B2Gold Corp (TSX: BTO) last night released their production results for the first quarter of 2021. The company managed to produce a total of 220,644 ounces of gold during the quarter, while recognizing consolidated revenue of $362.0 million.
The quarters gold production consisted of 205,642 ounces of production and the firms three operating mines, as well as 15,001 ounces of production from Calibre Mining. Year over year, production was 44,218 ounces of gold less than the same quarter in 2020, however gold production was 9% above the firms forecasts, with production expected to be down during the first half of the year due to waste stripping at two separate mines.
In terms of revenue, the company managed to sell 202,330 ounces of gold at an average price of $1,791 per ounce, as compared to the year ago period which saw revenues of $380 million on sales of 239,500 ounces at a price of $1,588 per ounce.
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The company as a whole has guided to 2021 gold production between 970,000 to 1,030,000 ounces of gold, with an all in sustaining cost of $870 to $910 per ounce. Production is expected to be weighted heavily to the second half of the year following the completion of planned waste stripping. Gold production for the first have of the year is expected to be between 365,000 to 385,000 ounces.
Full financial results are slated to be released May 4, 2021.
B2Gold Corp last traded at $6.25 on the TSX.
Information for this briefing was found via Sedar and B2Gold Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
