Gold’s 27% advance stands out in mixed year for metals markets
Gold is heading for one of its biggest annual gains this century.
Vancouver-based gold producer B2Gold Corp. (TSX: BTO) on Wednesday reported its operational and financial results for the third quarter and first nine months of 2019.
B2Gold also announced that, as part of the company’s long-term strategy to maximize shareholder value, the board of directors has declared B2Gold’s first ever dividend of $0.01 per common share, and expects to declare future dividends quarterly at the same level, which on an annualized basis would amount to $0.04 per share.
Gold production in Q3 2019 totalled 258,200 oz, which was 7% higher than the same quarter last year. For the nine-month period, consolidated gold production reached 735,079 oz, or 2% higher year-on-year.
For the full year, B2Gold expects its consolidated gold production to come in towards the midpoint of its previously stated guidance range of 935,000-975,000 oz, with cash operating costs forecast to be at or below the lower end of the company’s $520-$560/oz guidance range and AISC to be within its $835-$875/oz guidance range.
During the quarter, B2Gold’s new large-scale off-grid Fekola solar plant project in Mali was approved by the board, and is scheduled for completion in August 2020. The project is expected to provide significant operating cost reductions at Fekola and could boost gold production to about 600,000 oz next year.
