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(Wallace Refiners) – B2Gold (TSX: BTO) announced Wednesday its consolidated gold production and gold revenues for the fourth-quarter and full-year 2020.
The company said that despite the challenges of the COVID-19 pandemic, B2Gold had another remarkable year of strong growth in 2020, with the achievement of B2Gold’s twelfth consecutive year of record annual gold production.
The company’s total gold production for 2020 was an annual record of 1,040,737 ounces (including 45,479 ounces of attributable production from Calibre), at the upper end of the guidance range (of between 1,000,000 – 1,055,000 ounces).
Consolidated gold production from the company’s three operating mines was an annual record of 995,258 ounces of gold, at the upper end of the guidance range (of between 955,000 – 1,005,000 ounces), and significantly higher by 17% (144,142 ounces) than 2019 (excluding discontinued operations).
The significant increase in gold production over 2019 was driven by the Fekola mine in Mali, which produced an annual record of 622,518 ounces of gold, exceeding the upper end of its guidance range (of between 590,000 – 620,000 ounces).
The Masbate mine in the Philippines achieved another strong year in 2020, producing 204,699 ounces of gold, at the midpoint of its guidance range (of between 200,000 – 210,000 ounces).
The Otjikoto mine in Namibia also had another solid year in 2020, producing 168,041 ounces of gold, near the midpoint of its guidance range (of between 165,000 – 175,000 ounces).
The company also posted record annual consolidated gold revenues of $1.79 billion, a significant increase of $0.63 billion (55%) over 2019 (excluding revenues from discontinued operations).
B2Gold’s total gold production is forecast to be between 970,000 – 1,030,000 ounces (including 50,000 – 60,000 ounces attributable ounces projected from Calibre) in 2021, with total consolidated cash operating costs forecast to be between $500 – $540 per ounce and total consolidated AISC forecast to be between $870 – $910 per ounce.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Wallace Precious Metals The author has made every effort to ensure accuracy of information provided; however, neither Wallace Precious Metals nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Wallace Precious Metals and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
