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B2Gold Reports Strong Third Quarter 2017 Results; New Fekola Mine Achieves First Gold Pour on October 7, 2017 & Gold Production of 40,286 Ounces to October 31 during Ramp-up Phase; Commercial Production at Fekola Anticipated by End of November
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2017) - B2Gold Corp. (TSX: BTO) (NY...
About this update from B2gold Corp.
[{"type":"text","content":"B2Gold Reports Strong Third Quarter 2017 Results; New Fekola Mine Achieves First Gold Pour on October 7, 2017 & Gold Production of 40,286 Ounces to October 31 during Ramp-up Phase; Commercial Production at Fekola Anticipated by End of NovemberVancouver, British Columbia--(Newsfile Corp. - November 8, 2017) - B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (\"B2Gold\" or the \"Company\") is pleased to announce its operational and financial results for the three and nine months ended September 30, 2017. The Company previously released its gold production and gold revenue results for the third quarter of 2017 (see news release dated 10/13/17). All dollar figures are in United States dollars unless otherwise indicated. In addition, the Company is pleased to announce that the ramp up to full scale production at the Fekola Mine is ahead of schedule with gold production well above budget in September and October. The Company now expects the Fekola Mine to achieve commercial production by the end of November.2017 Third Quarter Highlights Consolidated gold production of 135,628 ounces, including 6,340 ounces of pre-commercial gold in-circuit production from Fekola, exceeding (original) budget by 2% (or 2,254 ounces) and reforecast production by 15% (or 17,372 ounces) Consolidated gold revenue of $154.1 million on sales of 121,597 ounces at an average price of $1,267 per ounce Otjikoto Mine achieved record quarterly production of 55,151 ounces Fekola Mine construction completed, and processing of ore commenced more than three months ahead of schedule, in September 2017 First gold pour at the Fekola Mine achieved on October 7, 2017 In October 2017, subsequent to the third quarter, the Fekola Mine produced 33,946 ounces of gold in the month (significantly surpassing budget of 15,100 ounces) and is now expected to achieve commercial production (four months ahead of original schedule) by the end of November Consolidated cash operating costs (see \"Non-IFRS Measures\") of $563 per ounce, $28 per ounce (or 5%) below budget Consolidated all-in sustaining costs (\"AISC\") (see \"Non-IFRS Measures\") of $921 per ounce, $66 per ounce (or 8%) above budget, due to the timing of capital expenditures, but year-to-date AISC of $927 per ounce remained well below budget Cash flow from operating activities (after non-cash working capital changes) o...