The stronger than expected performance was driven by above-plan results from the Fekola mine in Mali, as well as from the Masbate, Otjikoto and El Limon mines. Fekola produced 110,349oz with Masbate second at 57,481oz for the quarter.
At US$1,300/oz gold, the company expects to generate cash flows from operations of about $410 million for 2019.
B2Gold reported consolidated gold revenue for the period of $302 million on sales of 232,076oz at an average price of $1,300/oz, compared to $344 million on sales of 259,837oz at an average price of $1,325/oz in the comparable quarter last year.
The company last month announced positive results from a PEA on expansion at Fekola to increase average annual output to 550,000oz in the five years between 2020-2024.
The mine is currently forecast to produce between 420,000-430,000oz in 2019, with Masbate to produce 200,000-210,000oz this year.
The company is also advancing with an expansion project to lift Fekola's processing throughput by 1.5Mt/y to 7.5Mt/y.
B2Gold also expects to complete an updated PEA for the 49%-owned Gramalote project in Colombia this quarter. If the PEA is positive, the company and joint venture partner AngloGold Ashanti will weigh up moving a final feasibility study.
B2Gold said it remained well positioned for continued strong operational and financial performance with 2019 gold production forecast to be 935,000-975,000oz at AISC of $835-$875/oz.
At the Thursday closing price of C$3.62 in Toronto, B2Gold was close to its trading level a year ago, capitalising it at $3.64 billion.
