B2Gold hikes FY guidance, ups stake in Finland exploration JV
Canadian bullion miner B2Gold has hiked its 2021 guidance to between 1.012-million and 1.055-million ounces, following a strong third quarter in which output came in above target.
The company produced 310 261 oz, including 14 538 oz of attributable production from its interest in Calibre Mining.
Consolidated production from B2Gold’s three operating mines was 20 083 oz above its budget, producing 295 723 oz. Fekola, in Mali, and Otjikoto, in Namibia, each delivered a record performance of 165 557 oz and 68 959 oz, respectively. Masbate, in the Philippines, produced 61 207 oz and its performance was also above guidance.
B2Gold increased the guidance of the Fekola and Masbate mines, resulting in its consolidated guidance for its three operating mines increasing to between 965 000 oz and 995 000 oz, from between 920 000 oz and 970 000 oz.
For the third quarter, B2Gold reported consolidated gold revenue of $511-million on sales of 286 650 oz at an average realised price of $1 782/oz, compared with $487-million on sales of 253 200 oz at an average price of $1 924/oz in the same quarter last year.
Meanwhile, B2Gold has exercised its option to acquire an additional 19% interest in the Finland joint venture (JV) with Aurion Resources, taking its total interest to 70%.
The JV covers an area of about 331 km2 along the major crustal scale Sirkka Shear Zone in the Central Lapland Greenstone Belt, and includes a number of discoveries such as Kutuvuoma (16.47 g/t gold over 11.0 m), Soretiavuoma (48 g/t gold over 1.1 m), Sinermä (0.54 g/t gold over 40.2 m), Kiekerömaa (5.8 g/t gold over 5.0 m) and Kettukuusikko (4.33 g/t gold over 20.4 m).
Since the inception of the agreement, B2Gold has completed more than C$15-million in exploration expenditures, paid Aurion C$50 000 in cash and issued 550 000 B2Gold shares.
B2Gold would sole fund all programmes and budgets until completion of a feasibility study as required under the remaining option to acquire an additional 5% ownership interest, subject to its right to terminate sole funding at any time.
B2Gold is currently completing a 5 000-m diamond drill programme on the Kutuvuoma-Ikkari corridor, as well as base of till and trenching programmes on a number of targets in the eastern part of the JV property.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation