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The company that is 'perfectly set up' for this market

The company that is 'perfectly set up' for this market

FromKitco NEWS Roundtable


The company that is 'perfectly set up' for this market

FromKitco NEWS Roundtable

ratings:
Length:
47 minutes
Released:
Oct 16, 2020
Format:
Podcast episode

Description

 B2Gold's recent quarter showed that the company will be a "cash machine," said the CEO of Troilus Gold, Justin Reid.Reid joined editor Neils Christensen; correspondent Paul Harris; and mining audiences manager, Michael McCrae, to record a podcast on Friday.Troilus Gold is an exploration and development company focused on a mine restart. The project is located in northeast of the Val-d'Or district of Quebec and produced 2 million ounces of gold and almost 70,000 tonnes of copper between 1996 and 2010.This past week B2Gold announced 248,000 ounces of production in Q3, up 17% from a year ago. The company nearly tripled revenue coming in at $487 million compared to the $176 million from a year ago. Clive Johnson is CEO of B2Gold.Reid, a former mining analyst, was impressed.  "First of all, they sold gold at an average price of $1,924 ounce," noted Reid. "When was the last time anybody did that? And...they're debt free. They paid back their revolver. They have absolutely no debt. Their cap ex is behind them, and now it's a free cashflow machine."The panel also discussed other news:Argonaut Gold is going ahead with a $380 million mine in Ontario.China-based Shandong Gold Mining's $230 million acquisition of TMAC Resources is now under a security review.Barrick Gold's third-quarter gold output dropped due to no production at the Porgera mine, in Papua New Guinea. In late April, the mine was placed under care and maintenance due to a dispute over its mining lease.
Released:
Oct 16, 2020
Format:
Podcast episode

Titles in the series (100)

Join Kitco Kitco correspondent Paul Harris and mining audiences manager Michael McCrae who highlight the biggest news in precious metals and mining.