B2Gold Corp. Reports Q2 Earnings: Operational Success, Strong Financial Position, and Strategic Milestones

B2Gold Corp. reported Q2 operational successes, including exceeding production expectations at Fekola, Masbate, and Otjikoto mines, and the inaugural gold ore production at Goose Mine. The company achieved a strong financial position, with operating cash flow at $301 million and $308 million in cash and equivalents. B2Gold revised its consolidated cash cost guidance to $740-$800 per ounce and reiterated its 2025 production guidance of 970,000 to 1,075,000 ounces.

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) has reported robust operational and financial results for the second quarter of 2025, highlighting its strong performance across all three operations. The company exceeded production expectations at its Fekola, Masbate, and Otjikoto mines, while also achieving the inaugural gold ore production at the Goose Mine.

Gold production in the second quarter of 2025 was 229,454 ounces, surpassing expectations. The Fekola, Masbate, and Otjikoto mines all exceeded their production targets, with the company remaining on track to meet its consolidated annual production guidance. The Goose Mine, which achieved its first gold pour in the quarter, is expected to reach full commercial production in the third quarter of 2025. The company estimates gold production for 2025 to be between 120,000 and 150,000 ounces.

Operating cash flow for the quarter was $301 million, with the company reporting cash and cash equivalents of $308 million as of June 30, 2025. The company's strong financial position is further reflected in its working capital deficit of $19 million, which was driven by the classification of gold prepayment obligations as current liabilities.

Cash operating costs were $745 per gold ounce produced, which was better than expected due to lower fuel costs and higher gold production. All-in sustaining costs were $1,519 per gold ounce sold, reflecting the impact of higher gold royalties despite lower production costs per gold ounce sold.

The company also announced the positive feasibility study results for the Gramalote Project in Colombia, with an after-tax NPV of $941 million and an after-tax IRR of 22.4% at a $2,500 per ounce gold price. B2Gold has commenced the work of amending the existing mine plan and environmental permits for the project.

B2Gold's Board of Directors declared a cash dividend of $0.02 per share for the third quarter of 2025, payable on September 23, 2025, to shareholders of record as of September 10, 2025.

References:
[1] https://www.b2gold.com/news-media/news-releases/news-details/2025/B2Gold-Reports-Q2-2025-Results/default.aspx