B2Gold Corp. (NYSEAMERICAN: BTG) stock fell over 2.6% on March 13th, 2019 (As of 12:08 pm GMT-4; Source: Google finance). For the fourth quarter of 2018, consolidated gold revenue was $272 million on sales of 221,307 ounces at an average price of $1,230 per ounce compared to $174 million on sales of 137,695 ounces at an average price of $1,264 per ounce in the fourth quarter of 2017. In the fourth quarter of 2017, including 72,903 ounces of pre-commercial production from Fekola, consolidated gold production was 240,753 ounces. The 2017 results exclude $101 million of revenue from the sale of 79,243 ounces of pre-commercial production from Fekola. Adjusted net income for the fourth quarter of 2018 was $14 million ($0.01 per share) compared to adjusted net income of $6 million ($0.01 per share) in the fourth quarter of 2017.
Moreover, on December 31, 2018, the Company had cash and cash equivalents of $103 million compared to cash and cash equivalents of $147 million at December 31, 2017.
Meanwhile, 2018 was a year of transformational growth, highlighted by the first full-year of commercial production from its new large, low-cost Fekola Mine in Mali (which achieved commercial production on November 30, 2017) and record annual production from its Masbate Mine in the Philippines.
BTG in the fourth quarter of FY 18 has reported the adjusted earnings per share of 1 cents, missing the analysts’ estimates for the adjusted earnings per share of 2 cents, as per Zacks Investment Research.
Additionally, during the quarter, the Company announced a substantial increase in the gold mineral resource estimate for the Fekola Mine and positive results from the ongoing Fekola Mill Expansion Study. In October 2018, the Company was granted the mine permit for the Limon Central Pit in Nicaragua and announced positive results from the Expansion Study at El Limon Mine
Going forward, BTG will remain well positioned for continued strong operational and financial performance with production guidance of between 935,000 and 975,000 ounces of gold for 2019 with forecast cash operating costs of between $520 and $560 per ounce and AISC of between $835 and $875 per ounce; in addition, the Company will focus on organic growth through both expansion potential at its existing mines and through its exploration and development projects