B2GOLD, the Toronto-listed gold producer, said it was “well on track” to produce a “transformational year” in 2018 following commissioning in November of its Fekola gold mine in West Africa’s Mali.
First quarter production came in at a record 239,684 ounces, representing an 81% increase over the 106,948 ounces produced over the first quarter of the previous financial year. The Fekola mine’s production was the reason for the increase which was 114,142 ounces for the quarter. There was also strong performances from the Masbate mine in the Philippines and the Namibia mine, Otjikoto.
Gold revenue for the period was $344.3m, an increase of 135% year-on-year. “B2Gold is well on target to achieve transformational growth in 2018 and meet its annual guidance of between 910,000 and 950,000 oz of gold production in 2018 at all-in sustaining costs of between $780 and $830/oz, the company said in an update.
