The Company is working closely with national and local authorities and continues to closely monitor each site’s situation, including public and employee sentiment to ensure that stakeholders are in alignment with continued operation, while ensuring the safe operation of its mines.Consolidated gold production in the second quarter of 2020 was 239,574 ounces, above budget by 3% (7,327 ounces) and a significant increase of 15% (30,684 ounces) over the second quarter of 2019 (excluding discontinued operations) with solid performances from all the Company’s operations. Gold production is scheduled to be weighted towards the second half of the year (54%), as mined grade from the new Montana Pit is expected to be higher in the second half of the year. forecast to be at or below the lower end of the Company’s $520 and $560 per oz B2Gold Reports Record Quarterly Total Gold Production of 262,632 Oz and Record Quarterly Gold Revenue of $380 M from its Mines for the First Quarter of 2020; Remains on Track to Meet Annual Guidance of 1,000,000 to 1,055,000 Oz of Total Gold Production Mar 30, 2020 [ PDF ] [ PDF ] [ PDF ] For the first half of 2020, the Otjikoto Mine produced 85,245 ounces of gold, above budget by 3% (2,705 ounces) and 22% (15,112 ounces) higher than the first half of 2019.Based on current assumptions, for full-year 2020, the Otjikoto Mine is forecast to produce between 165,000 and 175,000 ounces of gold, from the Otjikoto and Wolfshag Pits, at cash operating costs of between Ongoing exploration work continues with a focus on infill drilling of the Inferred Mineral Resource which is expected to be completed in The Colombian government in Antioquia continues to closely manage levels of business activities and public movement with a view to gradually reopening the economy while ensuring adequacy of medical facilities including public testing, contact tracing and intensive care units. For full-year 2020, the Masbate Mine is expected to produce between 200,000 and 210,000 ounces of gold in total from the Main Vein and Montana Pits, at cash operating costs of between During the second quarter of 2020, the Otjikoto Mine processed 0.87 million tonnes (compared to budget of 0.85 million tonnes and 0.87 million tonnes in the second quarter of 2019) at an average grade of 1.58 g/t (compared to budget of 1.58 g/t and 1.36 g/t in the second quarter of 2019) and average gold recoveries of 98.6% (compared to budget of 98.0% and 98.5% in the second quarter of 2019).
The solar plant will also have a 15.4 MW hour battery component with up to 17.3 MW of discharge power. Fekola’s significant increase in gold production over the second quarter of 2019 was mainly due to the expansion of the Fekola mining fleet and optimization of the pit designs and mine plan for 2020, which have provided access to higher grade portions of the Fekola deposit earlier than anticipated in previous mine plans. Sustaining capital costs in 2020 at the Otjikoto Mine are budgeted to total Based on an amended and restated shareholders agreement with Anglogold Ashanti ("AngloGold"), on B2Gold plans to announce the results of a Preliminary Economic Assessment for the Gramalote Project within the week of The Environmental Impact Study and Project Implementation Plans for the Gramalote Project have been fully approved by the National Authority of Environmental Licenses of Following a very successful year for exploration in 2019 (the Company intends to announce an updated Fekola Mineral Resource Statement later this week), B2Gold is planning another year of aggressive exploration in 2020 with a budget of approximately In 2020, the Company has also budgeted approximately 41,000 metres of diamond drilling and RC drilling on several zones in the The Masbate exploration budget for 2020 is approximately Based on current assumptions, including a gold price of In the fourth quarter of 2020, the Company will receive the final cash installment (As part of the Company's long-term strategy to maximize shareholder value, in the fourth quarter of 2019, B2Gold's Board of Directors declared its first dividend of The Company's ongoing strategy is to continue to maximize profitable production from its mines, reduce debt, expand the Fekola Mine throughput and annual production, further advance its pipeline of development and exploration projects and evaluate exploration opportunities. B2Gold maintains FY 2020 production guidance of 1M-1.05M oz. cash costs are projected to remain low for 2019 with cash operating costs
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