Canaccord
B2Gold* (BTO : TSX : $3.12), Net Change: -0.05, % Change: -1.58%, Volume: 4,626,227
Roll on Down the Highway. B2Gold reported solid Q4/12 earnings, as the growing gold producer continues to impress the market with its growth and execution. For the quarter the company reported adjusted diluted EPS was $0.04 versus Canaccord Genuity Precious Metals Analyst Rahul Paul’s estimate and guidance of $0.05, with the variance to his estimate explained by higher-than-expected non-operating expenses partly offset by higher gross margins. Production and sales were pre-released but cash costs were lower than expected at both La Libertad and Limon. The company reported cash costs of $587 per ounce, once again exceeded cash cost guidance of $590-625 per ounce. 2013 guidance from Nicaragua is unchanged at 185,000-195,000 ounces of gold at cash operating costs of $605-635 per ounce. At the company’s flagship La Libertad mine in Nicaragua the company expects 2013 production of 131,000-137,000 ounces of gold in 2013 at an operating cash cost of approximately $560- 590 per ounce. Paul continues to expect the company to produce a total of 374,000 ounces at total cash costs of $736 per ounce for 2013.