August 14, 2012 / 12:05 PM / 5 years ago

B2Gold profit falls on higher costs

Aug 14 (Reuters) - Canadian miner B2Gold Corp reported a 21 percent fall in quarterly profit on higher costs.

The net income fell to $11.9 million, or 3 cents per share, in the second quarter from $15.0 million, or 5 cents per share, a year earlier.

On an adjusted basis, the Vancouver, British Columbia-based company earned 6 cents per share.

The company, which has two mines in Nicaragua, said gold production was 36,803 ounces at a cash cost of $583 per ounce, compared to 36,760 at a cash cost of $507 per ounce a year earlier.

Gold revenue rose 5 percent to $57.3 million .

B2gold’s shares, which have risen 11 percent so far this year, closed at C$3.42 on Toronto Stock Exchange on Monday. (Reporting by Ankur Banerjee in Bangalore; Editing by Don Sebastian)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below