B2Gold (TSX:BTO)(NYSE: BTG) said on Monday that its consolidated gold revenue for the second quarter of the year reached a record-high of $442 million, a 65% increase from the same period last year.
The mid-tier Canadian miner attributed the solid results to a 31% rise in the average realized gold price during the period and to sales jumping by 26%.
The Vancouver-based company also saw overall production increase by 15% in the April to June period to 239,574 ounces, compared to the same quarter in 2019 and not including discontinued operations.
The increase was driven by its Fekola mine in Mali, B2Gold said, where production climbed by 29% to 147,424 ounces.
The company attributed the output jump to the expansion of the Fekola mining fleet and the optimization of the pit designs and mine plan for 2020. The improvements have provided access to higher grade portions earlier than previously anticipated, the company said.
B2Gold said it is on track to meet this year’s gold output guidance of between 1 million and 1.05 million ounces.
More to come…