B2Gold (BTO.TO, NYSE:BTG) has released its financial statemens for the third quarter of this year in November, and fortunately there weren’t any big surprises. The company produced just over 90,000 ounces of gold at a cash cost of $732/oz which was in line with expectations.
What’s more important is the announcement that its Masbate gold mine in the Philippines reached a new monthly production record in October as it produced 20,432 ounces of gold. That’s an important side note as that should contribute to a decent Q4 and will compensate for the short shutdown during the typhoon. Additionally, B2Gold has confirmed that its Otjikoto project in Namibia has already poured its first gold bar (ahead of schedule). These two factors obviously bode well for 2015 which should increase the gold output once again. Moreover, now the acquisition of Papillon Resources has been completed, B2Gold’s continuous production growth is ensured.
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Disclosure: The author holds no position in B2Gold. Please see our disclaimer for current positions.
