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B2Gold posts $18 million first quarter profit as production rises in Nicaragua

Monday, June 13, 2011

Vancouver-based miner B2Gold posted an adjusted net profit of $18.1 million for the first quarter, compared with a $3.3 million loss a year earlier, thanks to increased gold prices and a big jump in production at operations in Nicaragua.

B2Gold, which operates the Limón and La Libertad mines, produced 34,733 oz of gold during the quarter, compared with 16,265 oz in the same period a year ago.

B2Gold expects to produce between 88,000 and 94,000 oz at La Libertad this year, and 42,000 to 46,000 oz of gold at the Limón mine.

Original source: Creamer’s Mining Weekly