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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
B2Gold
B2Gold (BTO) investor relations material
B2Gold Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary5 Nov, 2026
Executive summary
Q3 production was 193,321 oz and sales were 195,018 oz; full-year production guidance of 820,000–920,000 oz remained on track.
Strong year-to-date performance at Masbate and Otjikoto, alongside lower expected Fekola royalties, supported reduced 2026 AISC guidance.
Financial highlights
Revenue was $836M on sales of 195,018 oz at an average realized gold price of $4,289/oz, versus $783M and $3,133/oz in Q3 2025.
Net income was $414M; net income attributable to shareholders was $409M. Adjusted net income was $183M, or $0.14/share; reported EPS was $0.31.
Operating cash flow was $387M before working-capital changes and $239M after; free cash flow was $48M.
Quarter-end cash was $294M, working capital was $497M, and $705M was available under the revolving credit facility.
Outlook and guidance
2026 consolidated AISC guidance fell to $2,230–$2,410/oz sold from $2,370–$2,550/oz; production, cost and capital guidance remained on track.
Goose throughput averaged 3,200 tpd after Phase 1 commissioning; Phase 2 upgrades are expected to support 4,000 tpd and a medium-term target of 300,000 oz/year.
Menankoto ore is expected at the Fekola plant in Q1 2027; Fekola Regional is expected to ramp through 2027 and produce over 150,000 oz/year from 2028.
Masbate 2026 cash cost guidance is $800–$900/oz produced and AISC is $1,250–$1,400/oz sold; Otjikoto AISC guidance is $1,630–$1,780/oz sold.
Goose Phase 2 includes a planned 10-week fixed-crusher shutdown in Q2 2027; mobile crushing and stockpiled ore are planned to support mill feed.
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Latest events from B2Gold
- Growth projects and completed major capital spending position the portfolio for its next phase.BTO
Corporate presentation - Goose ramp-up and regional projects frame the next leg of production growth.BTOCorporate presentation
- Major project execution, resource growth, and strong capital returns drive future expansion.BTOMining Forum Americas 2026
- 2026 gold output targets 820-920 koz, with growth, returns, and sustainability advancing.BTOCorporate presentation
- 2026 gold production is forecast at 820,000–920,000 oz, with major growth from Goose and Fekola.BTOCorporate presentation
- Q2 2026 gold output reached 203,648 oz, with net income of $417M and improved outlook.BTOQ2 2026
- 2026 gold production guidance is 820,000–970,000 oz with strong financials and ESG focus.BTOCorporate presentation
- Directors and auditor reappointed, growth projects advanced, and strong ESG focus maintained.BTOAGM 2024
- Gold production and financial results exceeded expectations, with strong project progress.BTOQ1 2025
Next B2Gold earnings date
Q4 202618 Feb, 2027
B2Gold
Next B2Gold earnings date
Q4 202618 Feb, 2027
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Frequently asked questions
B2Gold Corp is a gold producer with mining operations in Mali, Namibia, and the Philippines, along with exploration projects in various jurisdictions. The company engages in gold production, development, and exploration through wholly owned and joint venture assets. The company is headquartered in Vancouver, Canada, and its shares are listed on the TSX.