Toronto-listed miner B2Gold on Tuesday said it had achieved a marginal quarter-on-quarter increase in gold production from its two Nicaragua mines, lifting production by 6% to 36 803 oz.
However, the company pointed out that it expected output to increase further in the second half of the year, and that it planned to produce about 185 000 oz in 2013 and 200 000 oz by 2014.
The added production would come from processing higher-grade ore from the Jabali deposit through the Libertad mill.
B2Gold expected to produce between 150 000 oz and 160 000 oz of gold for the year, at a cash cost of about $590/oz to $625/oz.
During the second quarter, B2Gold raised its revenue by 5% to $57.3-million from the sale of 35 860 oz of gold.
The La Libertad mine lifted production by 3.67% to 25 135 oz during the quarter, compared with the first quarter production totalling 24 246 oz and remained on track to meet its full-year guidance.
The Limon mine increased gold production by 12.7% to 11 668 oz, compared with 10 356 oz in the first quarter. The mine remained on track to meet its full-year guidance.
Shares of the company, which has a market value of about C$1.28-billion, traded at C$3.31 on Tuesday on the TSX.
The company also holds a portfolio of development and exploration assets in Nicaragua, Namibia, Colombia and Uruguay.
Edited by: Creamer Media Reporter