B2Gold generated $836-million in revenue for the third quarter ended September 30, from the sale of 195,018 oz of gold at an average realised price of $4,289/oz.
The company produced 193,321 oz of gold for the period and is on track to deliver full-year production guidance at all its operations.
It said cash flow provided by operating activities was $239-million, with free cash flow of $48-million while consolidated all-in sustaining costs (AISC) were $2,602/oz sold for the quarter.
On the back of strong year-to-date operating performance, B2Gold has lowered its full-year AISC guidance to between $2,230/oz and $2,410/oz sold, down from the previously guided range of $2,370/oz to $2,550/oz.
The company returned $59-million to shareholders in the quarter, comprising $26-million in dividends and $33-million in share buybacks, and reported cash and cash equivalents of $294-million.
Operationally, Phase 1 upgrades to the Goose fixed crushing circuit were completed in October, with the circuit now operating at 3,200 t/d.
In Mali, B2Gold started mining pre-stripping activities at the Menankoto permit area in October, following the permit's grant on August 7.
“B2Gold delivered a strong third quarter, highlighted by continued outperformance from Masbate and Otjikoto and significant progress across several key strategic initiatives,” said company chief executive and president Mike Cinnamond.
Mathew Nyaungwa, Editor-in-Chief, Rough & Polished
