B2Gold Reports Q3 2025 Results

Core Viewpoint - B2Gold Corp. reported strong operational and financial results for Q3 2025, with significant gold production and improved cost metrics, while also announcing a revised production guidance for the Goose Mine due to operational challenges. Production and Financial Performance - Total gold production in Q3 2025 was 254,369 ounces, including pre-commercial production from the Goose Mine, with the Fekola, Masbate, and Otjikoto mines exceeding expectations [2][3] - Consolidated cash operating costs were $780 per gold ounce produced, better than expected due to higher production and lower fuel costs [2][3] - Consolidated all-in sustaining costs were $1,479 per gold ounce sold, in line with expectations despite higher gold royalties from increased average realized gold prices [2][3] Guidance and Production Adjustments - Production guidance for the Fekola, Masbate, and Otjikoto mines remains unchanged at 890,000 to 965,000 ounces for 2025, while the Goose Mine's guidance was revised to 50,000 to 80,000 ounces due to operational delays [2][3] - Mining and processing of higher-grade ore from the Umwelt underground at the Goose Mine commenced in late October 2025 [2][3] Financial Position - At September 30, 2025, the company had cash and cash equivalents of $367 million and working capital of $35 million, reflecting a strong financial position [5][57] - The company drew $200 million under its revolving credit facility during Q3 2025 and subsequently repaid $50 million, leaving $650 million available for future drawdowns [5][57] Development Projects - An approved development decision on the Antelope underground deposit is expected to increase Otjikoto Mine production to approximately 110,000 ounces per year [2][36] - The Goose Mine achieved commercial production on October 2, 2025, with plans to ramp up to full capacity by the end of 2025 [2][42][44] Dividend Declaration - The Board of Directors declared a cash dividend of $0.02 per share for Q4 2025, payable on December 15, 2025 [4][6]