Sunday, 14th August 2022

B2Gold, which has mines in Namibia, Mali and the Philippines produced 208,858 ounces of gold in the second quarter of the year.

Total output for the period under review was 223,623 ounces, including 14,765 ounces of attributable production from Calibre Mining.

The company said production was 6% higher when compared to the second quarter of 2021, mainly due to the record quarterly mill throughput achieved at the Fekola Mine in southwest Mali.

In addition, the processed grade was higher at the Otjikoto Mine in Namibia due to significant waste stripping operations at both the Wolfshag and Otjikoto pits in the first half of 2021.

B2Gold said production from the company's three operating mines is expected to be significantly weighted to the second half of 2022 primarily due to the timing of higher-grade ore mining.

The miner said it remains on track to achieve its total gold production guidance of between 990,000 and 1,050,000 ounces in 2022, with total consolidated cash operating costs forecast to be between $620 and $660 per ounce.

Meanwhile, consolidated gold revenue was $382 million on sales of 205,300 ounces in the second quarter of 2022 compared to $363 million on sales of 200,071 ounces, a year earlier.

The gold was sold at an average realised price of $1,861 per ounce against $1,814 per ounce in the second quarter of 2021.

The increase in gold revenue of 5% was attributable to a 2.5% increase in the average realised gold price and a 2.5% increase in gold ounces sold.    

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