B2Gold Corp announces its operational and financial results for the fourth quarter (4Q) and full year 2024. The Company previously released its gold production and gold revenue results for the fourth quarter and full year 2024. According to the 2024 4Q and full year highlights, total gold production of 186,001 ounces in Q4 2024. Total gold production in the fourth quarter of 2024 was 186,001 ounces.
Masbate and Otjikoto both continued to outperform expectations in the fourth quarter of 2024, which partially offset lower than expected production levels at Fekola during the quarter due to the continued delays in accessing higher-grade ore from Fekola Phase 7, a result of lower realized mine production from the Fekola Phase 7 and Cardinal pits during the period.
Mining and processing of these higher-grade tonnes is now expected in 2025 as equipment availability had returned to full capacity and mining rates were at expected levels at the end of 2024. All three operations are meeting or exceeding gold production expectations to start 2025.
Total consolidated cash operating costs of $968 per gold ounce produced in Q4 2024: Total consolidated cash operating costs were $968 per gold ounce produced during the fourth quarter of 2024, higher than expected as a result of lower than anticipated production in the quarter.
Total consolidated all-in sustaining costs of $1,668 per gold ounce sold in Q4 2024. Total consolidated all-in sustaining costs were $1,668 per gold ounce sold during the fourth quarter of 2024, higher than expected as a result of lower than anticipated gold ounces sold resulting from lower than anticipated production, higher than expected royalties resulting from a higher than anticipated gold price, and new royalties implemented in 2024 for Fekola.
Total annual consolidated gold production of 804,778 ounces. Total consolidated gold production for 2024 was 804,778 ounces (including 19,644 attributable ounces from Calibre Mining Corp. (“Calibre”)), at the low end of the Company’s 2024 guidance range.
Total consolidated cash operating costs and all-in sustaining costs for 2024 within their guidance ranges: Total consolidated cash operating costs for 2024 were $889 per gold ounce produced, at the upper end of the annual guidance range of between $835 and $895 per gold ounce. Total consolidated all-in sustaining costs for 2024 were $1,465 per gold ounce sold, within the annual guidance range of between $1,420 and $1,480 per gold ounce.
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