B2Gold / BTO:TSX
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B2Gold Reports Q2 2025 Results
2025 Second Quarter Highlights
- Gold production of 229,454 ounces: Consolidated gold production in the second quarter of 2025, including pre-commercial production from the Goose Mine, was 229,454 ounces, higher than expected. The Fekola, Masbate and Otjikoto mines all exceeded expected production in the second quarter, and the Company remains on track to meet its consolidated annual production guidance range. All three operations continue to meet or exceed gold production expectations to start the third quarter of 2025.
- Consolidated cash operating costs of $745 per gold ounce produced: Consolidated cash operating costs (see “Non-IFRS Measures”), excluding pre-commercial production from the Goose Mine, were $745 per gold ounce produced ($762 per gold ounce sold) during the second quarter of 2025. Cash operating costs per ounce produced for the second quarter of 2025 were better than expected as a result of lower than expected fuel costs and higher than expected gold production.
- Consolidated all-in sustaining costs of $1,519 per gold ounce sold: Consolidated all-in sustaining costs (see “Non-IFRS Measures”) were $1,519 per gold ounce sold during the second quarter of 2025. Consolidated all-in sustaining costs for the second quarter of 2025 were higher than expected as lower production costs per gold ounce sold and lower sustaining capital expenditures were offset by higher gold royalties resulting from a higher than expected average realized gold price and lower than expected ounces sold. The lower sales ounces were a result of the timing of shipments from the Company's Masbate and Fekola Mines, which were delivered and sold in July 2025.
- Attributable net income of $0.12 per share; adjusted attributable net income of $0.12 per share: Net income attributable to the shareholders of the Company of $154 million, or $0.12 per share; adjusted net income (see “Non-IFRS Measures”) attributable to the shareholders of the Company of $163 million, or $0.12 per share.
- Operating cash flow before working capital adjustments of $301 million: Cash flow provided by operating activities before working capital and long-term value-added tax adjustments was $301 million in the second quarter of 2025.
- Strong financial position and liquidity: At June 30, 2025, the Company had cash and cash equivalents of $308 million and working capital deficit (defined as current assets less assets classified as held for sale and current liabilities) of $19 million. Working capital at June 30, 2025 reflects the classification of the Company’s gold prepayment obligations as current liabilities. As of June 30, 2025, the full amount of the Company's $800 million revolving credit facility (“RCF”) was available for future draw downs.
- Inaugural gold pour achieved at the Goose Mine; ramp up to commercial production ongoing and expected to be achieved in the third quarter of 2025; estimated gold production of 120,000 to 150,000 ounces in 2025: With first gold achieved, as announced on June 30, 2025, focus now turns to continuing steady state operations and increasing throughput to full design capacity. The Company continues to estimate that gold production in calendar year 2025 will be between 120,000 and 150,000 ounces and that average annual gold production for the six year period from 2026 to 2031 inclusive will be approximately 300,000 ounces per year, based only on existing Mineral Reserves.
- Positive Feasibility Study on the Gramalote Project in Colombia announced; after-tax NPV (5%) of $941 Million with an after-tax IRR of 22.4% at a $2,500 per ounce gold price: On July 14, 2025, B2Gold announced positive Feasibility Study (“FS”) results on the Company’s 100% owned Gramalote Project. The FS for the Gramalote project indicates an initial life of project of 13 years, with average annual production of 227,000 ounces over the first five years. Based on the project economics, B2Gold has commenced the work of amending the existing mine plan and environmental permits which are currently in place for a larger-scale project. B2Gold currently anticipates the permit modification to the new medium-scale project reflected in the current FS could be completed over the next 12 to 18 months.
- Received approval to commence underground mining at Fekola: On July 30, 2025, the State of Mali granted approval for the Company to commence underground mining at the Fekola Mine. Subsequent to receipt of the approval, the Company commenced stope ore development and production at the Fekola underground, and Fekola underground ore that was stockpiled during the underground exploration development stage is currently being processed through the Fekola mill.
- Fekola Mine reaches production milestone of four million ounces of gold produced: Subsequent to June 30, 2025, the Fekola Mine achieved lifetime production of four million ounces of gold, seven years and ten months from construction completion.
- New Board of Director appointment: On August 6, 2025, Mary-Lynn Oke, CPA, was appointed to B2Gold's Board of Directors (the “Board”). Ms. Oke brings extensive corporate finance experience, and currently serves on the Boards of Directors of NexGold Mining Corp. and Jaguar Mining Inc.
- Q3 2025 dividend of $0.02 per share declared: On August 7, 2025, B2Gold's Board of Directors declared a cash dividend for the third quarter of 2025 of $0.02 per common share (or an expected $0.08 per share on an annualized basis), payable on September 23, 2025, to shareholders of record as of September 10, 2025.
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B2Gold Provides an Update on Goose Mine Commissioning, Confirms Consolidated 2025 Production Guidance Range, and Provides Operational Updates for the Fekola, Masbate, and Otjikoto Mines
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Zusammenfassung und Übersetzung durch Copilot:
B2Gold – Betriebsupdate 2025
Gesamtproduktion:
B2Gold bestätigt eine Goldjahresproduktion 2025 zwischen 970.000 und 1.075.000 Unzen.
Goose Mine – Kanada
- Erste Goldproduktion: am 30. Juni 2025.
- Kommerzielle Produktion: wird in den kommenden Wochen erwartet.
