VANCOUVER, British Columbia, April 19, 2017 (GLOBE NEWSWIRE) -- B2Gold Corp. (TSX:BTO) (NYSE MKT:BTG) (NSX:B2G) ("B2Gold" or the "Company") is pleased to announce its gold production and gold revenue for the first quarter of 2017. All dollar figures are in United States dollars unless otherwise indicated.

2017 First Quarter Highlights
  • Consolidated gold production of 132,736 ounces, 6% (or 7,955 ounces) above budget and 4% (or 4,892 ounces) higher than the same period in 2016 
  • Consolidated gold revenue of $146.3 million on sales of 119,937 ounces at an average price of $1,219 per ounce
  • Company is on track to meet its 2017 annual guidance of between 545,000 to 595,000 ounces of gold production
  • Fekola Project mine construction remains 3 months ahead of schedule for an anticipated October 1, 2017 production start and remains on budget
  • On March 29, 2017, received the 2016 Award for "Friend of the Environment" and the 2016 Award for "Exporter of the Year" in Nicaragua

Gold Production

Consolidated gold production in the first quarter of 2017 was 132,736 ounces, 6% (or 7,955 ounces) above budget and 4% (or 4,892 ounces) higher than the first quarter of 2016. Gold production from the Company's Masbate, Otjikoto and La Libertad mines all exceeded expectations. The Otjikoto Mine had a very strong start to the year with first quarter gold production of 42,774 ounces, significantly above budget by 20% (or 7,082 ounces) and also 20% (or 7,071 ounces) greater than the first quarter of 2016. The Masbate Mine also continued its very strong operational performance producing 52,562 ounces of gold, 5% (or 2,569 ounces) above budget and comparable with the prior-year quarter.

For full-year 2017, B2Gold is projecting another year of growth with consolidated gold production expected to be in the range of between 545,000 and 595,000 ounces (including estimated pre-commercial production from Fekola of between 45,000 and 55,000 ounces). Based on Fekola's current mine construction progress, the Fekola Project remains 3 months ahead of schedule and is planning for an October 1, 2017 production start. Gold production in 2017 is anticipated to be weighted towards the second half of the year (57%) due to the anticipated start-up of Fekola on October 1, 2017 combined with lower expected average strip ratios in the second-half.

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