- B2Gold released its preliminary Q1 results last week and reported quarterly gold production of ~220,600 ounces, which translated to a 17% decrease year-over-year.
- This lower production and sales rate offset the higher average realized gold price in the period, with revenue declining by 5% year-over-year to ~$362 million.
- Fortunately, the company is expected to have a much stronger second half to the year, and Fekola's mill continues to fire on all cylinders, running at well above nameplate capacity.
- However, with B2Gold being one of the few miners with flat earnings year-over-year, and a smaller reserve base than its million-ounce producer peers, I see more attractive opportunities elsewhere in the sector.
For further details see:
B2Gold: Q1 Production Comes In Well Above Budget