B2Gold Reports Strong Q1 2021 Results VANCOUVER, BC, May 4, 2021 /PRNewswire/ - B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce its operational and financial results for the first quarter of 2021. The Company previously released its gold production and gold revenue results for the first quarter of 2021. All dollar figures are in United States dollars unless otherwise indicated.
2021 First Quarter Highlights
- Total gold production of 220,644 ounces (including 15,001 ounces of attributable production from Calibre Mining Corp. ("Calibre")), 9% (18,542 ounces) above budget, and consolidated gold production of 205,643 ounces from the Company's three operating mines, 9% (17,291 ounces) above budget
- Consolidated gold revenue was $362 million on sales of 202,330 ounces at an average price of $1,791 per ounce
- Consolidated cash flow provided by operating activities from the Company's three operating mines of $146 million; B2Gold maintains a strong financial position and liquidity with cash and cash equivalents of $513 million as at March 31, 2021
- Total consolidated cash operating costs (see "Non-IFRS Measures") of $609 per ounce produced, well-below budget by $54 per ounce produced (8%), and total consolidated all-in sustaining costs ("AISC") (see "Non-IFRS Measures") of $932 per ounce sold, significantly below budget by $146 per ounce sold (14%) (including estimated attributable results for Calibre)
- Net income attributable to the shareholders of the Company of $92 million ($0.09 per share); adjusted net income (see "Non-IFRS Measures") attributable to the shareholders of the Company of $97 million ($0.09 per share)
- No Lost-Time-Injury ("LTI") incidents at the Company's operating mines in the first quarter of 2021, extending the number of days without an LTI to 437 days for Fekola, 866 days for Masbate and 154 days for Otjikoto as at March 31, 2021
- Following the successful completion of the Fekola mill expansion to 7.5 million tonnes per annum ("Mtpa") in September 2020, Fekola's mill throughput was a quarterly record of 2.07 million tonnes in the first quarter of 2021, 9% above budget and 19% higher than the first quarter of 2020
- For full-year 2021, B2Gold remains well positioned for continued strong operational and financial performance with total gold production guidance of between 970,000 - 1,030,000 ounces (including 50,000 – 60,000 attributable ounces projected from Calibre) with total consolidated forecast cash operating costs of between $500 - $540 per ounce and total consolidated AISC of between $870 - $910 per ounce
- Based on current assumptions, including a gold price of $1,800 per ounce, the Company expects to generate cashflows from operating activities of approximately $630 million for the full-year 2021
- Selected as the recipient of five additional mining industry awards in the Philippines and Mali
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