B2Gold Corp. (TSX: BTO) announced Thursday its quarterly production results for Q2 2021, posting gold production of 211,612 ounces. This is a decrease from Q1 2021’s production of 220,644 gold ounces.
This quarter’s production includes the consolidated yield of 197,380 gold ounces from the company’s properties, namely the Fekola mine in Mali, the Masbate mine in the Philippines, and the Otjikoto mine in Namibia. The remaining 14,232 gold ounces produced for the quarter came from the company’s 33% equity share in Calibre Mining (TSX: CXB).
The Q2 2021 production results bring the company’s total gold production for the first half of the year to 432,256 ounces, exceeding the previously announced guidance of 390,000-415,000 ounces. B2Gold’s wholly-owned mines also exceeded its production guidance for the first half of 2021, producing 403,023 gold ounces beyond the forecast of 365,000-385,000.
The company also sold 200,071 gold ounces during the quarter at an average realized price of $1,814 per ounce, resulting in gross gold revenue of US$363.0 million. This is a slight increase from Q1 2021’s gold sales of US362.4 million from selling 202,330 ounces at US$1,791 per ounce, but a decline from Q2 2020’s gold revenue of US$442.0 million from selling 257,100 ounces at US$1,719 per ounce.
The Vancouver-based gold producer believes it is on track to meet or exceed its previously announced full-year 2021 production guidance of 970,000-1,030,000 gold ounces. This considers meeting the forecast for consolidated cash operating costs of US$500-US$540 per ounce and consolidated AISC of US$870-US$910 per ounce.
Based on its current assumptions, the company expects to generate around US$630.0 million cash flow from operating activities, US$500.0 million of which would be generated in the second half of 2021.
The Canadian mining firm is currently pursuing an international arbitration to settle its dispute with the Malian government regarding the company’s Menankoto mine exploration permit.
B2Gold Corp. last traded at $5.35 on the TSX.
Information for this briefing was found via Sedar and B2Gold. 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.