TORONTO (miningweekly.com) – The TSX-listed stock of miner B2Gold on Wednesday rose to a new 52-week high of C$4 apiece after the company reported record output for the three months to June.
Vancouver-based B2Gold said Wednesday it achieved a new consolidated gold production record of 135 242 oz, 4%, or 5 697 oz, above budget and 11%, or 13 676 oz, more than the same period in 2015.
Not surprisingly, B2Gold reported record gold revenue of $164.8-million on record sales of 130 829 oz at an average price of $1 260/oz, an increase in revenue of 21% over the same period in 2015.
The Masbate mine, in the Philippines, produced 27% more gold, or 12 159 oz more than planned at 57 188 oz.
The company advised that it was on track to meet its 2016 production guidance of 510 000 oz to 550 000 oz at cash operating costs of between $560/oz and $595/oz and all-in sustaining costs of between $895/oz and $925/oz.
Meanwhile, construction of the 350 000 oz/y Fekola mine, in Mali, was progressing well, on schedule and on budget, with first production slated for late 2017.