- Produktionsprognose 2025: angepasst auf 80.000–110.000 Unzen (ursprünglich 120.000–150.000 Unzen) wegen Engpässen in der Brechanlage.
- Q4 2025: erwartet ca. 70.000 Unzen.
- Langfristige Prognose:
- 2026: ca. 250.000 Unzen
- 2027: ca. 330.000 Unzen
- Ø 2026–2031: ca. 300.000 Unzen/Jahr
- Optimierungen: Studien zur Kapazitätserweiterung (z. B. SAG-Mühle, Flotationsverfahren) laufen und sollen Ende 2025 abgeschlossen sein.
Fekola Complex – Mali
- Leistung: über Plan, auch im Q3 2025.
- Genehmigung für Untertagebau: erhalten am 30. Juli 2025, Produktion bereits gestartet.
- Fekola Regional: Genehmigung für Ausbeutung wird bis Ende Q3 2025 erwartet, Produktion ab Anfang 2026.
- Produktionsprognose 2025: bestätigt mit 515.000–550.000 Unzen
- Untertagebau: 30.000–40.000 Unzen (statt 25.000–35.000)
- Tagebau (Fekola & Cardinal): 485.000–510.000 Unzen
Otjikoto Mine – Namibia
- Leistung: über Plan, besonders beim Erzgehalt.
- Produktionsprognose 2025: erhöht auf 185.000–205.000 Unzen (vorher 165.000–185.000).
- Antelope-Untertageprojekt: genehmigt, Produktionsstart ab 2026 möglich.
- Ziel: Ø 110.000 Unzen/Jahr
- Investitionskosten gesenkt von 129 Mio. USD auf 105 Mio. USD
Masbate Mine – Philippinen
- Leistung: über Plan, besonders bei Durchsatz.
- Produktionsprognose 2025: erhöht auf 190.000–210.000 Unzen (vorher 170.000–190.000)
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B2Gold Achieves Commercial Production at the Goose Mine
Oct. 06, 2025 8:00 AM ETB2Gold Corp. (BTG), BTO:CA
VANCOUVER, British Columbia, Oct. 06, 2025 (GLOBE NEWSWIRE) -- B2Gold Corp. (BTO:CA) (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) (“B2Gold” or the “Company”) is pleased to announce that the Goose Mine, part of the Back River Gold District, located in Nunavut, Canada (the “Goose Mine”), achieved commercial production on October 2, 2025.
B2Gold has declared commercial production at the Goose Mine based on an internal commercial production measure of 30 consecutive days of average mill throughput at 65% or greater based on the mill design capacity of 4,000 tonnes per day (“tpd”). From September 3, 2025 through October 2, 2025, the mill achieved an average throughput of 2,652 tpd, which represents 66% of design capacity. Mill feed over the 30-day commercial production period has been predominantly from the mined out Echo open pit.
Crushed ore availability has significantly increased in the second half of September as the supplemental mobile crusher has been integrated with the primary crushing plant. From September 19, 2025 to October 2, 2025, ore has been crushed at a rate of 183 tonnes per hour (which equates to 4,385 tpd extrapolated over a 24 hour period). Through this same period, the mill has achieved an average throughput of 3,249 tpd, which represents 81.2% of design capacity. B2Gold believes that the Goose mill can operate near design capacity of 4,000 tpd through the fourth quarter of 2025.
Open pit and underground mining rates at the Umwelt deposit have continued to meet or exceed expectations during the 30-day commercial production period. For the fourth quarter of 2025, mill feed will predominantly come from the Umwelt deposit and is expected to average between 6.5 and 7.0 grams per tonne gold. Gold recoveries have been in line with expectations through the 30-day commercial production period, and are expected to average higher than 90% through the fourth quarter of 2025 and beyond.
Clive Johnson, President and CEO of B2Gold stated, “It is with great pleasure that we announce the Goose Mine has achieved commercial production. This tremendous achievement comes just over three months after the commencement of mill operations. I would like to thank our construction and operations teams, whose tireless efforts have made this entire project possible, and acknowledge our partner, the Kitikmeot Inuit Association, for their longstanding support. The Goose Mine will be a cornerstone of B2Gold’s production base and demonstrates the strength of our construction and operating teams worldwide. We view this milestone as just the beginning for the Back River Gold District and look forward to many years of safe and successful production in Nunavut, Canada.”
The Company reiterates the near-term and long-term gold production estimates at the Goose Mine, which includes 80,000 to 110,000 ounces of gold production in 2025, approximately 250,000 ounces of gold production in 2026, approximately 330,000 ounces of gold production in 2027, and average annual gold production for the initial full six years of operations (2026 to 2031 inclusive) of approximately 300,000 ounces per year, based only on existing Mineral Reserves.
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Ich tu mir schwer mit diesem Wert.
Einschätzung und Zahlen bei Marketscreener
Nettoergebnis für 2026 soll sich Dank der neuen Gosse Mine (ex Sabina Gold + Silver) fast verdoppeln.
Könnte sein, dass die Aktie ab Ende Dezember besser performt, da vor Silvester die schwachen Werte wegen der Steuerverrechnung abgestoßen werden.
Entscheiden kannst nur Du selbst.
LG Vatapitta
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B2Gold Reports Q3 2025 Results
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ich werde eher nachkaufen und verbilligen - die sind schon klar unterbewertet - klar ist Mali ein… Anmelden oder registrieren
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