B2Gold Corp. (NYSEAMERICAN:BTG) Announces 78% Increase In Third Quarter 2018 Gold Productions


B2Gold Corp. (NYSEAMERICAN:BTG)  recently announced a 78% increase in its third quarter 2018 gold productions and gold revenue. The company also reported the gold production and revenue for the first nine months of this year.

Major highlights of third quarter 2018 gold productions

The company recorded third quarter 2018 gold productions of 242,040 ounces which is 78% more than the production of gold during the same period last year. The increase in production and revenue is because of the strong performances of Philippine’s Masbate Mine, Fekola Mine in Mali, and Namibia’s Otjikoto Mine.

The company registered a consolidated $324 million increase in gold revenue from $170 million of last year during the same period. Fekola mine worked as per the plans of B2Gold Corp producing 107,002 ounces of gold in the third quarter. Masbate Mine produced 57,542 ounces gold which is the second highest ever gold produced by the mine in a quarter. The revised annual production of Masbate based on its year-to-date performance is in between 200,000 and 210,000 ounces of gold.

The first nine-months recorded a consolidated 721,817 ounces production which is 85% more than the first nine months of last year. The consolidated gold revenue recorded year-to-date is $953 million. The company increased the Mali exploration budget for 2018 by $4 million, from $15 million in 2017 to $19 million this year. The company increased the budget on the basis of good drills results and also to increase the speed of the existing Fekola North Extension zone drill program.

B2Gold Corp shares rally sharply

Due to the positive third quarter 2018 gold productions report, the company shares rallied sharply in the last few days. It is because the investors expect much better from the company post declaration of an impressive third quarter figure for this year. A day before B2Gold Corp announced its third-quarter results the shares of the company opened at $3.08. However, within a few days its stock gained by 15.3% reaching a high of $3.55.

The Vancouver-based senior gold producer company earns revenue on gold production through five operating mines and other multiple exploration and development projects in different countries. B2Gold Corp project locations include Namibia, the Philippines, Nicaragua, Colombia, Burkina Faso, Mali, and Finland.

This report is for information purposes only, and is neither a solicitation or recommendation to buy nor an offer to sell securities. Financials Trend is not-a-registered-investment-advisor. Financials Trend is not a broker-dealer. Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. Financials Trend accepts no liability for any losses arising from an investor's reliance on the use of this material. Financials Trend sometimes gets compensated up to one hundred and fifty thousand dollars per month for featuring particular stocks. See site disclaimer for complete compensation. Financials Trend and its affiliates or officers currently hold no shares of these stocks. Financials Trend and its affiliates or officers will purchase and sell shares of common stock of these stocks, in the open market at any time without notice. Financials Trend will not update its purchases and sales of these stocks in any future postings on Financials Trend's websites. Certain information included herein is forward-looking within the context of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. The words "may", "would," "will," "expect," "estimate," "anticipate," "believe," "intend," " project," and similar expressions and variations thereof are intended to identify for ward-looking statements. Such forward- looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. *Financials Trend does not set price targets on securities. Never invest into a stock discussed on this web site or in this email alert unless you can afford to lose your entire investment.