B2Gold Corp. (NYSE:BTG) Q3 2024 Earnings Conference Call November 7, 2024 11:00 AM ET
Company Participants
Clive Johnson - President and Chief Executive Officer
Mike Cinnamond - Senior Vice President, Finance and Chief Financial Officer
Bill Lytle - Senior Vice President and Chief Operating Officer
Victor King - Senior Vice President, Exploration
Conference Call Participants
Anita Soni - CIBC Gold Markets
Don DeMarco - National Bank
Ralph Profiti - Eight Capital
Ovais Habib - Scotiabank
Operator
Thank you for standing by. This is the conference operator. And welcome to B2Gold Corporation's Third Quarter 2024 Financial Results Conference Call. [Operator Instructions]
I would now like to turn the conference over to Clive Johnson, President and CEO of B2Gold. Please go ahead.
Clive Johnson
Thank you, operator. Welcome to the call. We're here in Vancouver with the B2Gold Executive team. And I'm going to pass it over to Mike Cinnamond to talk about the financial results for the third quarter, and then Bill Lytle is going to give us an update on Mali operations and also the Goose project construction progress.
So over to you, Mike.
Mike Cinnamond
Thanks, Clive.
On the operating side, I think it's a similar story to what we saw for the first two quarters of the year, with Masbate and Otjikoto results continue to meet or beat budget. But as we previously guided towards Fekola had a weaker quarter as a result of the delay in receiving a replacement excavator after the existing loan was damaged beyond repair in the first half of '24.
As we look to '25, we expect to see significant production growth at Fekola driven by better grades being mined at the Fekola pit combined with the contribution of trucking of ore from Fekola Regional and the expansion of Fekola underground production.
When you put it all together so beat Masbate and Otjikoto, Fekola is slightly behind. But where we stand with that overall for the year, we still think we're on track to come in now at the low end of our revised production guidance range. And with that lower production, we expect to come in towards the upper end of our revised cash cost and all-in sustaining cost guidance.
Other significant event in the quarter, we completed the MOU with the state of Mali on the future economic and governance parameters of the Fekola complex, including the Fekola Mine and Fekola Regional. And that's a significant amount for B2Gold and lets us move forward and realize the value that we see and the upside we see in those projects.