increasing by $107 million (272%) from $40 million ($0.04 per share) in the prior-year quarter Strong cash position of $168 million at quarter-end B2Gold is well on target to achieve transformational growth in 2018 and meet its annual guidance of between 910,000 and 950,000 ounces of gold production in 2018 at cash operating costs of between $505 and $550 per ounce and AISC of between $780 and $830 per ounceB2Gold is projecting a dramatic increase in its annual...