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Commodities Buzz: B2B Gold Reports Record Annual Consolidated Gold Production Of 969,495 Ounces In 2019
16-Jan-20   13:17 Hrs IST

B2Gold Corp announced its consolidated gold production and gold revenues for the fourth quarter and full-year 2019, in addition to its production and budget guidance for 2020. All dollar figures are in United States dollars unless otherwise indicated. The company reported fourth quarter consolidated gold production of 234,416 ounces (including 6,010 ounces from discontinued operations) or 245,140 ounces (including 10,724 ounces relating to B2Gold's attributable share of ounces from Calibre). The company reported fourth quarter consolidated gold revenues from continuing operations of $314 million on sales of 211,800 ounces; consolidated gold revenues of $324 million on sales of 218,437 ounces, including gold sales from the discontinued operations.

B2B Gold reported record annual consolidated gold production of 969,495 ounces (including 118,379 ounces from discontinued operations) or 980,219 ounces (including 10,724 ounces relating to B2Gold's attributable share of ounces from Calibre), which exceeded the upper end of the Company's guidance range (of between 935,000 and 975,000 ounces), and marks the eleventh consecutive year that B2Gold achieved record annual consolidated gold production. Annual gold production from the Fekola Mine, Masbate Mine and Otjikoto Mine all exceeded the upper end of their 2019 production guidance ranges. In December 2019, the Fekola Mine exceeded one million ounces of gold production (since the commencement of ore processing began in September 2017), achieving this milestone a full year ahead of the original production schedule.

For 2020, B2Gold remains well positioned for continued strong operational and financial performance with production guidance of between 1,000,000 and 1,055,000 ounces of gold (including attributable ounces of between 45,000 and 50,000 from Calibre) with forecast cash operating costs of between $415 and $455 per ounce and AISC of between $780 and $820 per ounce.

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