B2Gold Corp announces its gold production and revenue results for the fourth quarter and full year 2024, as well as its 2025 total gold production guidance and 2025 cost guidance for its current operating mines. B2Gold announces total consolidated gold production for 2024 of 804,778 oz, Within the Revised 2024 Guidance Range; Total Gold Production for 2025 Anticipated to be Between 970,000 and 1,075,000 oz; Goose Project Remains on Track for First Gold in Q2 2025 and Total Capital Estimate Remains at C$1,540 Million!
Total gold production of 186,001 ounces in Q4 2024: Total gold production in the fourth quarter of 2024 was 186,001 ounces. At the Fekola Mine, production was lower than expected 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. The Fekola Mine and mill are operating without limitations and gold production is being exported for refining as per its regular planned schedule. Masbate and Otjikoto both continued to outperform expectations in the fourth quarter of 2024, which partially offset a portion of the lower than expected production levels at Fekola during the fourth quarter.
Total annual consolidated gold production of 804,778 ounces: Total consolidated gold production for 2024 was 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp. (“Calibre”)), at the low end of the Company’s revised 2024 guidance range.
Strong quarterly gold revenue to finish 2024: Consolidated gold revenue in the fourth quarter of 2024 was $500 million on sales of 187,793 ounces at an average realized gold price of $2,661 per gold ounce. For the full year 2024, consolidated gold revenue was $1.90 billion on sales of 801,524 ounces at an average realized gold price of $2,373 per gold ounce.
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