- B2Gold released its Q1 results this month, reporting quarterly production of ~209,400 ounces, with all-in sustaining costs of $1,036/oz, well below my estimates of $1,200/oz.
- This allowed the company to post higher revenue vs. Q1-21 despite a period of elevated stripping at Fekola and allowed the company to see minimal margin compression.
- Looking out over the remainder of 2022, costs look like they could come in below guidance, and the company has a much stronger H2 ahead as grades improve.
- Given B2Gold's near unparalleled consistency when it comes to over-delivering and its attractive dividend yield, I would view pullbacks below $3.80 as low-risk buying opportunities.
For further details see:
B2Gold: A Steady Dividend Payer At A Very Reasonable Price