B2Gold 2Q Output Doubles; Fekola Produces Above Forecast
B2Gold Corp. (TSX: BTO; NYSE AMERICAN: BTG; NSX: B2G) reports that second-quarter gold productionwas roughly double the same period a year ago as the company’s new Fekola goldmine in Mali exceeded expectations. Consolidated output was a quarterly record 240,093 ounces, a jump of 98% (or 118,645ounces) from the year-ago quarter and also 7% (or 16,308 ounces) above budget,B2Gold says. The company cites “strong performances” by the Fekola mine,Masbate in the Philippines and Otjikoto in Namibia. B2Gold also reportsconsolidated gold revenue of $285 million, up 73% year-on-year. The Fekola mineproduced 112,644 ounces of gold in the second quarter, 11% (or 11,225 ounces)above budget. The company says Fekola’s annual production guidance has beenrevised higher to be between 420,000 to 430,000 ounces of gold (originalguidance was between 400,000 to 410,000 ounces). “B2Gold remains well ontarget to achieve transformational growth in 2018,” the company says. “Forfull-year 2018, with the planned first full-year of production from the FekolaMine, consolidated gold production is forecast to be between 920,000 and960,000 ounces (revised higher from the original guidance range of between910,000 and 950,000 ounces). This represents an increase in annual consolidatedgold production of approximately 300,000 ounces in 2018 from 2017.” Further,the company’s forecast calls for all-in sustaining costs to decrease byapproximately 6% from 2017.
By Allen Sykoraof Kitco News; asykora@kitco.com
OceanaGold:Second-Quarter Gold Production Rises
Wednesday July 11, 2018 08:27
OceanaGoldCorp. (TSX, ASX: OGC) reports that gold production rose in the second quarter.The company lists consolidated output of 142,950 ounces that is up from 125,600in the first quarter and 124,400 in the same period a year ago. Copper outputof 3,919 tonnes was comparable to the first quarter but down from some 4,300tonnes in the year-ago period. The company last month hiked its 2018gold-production guidance range to between 500,000 and 540,000 ounces.“Expansion of the process plant at Haile is also progressing well and we expectto complete commissioning of the Pebble Crusher before the end of the month,while at Didipio, production was stronger on the back of continued ramp-up ofunderground operations and mining of higher grades in the breccia zone,” saysMick Wilkes, president and chief executive officer.
By Allen Sykoraof Kitco News; asykora@kitco.com
Mandalay: Output Declines In 2Q But To Pick Up In Next Two Quarters
Wednesday July 11, 2018 08:27
MandalayResources Corp. (TSX: MND) reports that output was lower in the second quarterthan in the same period a year ago but looks for this to pick up in the nexttwo quarters. The company produced 19,154 ounces of gold and 503 tonnes ofantimony, representing 22,348 ounces of gold-equivalent production in theApril-June period. In the same quarter a year ago, Mandalay produced 28,219ounces of gold, 765 tonnes of antimony and 359,457 ounces of silver for 38,491gold-equivalent ounces. “The second quarter of 2018 was a transitionalproduction and sales quarter for Mandalay as the company began to transitionproduction into the Brunswick Lode at Costerfield,” says Dominic Duffy,president and chief executive officer. “Over the next two quarters, we expectto see production lift at both operations due to the initiation of miningoperations at Brunswick, and mining anticipated higher grades at Bj??rkdal.Consequently, the company remains confident that it will reach its 2018production guidance of 101,000 to 113,000 gold equivalent ounces.”
By Allen SykoraFor Kitco News
Follow @AllenSykora
asykora@kitco.com Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.