B2Gold Profitable In 1Q On Record Output
B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG;NSX: B2G) reports afirst-quarter profit as production and revenues hit record levels, thanks tooutput from the company’s newest mine. Net income totaled $57 million, or 6cents per share, a turnaround from a net loss of $5 million, or a penny, in thefirst quarter of 2017. Adjusted net income was also $57 million, or 6cents, compared to adjusted net income of $19 million, or 2 cents, a year ago.With the Fekola Mine now in production, consolidated gold output in theJanuary-March period was a quarterly record of 239,684 ounces. This was anincrease of 81%, or 106,948 ounces, over the same period last year. In itsfirst full quarter of operations since achieving commercial production on Nov.30, Fekola produced 114,142 ounces of gold, 11% (11,228 ounces) above budget,B2Gold says. Against this backdrop, the company recorded record quarterly consolidated gold revenue of$344 million, an increase of $198 million over the same period last year.Consolidated all-in sustaining costs were $750 per ounce, below budget by $147per ounce. This was also $139 per ounce lower than in the prior-year quarter.“B2Gold is well on target to achieve transformational growth in 2018 and meetits annual guidance of between 910,000 and 950,000 ounces of gold production in2018 at cash operating costs of between $505 and $550 per ounce and AISC ofbetween $780 and $830 per ounce,” the company says.
By Allen Sykoraof Kitco News; asykora@kitco.com
Raymond Threlkeld NamedPresident, CEO Of New Gold
Thursday May 10, 2018 09:38
New Gold Inc. (TSX, NYSEAmerican: NGD) announces the appointment of Raymond Threlkeld as newpresident and chief executive officer. He succeeds Hannes Portmann,who has left the company to pursue other opportunities but will continue as amember of the board of directors. Threlkeld has been a board member since 2009and was the company's interim chief operating officer from December2016 to September 2017. Previously, he waspresident and CEO of Rainy River Resources Ltd. through2013, when it was acquired by NewGold. From 2006 to 2009, he was president and CEO of WesternGoldfields Inc. when it merged with NewGold.
By Allen Sykoraof Kitco News; asykora@kitco.com
PanAmerican Silver: Blockades At HuaronMine End
Thursday May 10, 2018 09:38
PanAmerican Silver Corp. (NASDAQ: PAAS; TSX: PAAS) reports that community roadblockades at the Huaron mine have ended, with mine operations expected toreturn to normal within the next two days. Operations were suspended on April 24 due to blockades instituted by members of the nearbyHuayllay community, Pan American says. “With oversight from the Social AffairsGeneral Office of the Peruvian Ministry of Energy and Mines, an agreement wasreached with representatives of the Huayllay community to end the roadblocks,”the company says.
By Allen Sykoraof Kitco News; asykora@kitco.com
Franco NevadaPosts Record Financial Results In 1Q
Thursday May 10, 2018 09:38
Gold royaltyand streaming company Franco Nevada (TSX, NYSE: FNV) reports a number of recordresults for the first quarter, including net income of $64.6 million (35 centsa share) and $173.1 in revenue. Adjustednet income was a record $63.9 million, or 34 cents a share. The company sold115,671 gold-equivalent ounces. The quarterly dividend was increased to 24cents per share from 23 cents. “Franco-Nevada’s diversified portfolio continuesto deliver with record quarterly revenue and net income being realized in thefirst quarter,” comments David Harquail, chief executive officer. “Over thenext year, we expect further growth with higher production from Tasiast,Subika, Candelaria and our oil [and] gas assets, as well as the start ofproduction from Cobre Panama.” The CEO also reports that Paul Brink has beenpromoted to president and chief operating officer. “Paul is a talented andseasoned executive and will serve Franco-Nevada’s shareholders very well,”Harquail says.
By Allen SykoraFor Kitco News
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